Lear Capital Gold IRA: What Is It And How To Invest?

Gold has emerged as one of the leading asset classes in 2023, rising 12% while standard market proxies fall behind. According to multiple analysts, it may be a while before the “gold rush” subsides. With political and economic instability brimming, many investors are eyeing gold as a means to protect their hard-earned cash and save for retirement. 

Investors can leverage gold to protect their cash through the purchase of gold-heavy stocks or exchange-traded funds (ETFs), but these options do not afford investors the luxury of physically owning gold. To do that, investors must sign up for a specific kind of financial account called an Individual Retirement Account (IRA), or purchase gold directly for home storage. 

What Is An IRA?

An IRA is a type of savings account that allows North American citizens to save money for retirement while also enjoying tax benefits. The IRA is a supplement to the 401(K), which is an employer-sponsored retirement saving account, and it leverages the benefits of investing as a form of wealth generation. Most IRAs hold a basket of stocks, bonds, ETFs and mutual funds, which are managed by a chosen broker, bank or financial institution. 

What Is A Gold IRA?

A gold IRA is a specialized IRA account that allows holders to purchase gold in the form of bullion and coins. Unlike traditional IRAs, self-directed IRAs allow their holders to purchase “alternative assets” like real estate, cryptocurrency and physical precious metals. The gold IRA, therefore, is a form of self-directed IRA and shares similar benefits and limitations to other self-directed IRA accounts. 

The main benefits of a gold IRA include:

• The ability to invest in physical gold 
• Yearly contributions of up to $7,500 to the gold IRA
• Free deductions and withdrawals from the account by age 59

A gold IRA is one of the best ways to invest in physical gold. The Internal Revenue Service (IRS) sets certain storage requirements for gold IRA accounts, however, that add fees to the account. For example, the IRS does not allow account holders to personally store precious metals; instead, the precious metals must be placed in an IRS-approved depository. Other fees like storage, seller and custodian fees may also apply. 

How To Buy Gold With An IRA

Once a gold IRA is fully functional, holders of the account need only transfer cash into it and begin purchasing gold. Another option is to roll over the funds from another retirement account into the gold IRA account. For example, a 401K, or a portion of a 401k, can be “rolled over” into a gold IRA tax-free, and the funds can be used to purchase gold in this way. The best gold custodians often have this service available. 

Picking A Gold IRA Custodian

Because of the specific legal requirements for gold IRAs, these account types are typically not available through traditional brokerages but are made available through special gold custodians. It’s imperative to pick the right gold IRA custodian for a good gold investing experience.

One potential destination for investors interested in a gold IRA is Lear Capital. With over 25 years of experience and more than $1 billion in IRA transactions, Lear Capital offers a variety of options for investors to purchase bullion, acquire premium rare coins or add physical gold and silver to their existing IRA accounts. 

The company has earned a AAA rating with the Business Customer Alliance, reflecting its reputation as a trusted and reliable source of precious metal investment. Additionally, the company offers a host of unique benefits including a free IRA setup, a 24-hour risk-free purchase guarantee and a free price evaluation of metals from other dealers. 

Lear Capital has been rated a top 5 Gold IRA company at Benzinga. 

Click here to learn more. 

Featured photo by Philip Oroni on Unsplash.

This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.