How Can I Turn My 401k Into Gold?

There are a number of things to consider if you want to convert your 401k to gold. One of these is the matter of whether or not you want to leave your present job. If indeed you are changing your job this might be a very good time to consider investing in bullion.

However, if you are staying with your present employer the 401k that you have with them cannot be moved. You can, of course, withdraw the money but you will have to pay tax and the potential penalty of 10%. So if you are in the 28% tax bracket and have to pay the 10% you have just given well in excess of one third of your investment to the government. It rather depends on the view of the future that you take. You may consider it an advantage to pay the penalty and invest in something which has never failed yet.

If you are changing your job then the situation is simpler. You roll over or transfer your 401k to an IRA account with a broker that has access to precious metals. Your other option is to roll over to a self-directed IRA; these are known for having more flexibility with regard to investment options. In order to roll over you will need to contact the plan administrator in order to get a check for the balance of your 401k. The check you receive will have a 20% deduction for taxes. You then have 60 days in which to open your IRA. If you transfer your 401k you will need to use a broker who can help with transferring your 401k to an IRA.

Another method of using your 401k is to use Regal Assets. When it comes to precious metals retirement accounts Regal Assets are an industry leader providing the best storage and fee structure as well as the quickest processing time. They facilitate and enable you to use the funds in your 401k or IRA to invest in gold bullion. Unlike an ETF (Exchange Traded Fund) there is actual bullion being held in a vault for you so you will always be able to withdraw funds even if many investors all wish to do so at the same time. With an ETF, in the case of a panic this may not be possible.

In order to put gold into your IRA you will need to talk to your broker because some IRA's are not able to hold gold. If this is the case you can open a gold IRA or a gold-silver IRA. The IRS requires the gold to be held in a depository which is certified for precious metals. You will have to pay an annual storage fee for your gold coins or bullion and they will be held until you either cash in or transfer to another form of investment. With your IRA you also have a choice of holding stocks, bonds, money market accounts, mutual funds and even real estate in addition to gold and precious metals.

Another way of investing in gold if you are staying in your present job is to withdraw some of the money in your 401k by way of a loan. This way you can invest some in gold while making minimal repayments for the loan. However you approach it, gold has always been a safe investment and you may want to get in now rather than wait until later when the price will have risen.

You can learn more on Gold IRA Investing here

Talk To An Investment Specialist

If you're interested in speaking with an IRA/401k investment specialist to learn more on diversifying and growing your IRA with Metals and also Cryptos, please request your FREE INVESTORS KIT directly from our partner, Regal Assets. They have investment specialists available to talk to you during business hours who will professionally answer all your questions. Call now on +1 855 338 1588.

How Can I Turn My 401k Into Gold?