If you’ve thought about investing in your retirement, then you’ve likely already set up an IRA (individual retirement account) or a similar investment vehicle. Problem is, the majority of these accounts depend heavily on stocks. And if you’ve been paying attention to the stock market and the state of the economy, then traditional investing in the stock market may have you feeling a little weak in the knees and sick to your stomach.
How can you soothe this uneasy feeling? Simple: by setting up a silver IRA and investing in real silver bullion such as silver bars and coins.
Now, some people think that having a silver IRA means that you invest in silver mining stocks. And while that certainly is a possibility (and it is one way to diversify your investments), that’s not a true silver IRA. That’s because investing in mining companies means you’re still investing in businesses, which is vulnerable because it can be so easily mismanaged.
Instead, what you want to do is create a silver IRA that’s backed by real silver. I’m talking about tangible, shiny silver bars, coins and other bullion. This is the kind of stuff that doesn’t tank just because some upper-manager made bad decisions or an accountant decided to cook the books of a company. A silver IRA is basically a physical asset.
Sound interesting? Here’s what you need to know about setting up your own silver IRA…
You Can Convert an Existing IRA Into a Silver IRA
If you already have a traditional stock-heavy IRA, or even a 401k or similar investment plan, you can convert this into a Silver IRA.
You May Only Used Approved Silver in Your Silver IRA
IRS regulations outline that you can only use certain types of silver in your silver IRA. Specifically:
- Silver bars, coins and other bullion must be 99.9% pure.
- Silver bars must be created at an approved refinery.
- The allowable coins include the American Silver Eagle, Austrian Philharmonic, Mexican Libertad and the Canadian Maple Leaf Coins.
You Cannot Add Your Existing Silver Bars, Coins or Other Bullion in Your Silver IRA
Do you already have silver bars, coins and other silver bullion locked away in a safe at home? Unfortunately, you cannot add these items to your silver IRA. Instead, you need to purchase your silver bars, coins and other bullion through an approved precious-metals retailer such as 57Gold.
57Gold Can Help You Create Your Silver IRA
In order to set up a silver IRA, you’ll need to set up a self-directed IRA through a trust company. This allows you to decide what types of silver bars, coins and other bullion you’d like to use to fund your silver IRA. You’ll then instruct the trust company to use 57Gold to fund your silver IRA. Finally, your silver bars, coins or other bullion will be stored in a trusted repository.
To get started creating your silver IRA, simply contact us at (888) 950 – 4653 to talk to one of our silver IRA specialists. Contact us now, so we can start protecting your future!