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Gold $1274.8 -1.9
Silver $16.35 0.01
Talk to a representative: 855-242-4121

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5 Reasons to Rollover Your 401(k) to Physical Gold & Silver IRA

Generally, 401(k) s are good things. They are retirement plans set up by your employer and are qualified for tax breaks, such as tax-deductible contributions and tax-free growth. They also allow employers to make contributions to your account on your behalf. IRAs are also tax-advantaged retirement plans that you set up directly, independent of where you work. A Gold (or Silver) IRA is a self-directed account that allows you to purchase physical precious metals – gold, silver, platinum and palladium – in the form of approved coins and bars.

You can easily transfer, or roll over, assets from a 401(k) to a Gold IRA. Here are five reasons to do so:

  1. Ownership of Gold: Most 401(k) s is not set up to allow you to purchase physical precious metals. This means your retirement account doesn’t receive the benefits of diversifying into physical gold and silver, such as protection against inflation, maintenance of value, low correlation with paper-based assets and as a store of tangible wealth.
  2. Real Gold, Not Paper Gold: Unfortunately, some 401(k) account holders think they can get the benefits of physical gold by holding a surrogate form of the metal, such as Gold exchange-traded funds (ETFs), mutual funds or shares of gold mining companies. The problem is that these surrogates are all paper-based assets. Since a 401(k) rarely allows you to hold physical gold, a rollover to a Gold IRA is the best way to add precious metals to your retirement portfolio.
  3. Transfers Are Tax-Free: You can move your money and other assets from your 401(k) to your Gold IRA tax-free. We recommend a trustee-to-trustee transfer. In this procedure, the money and other assets are moved directly from the old account to the new one, without first going to you. There are no deadlines and no withholding taxes under this procedure. It’s fast, easy and tax-free.
  4. Roth IRAs: You can take the opportunity when transferring your 401(k) to an IRA to convert it into a Roth IRA, where you get tax-free growth and withdrawals. Furthermore, you can keep your assets in your Roth IRA as long as you live.
  5. Protection From Creditors: It’s true that 401(k)s provide good protection from creditors. But so do IRAs. The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act protects up to $1 million in IRA assets in the event of bankruptcy. That means that your retirement assets are protected by law from confiscation from creditors. During times of economic and political upheaval, many folks are forced into bankruptcy. It’s good to know that your IRA assets, including your precious metals, are protected.

Moving assets from your 401(k) to an Augusta Precious Metals Gold or Silver IRA is a great way to add physical gold to your retirement portfolio. Best of all, you can transfer the money anytime – you don’t have to wait until you separate from your job. Get started today!

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Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.