What is Gold IRA or Precious Metals IRA?
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A Gold or precious metal IRA is a type of individual retirement account that allows you to fund money in physical precious metals such as gold, silver, platinum, and palladium. These accounts are designed to provide diversity and protection against economic downturns.
Why should I consider a Gold IRA?
People often consider Gold IRAs as a hedge against inflation and economic instability. Precious metals tend to retain their value this makes them a potential safeguard for your retirement savings.
What types of precious metals can I include in a Precious Metals IRA?
You can include a variety of IRS-approved precious metals in your IRA, such as gold bars and coins, silver bars and coins, platinum bars and coins, and palladium bars and coins. However, there are specific requirements and restrictions on the purity and type of coins or bars that can be included.