Preparing for retirement can be an overwhelming process, especially when organizing financial arrangements. There are many ways to save and invest wealth, but an IRA account is often a go-to. Future retirees can put many kinds of assets into this kind of account, including gold.
Continue reading to get a complete review of Equity Trust and its self-directed gold IRA investment option.
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See if Equity Trust Company made our list this year, or continue with this review below to see if they are possibly the right company for your investment needs.
Equity Trust is a financial organization designed to help clients set up individual retirement accounts (IRAs) so that they may invest in a variety of assets, including gold, mutual funds, stock, and real estate.
The organization works to help investors. It identifies critical rules and regulations that ensure all investments are done properly. Additionally, Equity Trust assists businesses that work with IRAs to better support their clients.
What Does Equity Trust Offer?
Seamless Starting Process
Equity Trust boasts that it can help investors establish and maintain their self-directed gold IRA accounts. As such, they make the starting process relatively uncomplicated. It only takes three steps to get started:
- Open a retirement or savings account.
- Fund your account.
- Make investments.
The setup process includes clear instructions, which is especially helpful for first-time investors. While users complete this, the organization’s experts are available to help if needed. They maintain relationships with investment intermediaries who can aid clients just starting.
Many Investment Options
Individual retirement accounts can help investors put money in accounts that go beyond traditional assets, such as stocks and bonds. Instead, an IRA at Equity Trust allows people to invest their money in precious metals, including gold, cryptocurrency, and mutual funds.
The many options make it easy for users to diversify their portfolios and use a variety of assets when saving for retirement.
The organization allows users saving for retirement to invest in gold. Functioning identically to a regular IRA, a gold IRA holds physical gold instead of paper money. However, this asset is historically known to be reliable, especially during times of financial uncertainty.
It requires fees for purchasing and storing the gold.
Similar to gold IRAs, Roth gold IRAs allow users to make tax-free withdrawals. They must pay some fees when contributing to the account, but after meeting special requirements, owners of the account can withdraw without any charges.
Equity Trust offers reasonable pricing for users who want to create an account. The initial cost to fill out an application online is $50, whereas a physical application costs $75. It costs $100 per asset to partially dissolve the account or redistribute the assets. To fully terminate the account, users must pay a charge of $250.
Investing in an Equity Trust Gold IRA
Creating a gold IRA account through Equity Trust follows the standard process of opening the account, funding it, and directing investments. Users have access to work with a specialized counselor to ensure that everything is in order.
When it comes to gold IRAs, investors can work with a precious metals or gold dealer to get expert knowledge on maintaining the asset. Gold is a great place to put money, but many may not know everything about investing in it. Equity Trust helps provide the support needed to make safe financial contributions.
Frequently Asked Questions
Why Diversify a Portfolio with Precious Metals?
Saving for retirement requires a lot of planning. When preparing for the future, it is best to make safe financial decisions so that retirees can be confident. Gold offers little market risk as it has few ties to the volatile stock market. Plus, it is easy to liquidate and allows people to diversify their portfolio, which is always a wise move.
Is it Possible to Buy Gold in a Roth IRA?
Investors may buy gold in a Roth IRA. However, Roth IRAs are usually not self-directed, and gold IRAs typically are. As such, not many people put gold in this type of account, but it is possible to do so.
Should I Consider Investing Gold in an IRA?
Investing in gold is often a smart financial decision made to prepare for times of economic uncertainty. The precious metal can hedge against inflation, allowing investors to maintain the total price of their asset over time. Unlike traditional IRA accounts, gold IRAs do not rely on the stock market, which is known to fluctuate.
Can Gold IRA Be Stored at Home?
Owners of a gold IRA may not store their precious metals at home. They must store it in an IRS-approved location, which does not include personal sites. Gold owners can expect to hold their assets in an approved bank or non bank trustee.
Are There Other Precious Metals I Can Put in an IRA?
Investors can diversify their IRA with more than just gold. Other precious metals can contribute to their collection of assets. Equity Trust allows users to invest in the following:
- American eagle coins
All these assets can contribute to their IRA account and maintain their wealth over time.
What Is a Precious Metals IRA?
A precious metals IRA from Equity Trust functions almost identically to a gold IRA. The biggest difference is the type of asset. Gold is usually the most profitable of precious metals. However, investors can safely invest in others.
Equity Trust connects users with experts when they establish their account. Just like with a gold IRA, users can get the proper support if they are first-time IRA investors.
Is It Easy to Liquidate Precious Metals?
With Equity Trust, account holders can withdraw their gold at any time. However, there are fees they must incur, such as taxes and other penalties. This is unavoidable unless users transfer their assets to another custodian. They can also sell their gold and return the money to the same IRA account.
When it comes to precious metals outside of an IRA, it is easy to liquidate these assets, which is one of their most appealing factors.
Can Someone Have More than One IRA Account?
Investors can have more than one IRA account. However, they all contain annual contribution limits, which means that investors cannot put more than a certain amount of wealth into themyearly.