Navigating the realm of investing in valuable precious metals investment account and IRAs can be a daunting task. One of the prominent players in this industry is Red Rock Secured.
This piece aims to present a comprehensive analysis of Red Rock Secured, its products, expenses, and feedback from customers.
Furthermore, we will delve into methods for tracking the performance of your IRA, discuss choices for storage, assess the advantages and disadvantages, and provide a step-by-step guide to initiating a Precious Metals IRA with Red Rock Secured.
2023 Urgent Update:
The assets of Red Rock Secured have been acquired and they are no longer doing business.
Please find this alternative company (rated #1) if you are looking for a precious metals IRA.
Advisory! Prior to diving into this review, we’d like to stress that at Investors Circle, our mission is to protect your wealth. We know that our research reports may alter your investment decisions, so we want to be 100% sure you are investing your hard earned money with the right company!
With this in mind, we urge you to check out our list of the top five companies in this space (we found 1 that fits 99% of investors needs)
See if Red Rock Secured made our list this year, or continue with this review below to see if they are possibly the right company for your investment needs.
Red Rock Secured is a renowned company that operates in the field of financial services and specializes in precious metals investments and Individual Retirement Accounts (IRAs). They have established a solid reputation within the industry. Also, the company offers a range of services and products related to these investment options.
Red Rock Secured is known for its commitment to customer satisfaction and has garnered positive reviews from individuals who have utilized their services. They aim to provide reliable and secure investment opportunities for individuals looking to diversify their portfolios and protect their wealth.
With a team of experienced professionals, the company offers guidance and support to clients throughout the process of opening and managing a Precious Metals IRA. They understand the intricacies of the market and strive to provide valuable insights to help investors make informed decisions.
In summary, Red Rock Secured is a reputable company in the financial services sector, specializing in precious metals investments and IRAs. They prioritize customer satisfaction and aim to assist individuals in navigating the complexities of these investment options.
Red Rock Secured offers an extensive range of products and services tailored to investors seeking to broaden their retirement savings through investments in precious metals. Their services revolve around the establishment and management of self-directed Individual Retirement Accounts (IRAs) specifically designed for precious metals. Here is a closer look at their offerings:
Red Rock Secured specializes in the following types of precious metals IRAs:
Traditional IRAs: These accounts provide tax-deferred benefits, allowing tax-deductible contributions and taxation on distributions during retirement.
Roth IRAs: Contributions to Roth IRAs are made after-tax, ensuring tax-free distributions in retirement.
SEP IRAs: Geared towards self-employed individuals and small business owners, these IRAs offer tax-deductible contributions with taxes paid upon distributions.
Simple IRAs: Designed for businesses with 100 or fewer employees, Simple IRAs provide a simplified process for contributing to retirement savings.
Their Precious Metals IRAs enable investors to include physical precious metals within their retirement portfolios, serving as a tangible safeguard against market volatility and inflation.
Red Rock Secured presents a variety of physical gold and silver IRA coins, both domestic and international, all suitable for inclusion in a precious metals IRA. These include:
American Gold Eagle
American Silver Eagle
Canadian Gold Maple Leaf
Australian Gold Kangaroo
South African Gold Krugerrand
Thesesilver and gold coins are renowned for their purity and value, offering a secure and stable investment avenue.
For those who prefer bullion, Red Rock Secured offers a selection of physical gold, silver, platinum, and palladium bullion bars, including:
Gold bullion: Available in sizes ranging from 1-ounce bars to 400-ounce bars
Silver bullion: Offered in weights of 10 ounces to 1000 ounces
Platinum and Palladium bullion: Available in 1-ounce bars
Bullion provides a direct and uncomplicated method of owning physical gold and precious metals, often with lower premiums compared to coins.
In addition to these core offerings, Red Rock Secured provides the following services:
Direct Purchase: Investors can directly purchase precious metals and hold them outside of an IRA.
Home Delivery: Red Rock Secured offers secure and discreet delivery of precious metals to clients’ doorsteps.
Educational Resources: The company emphasizes investor education and offers resources to help individuals understand the intricacies of investing in precious metals.
With these comprehensive offerings, Red Rock Secured aims to provide a complete service for individuals seeking to diversify their retirement savings through investments in precious metals.
The annual storage costs associated with investing through Red Rock Secured can be categorized into various areas. It is important to have a clear understanding of these potential charges in order to make informed investment decisions.
Red Rock Secured applies a one-time fee for setting up an account, which is a standard practice among firms managing self-directed IRAs. As of my knowledge cutoff in September 2021, the setup fee charged by Red Rock Secured was $50. However, it is advisable to check for current rates as fees may vary.
In addition to the setup fee, there are annual administration fees that cover the administrative tasks involved in managing your IRA. The cost of this service is typically tiered based on the value of your account. At the time of my last update, fees ranged from $80 for accounts up to $100,000 to $250 for accounts exceeding $1 million.
Another cost to consider is the storage fees. Since a Precious Metals IRA involves physical assets, secure storage at a depository is necessary. Red Rock Secured offers both segregated and non-segregated storage options. Keep in mind that segregated storage ensures that your precious metals are stored separately from those of other investors, while non-segregated storage may involve storing your metals alongside assets belonging to other investors.
As of the latest update, non-segregated storage fees started at $100 annually, while segregated storage began at $150 per year. The fees may increase depending on the total value of the stored assets.
The most significant portion of your investment will be the cost of the precious metals themselves. Red Rock Secured provides competitive pricing for a variety of precious metals, including gold and silver IRA coins as well as bullion. The prices of these assets fluctuate in accordance with market conditions.
It is worth noting that Red Rock Secured frequently offers promotions that can waive certain fees, such as setup fees and fees for the first year, for qualifying accounts. It is always recommended to check with the company for the latest offers.
As always, it is crucial to thoroughly comprehend all the fees associated with your investment. Potential investors are advised to consult with a financial advisor or directly with Red Rock Secured to obtain the most accurate and up-to-date information.
Examining customer reviews is an effective method for gaining insights into a company’s operations. It is advisable to explore Red Rock Secured reviews on platforms such as Google and the Better Business Bureau, as these platforms tend to attract numerous reviewers. By identifying common themes in customer feedback, you can form a better understanding of the company’s reputation.
Overall, Red Rock Secured has received positive ratings from customers, with many expressing appreciation for the Red Rock Secured representative willingness to answer questions. A recent reviewer echoed these sentiments, stating:
“I had the pleasure of speaking with friendly and helpful individuals. They addressed all my inquiries without applying any high-pressure sales tactics.”
According to the Better Business Bureau, there were three complaints registered against Red Rock Secured in the past year. These complaints appear to have resulted from misunderstandings or miscommunication. After prompt follow-up by the company’s representatives, all three complaints were successfully resolved.
Red Rock Secured has simplified the process of opening a gold IRA account for investors interested in precious metals. If you are considering precious metals investing in these assets, here are the steps involved:
To begin the process, get in touch with Red Rock Secured and schedule a personalized consultation. Their knowledgeable staff will be available to answer any questions you may have and guide you through the next steps.
You will need a self-directed IRA to hold gold, silver, or other precious metals in your retirement account. Red Rock Secured offers options such as Roth and traditional accounts, each with its own tax advantages. It is recommended to consult with a financial professional to determine the most suitable type of IRA based on your funding plans.
Many investors prefer to utilize funds from existing retirement or savings accounts, such as IRAs, 401(k)s, or 403(b)s. Red Rock Secured can provide assistance through a rollover specialist who will guide you in transferring your funds and establishing a new account.
This step allows you to explore the exciting options available. Consider whether you want gold, silver, or other precious metals in your IRA. You can also choose between coins or bars. Keep in mind that not all gold and silver items are eligible for a gold IRA. For instance, silver coins and bars must have a purity of at least 99.9%. A Red Rock Secured consultant will assist you in selecting IRA-eligible items that align with your precious metals investment goals.
For those setting up a gold IRA, the gold IRA company connect you with a helpful Red Rock assistant, such as Choice (previously referred to as Kingdom Trust). The chosen custodian will ensure that your precious metals are securely stored at a reputable depository, such as Brinks Global Service and Delaware Depository. It’s important to note that while Red Rock Secured can help you establish an LLC and arrange for home delivery of your metals, it’s essential to understand and comply with the IRS regulations governing gold IRA asset storage.
By following these steps and working closely with Red Rock Secured, you can open an account to begin investing in precious metals for your retirement portfolio.
Taking into account the high ratings Red Rock Secured has received on platforms like Google and the Better Business Bureau, it is evident that the company has garnered positive feedback from the majority of its customers.
However, it is important to consider both the strengths and areas for improvement of the company. Here are the pros and cons we have identified:
Fee-Free Precious Metal IRA: Most clients are exempt from paying fees for their precious metal IRAs.
Free Shipping and Insurance: Every order placed through Red Rock Secured includes complimentary shipping and insurance.
Price Protection Plan: Qualified gold and silver purchases can benefit from the availability of a Price Protection Plan.
Buy-Back Program: Red Rock Secured offers a Buy-Back Program, allowing clients to sell back their precious metals.
Cancellation Period: A 7-day cancellation period is provided after the date of the first transaction, offering clients a window for reassessment.
Lack of Online Pricing Information: Pricing details are not readily available on the company’s website, requiring customers to seek information through other means.
Limited Information on Fee Eligibility and Price Protection: The company’s website does not provide comprehensive information regarding eligibility for zero fees and Red Rock Secured price protection.
Offline Purchase Process: Online purchases are not possible, and customers must engage with a representative to complete their transactions.
Minimum Investment Requirement: Opening a gold or silver IRA with Red Rock Secured necessitates a minimum investment of $10,000.
By considering these pros and cons, potential retirement investors can make informed decisions about whether Red Rock Secured aligns with their investment goals and preferences.
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Red Rock Secured stores precious metals at a secure storage facility. They offer both non-segregated and segregated storage options. Segregated storage ensures that your precious metals are separately stored and specifically identified as yours. Non-segregated storage involves storing precious metals alongside other investors’ assets. The choice between segregated and non-segregated storage is up to you and depends on your preferences and risk tolerance.
Yes, Red Rock Secured provides tools and resources to monitor the performance of your precious metals investments. They offer online account access where you can track the value and performance of your portfolio. Additionally, they may provide regular statements and reports detailing the status of your silver investments. It is recommended to reach out to Red Rock Secured for specific details on how to access and monitor the performance of your precious metals investments.
To initiate a withdrawal from your Red Rock Secured account, you will need to contact their customer service or your account representative. They will guide you through the withdrawal process and provide the necessary instructions and forms. The specific procedures and requirements may vary, so it is advisable to directly communicate with Red Rock Secured to ensure a smooth and accurate withdrawal from your account.
In conclusion, Red Rock Secured offers a comprehensive suite of services for gold investors seeking to diversify their retirement savings account through precious metals. With a focus on self-directed Precious Metals Individual Retirement Accounts (IRAs), they provide a range of options including traditional, Roth, SEP, and Simple IRAs. Their offerings include a variety of gold and silver coins, bullion bars, and additional services such as direct purchase and home delivery.
Customer feedback for Red Rock Secured has been largely positive, with high ratings on platforms like Google and the Better Business Bureau. The company’s representatives are praised for their friendly and helpful approach, providing answers to questions without resorting to high-pressure sales tactics. Any complaints or issues raised by customers have been promptly addressed and resolved by the company’s dedicated Red Rock team.
While Red Rock Secured has several advantages, such as fee-free precious metal IRAs, free shipping and insurance, and a Price Protection Plan, there are a few areas that could be improved. These include the availability of online pricing information, more details on eligibility for zero fees and price protection, and the option for online cash purchases.
Thank you for your attention, and we wish you success in your financial endeavors with Red Rock Secured.