Lear Capital and Precious Metal Investing

When it comes to your future, you should make sure that you’re investing in something that can propel you to where you want to be later in life. Lots of people invest in stocks, mutual funds, and individual retirement accounts to ensure that they’ll have enough money attached away for their retirement. 

What many investors are just starting to get into are precious IRAs. Gold IRAs resembled regular IRAs. Their main difference is that a precious metal IRA is used to purchase and invest in physical precious metals. You can have a Gold IRA, Silver IRA, Platinum, etc. 

While not all custodians offer precious metal IRAs, dealers such as Lear Capital, make it possible to invest in the precious metals. With hundreds of satisfied customers, you’ll have no problem investing in the precious metal of your choice. Here’s some information on Lear Capital and precious metal investing. 

Precious Metal Investing Options

As I said before, Lear Capital deals largely in precious metal IRAs. They’re a great way to get into commodity investing while also ensuring that your retirement and future are stable. No one wants to retire with nothing in their bank account. Gold IRA accounts can help you plan for an awesome future. 

For your Gold or Silver IRAs, you can purchase gold or silver bullion, bars, and coins depending on your desired investment. One of the many requirements of the type of gold you purchase is its purity. All gold must be certified at 99.6% or over in purity for it to be placed in an IRA. 

If you’re interested in coins, you can purchase several different pre-approved IRS coins to place into your IRA. These coins include but are not limited to, the Canadian Maple Leaf, American Eagles, Australian Gold Kangaroos, Chinese Silver Pandas, and American Buffalo coins. If you were to put coins or Bullion into your precious metal IRA and they weren’t approved by the IRS, you could face serious fines and consequences. 

Don’t worry, your custodian will know how to make sure you avoid these challenges and mistakes so you can avoid unnecessary fees and fines. You don’t want to have your account closed because you failed to follow the rules. 

If you’re looking for more ways to invest in precious metals that aren’t an IRA account, take a look at this link. https://www.fool.com/investing/stock-market/market-sectors/materials/metal-stocks/precious-metal-stocks/ 

Can I roll over my existing IRA plan into a Gold one?

Yes. It’s fairly easy for your custodian to do that on your behalf. They’ll look over your existing IRA and 401k plan and let you know how you should best go about rolling over your account. Some accounts may not be eligible for rollover but most of them are. Lear Capital will do its best to ensure that the transaction and transition go smoothly. Don’t be afraid to ask them questions. Reputable dealers and custodians should be able to answer any of your questions or concerns for you before you invest.  

Things to consider before you decide to invest or open a precious metal IRA

Precious metal IRAs can be expensive for the first-time investor. They came with annual fees, mostly due to storage and insurance. A lot of people don’t realize that they can’t store their newly purchased gold in their home so they have to pay someone else to store it. Usually, this comes with a fee because of the safety and insurance that are required during the process. 

There are two reasons why you’re not allowed to store your gold in your house. One of these reasons is the safety of the product and yourself. If you’re investing in gold and place it in your home, odds are your home isn’t nearly as fortified as a specialized storage facility. This means that you could be inviting robbers into your home which could pose a danger to yourself and your investment. It’s best to leave your gold or silver’s safety in the hands of the professionals. 

The second, main reason for this, is that the IRS sees it as you are collecting from your account early, or in simpler terms, they see it as an early withdrawal. Just like a regular IRA account, you can’t take money out of it until it’s a fully matured investment. Basically, by housing your gold at home, your IRS sees it as you are withdrawing your money or in this case investment, from your IRA account earlier than its maturity date. If this happens, you’ll have to pay extensive fees and fines for withdrawing from your account too early, just as you would from an ordinary IRA account. 

If you’re worried about fines or penalties, click here for more information. While a  reputable dealer, like Lear Capital, won’t let you accumulate fees or penalties without warning you first, you still may want to read up on it so you have some background.  

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