How can you hold gold in your IRA or retirement savings?
A Self-Directed IRA with Checkbook Control (also known as an IRA LLC or Checkbook IRA) provides you with the perfect platform to invest in gold.
How does a Self-Directed IRA allow a retirement fund to invest in gold?
Are there different Self-Directed IRA platforms that can be used to invest in gold?
Yes. The two different “flavors” of Self-Directed IRA platforms are the Trust model and the Checkbook Control model.
Many of the gold IRAs that are being advertised are based on the Trust model. The reason for this is that the profit margins are potentially much higher. The Trust model allows the company to charge managerial fees, transaction fees, and dictate the source of the gold.
With a Self-Directed IRA based on the Checkbook Control model, there are no managerial or transaction fees, and the investor is free to purchase from the gold dealer of his/her choosing. For investors who want to maximize their retirement funds, Checkbook Control is by far the most robust option.
Can I rollover an existing retirement fund into a Self-Directed IRA?
Certainly. Virtually any retirement account can be rolled over into a self directed IRA, and it can be done without any tax penalties or early distribution fees.
What if I decide at a later date to invest in something other than gold?
A Self-Directed IRA gives you continual asset choice. You always have the power to sell your gold holdings, and reinvest the funds in a different asset.