A Gold 401(k) is a retirement savings account that allows you to invest your retirement funds in gold and other precious metals. Gold and precious metals are one of many types of alternative investments available through self-directed 401(k)s.
A self-directed 401(k), or Solo 401(k), is a retirement platform that allows you to diversify your investments beyond stocks, bonds, and mutual funds. Self-directed retirement accounts give you greater control over your retirement funds, and offer a more convenient investment process than standard 401(k)s.
Benefits of a Gold 401(k)
Perhaps the greatest benefit of any Solo 401(k) is the peace of mind you get from knowing that you’re building a retirement portfolio, even though you’re self-employed.The additional benefits of a Gold 401(k) start with the basic benefits of any self-directed retirement account:
- Checkbook Control: Broad Financial puts you in charge of your assets. With our Checkbook Control feature, you personally take care of the transactions in your retirement account in real time. This eliminates the waiting period for a custodian to respond and update your account.
- No Custodian Fees: With a traditional 401(k), a custodian controls your account and charges fees for performing updates on your behalf. Eliminating these fees means maximum wealth for your retirement.
Self-directed retirement accounts give your savings the security of true diversity, by allowing you to invest in a variety of alternative assets. A Gold 401(k) focuses on gold, and the benefits keep coming:
- Confidence against inflation. The value of gold historically remains strong, even as paper currency loses value.
- Security in your assets. You can take physical possession of certain forms of gold owned by your Solo 401(k).
Gold coins were first minted in 500 BC, and still hold enormous value. Gold’s history of security make it a valuable addition to most retirement portfolios.
When to Invest in a Gold 401(k)
Timing is important in investments, but it can be over-estimated, especially for assets like gold. Before asking when to invest in a Gold 401(k), however, two requirements must be met: you must be eligible, and your retirement funds must be eligible.
In order to invest in a Solo 401(k), you must:
- Report at least $500 of 1099, or self-employed, income.
- Must not have any full-time employees, other than your spouse.
Investors who don’t qualify for a Solo 401(k) can still invest in gold and precious metals as part of a self-directed IRA.
If you are considering reinvesting your current 401(k) into gold, you also need to make sure that your 401(k) is eligible. Many employer-sponsored 401(k)s cannot be withdrawn and reinvested as long as you are still working for that employer. If your 401(k) cannot currently be moved, you can start a Gold 401(k) with a new investment.
Once you are sure that both you and your 401(k) qualify for a Gold 401(k), there’s no reason to wait! If you are ready to diversify and secure your retirement portfolio, the time is right for gold.
How to Find the Right Gold 401(k) Provider
Since Gold 401(k)s are self-directed, you’re looking for a company that has experience and expertise dealing with the specific rules and regulations of self-directed retirement platforms. When evaluating different providers, here are a few features to look for:
- Good Customer Service—Look for evidence of experience and professionalism in both your interactions and customer testimonials.
- Positive External Ratings—Look for a company with a high reliability rating from an external agency like the Better Business Bureau.
- Simple Set-Up—Look for a full-service provider. You shouldn’t have to do much more than fill out a few forms and open a checking account.
- Checkbook Service Model—Is it a custodian system, or do they offer a checkbook model for their investors? Make sure your provider can set up Checkbook Control for your 401(k)—this will save you both time and money.
Your Solo 401(k) will likely become your most powerful retirement savings tool. Make sure you are working with people who know how to help you secure your future.
How to Get Started with a Gold 401(k)
Start by researching Solo 401(k) providers, and find one with good experience that you are comfortable with.
When you contact Broad, our process for getting started with your Ultimate Gold 401(k) is quick, easy, and informative. You will begin by speaking with your personal account specialist, who will guide you through the entire process. We will send you a few short forms to fill out, and you’ll be on your way to a more secure retirement.
Invest in Your Future With Confidence
A Gold 401(k) can diversify your retirement portfolio with a stable, valuable asset. The security and long-term value of investing in gold can ensure a worry-free retirement for you and your family. It’s easier than you think to put your own unique knowledge, experience, and investment ideas to work for you with a Gold 401(k) from Broad Financial. Contact us online or call us at (800) 395-5200 today to talk to one of our specialists and get started.