Here comes the name GOLD IRA
Because of the monstrous inflation and big losses in stocks and cryptos, you should be hearing the term “gold IRA” a lot lately. So what is it actually?
LOS ANGELES, CA, USA, September 27, 2022 /EINPresswire.com/ — Gold IRA has become a popular investment phrase and an even more popular retirement vehicle. Gold is the most popular precious metal, but the term is somewhat misleading as a “Gold IRA” can hold any IRS-approved gold, silver, platinum, or palladium product, whether it be bars, coins, proofs, etc. The Reasons The Success and the popularity of a Gold IRA are simple. According to Orkan Ozkan, co-founder and CEO of American gold barsInc., the company that invented the term “Gold IRA”, no non-metallic assets can boast the same intangible and economic characteristics:
• Physical precious metals have no credit or counterparty risk.
• Precious metals require no special or “insider” knowledge.
• Precious metals provide the necessary diversification that can reduce risk in times of political and economic stress.
• Precious metals are easy to buy and sell.
• Precious metals are real money, not fiat currency or another person’s assets.
• Even if the stock market hits bubble-like records, precious metals could still outperform stocks over the long term.
In addition, savvy investors understand the risk posed by monetary policies that emphasize systemic inflation. Adequate diversification cannot exist when an investor’s entire portfolio consists of assets dominated by the US dollar or assets subject to the vagaries of fiat currency regimes.
Aware of the value of portfolio diversification and the need to include physical bullion as a necessary hedge, American Bullion sold and shipped bullion metals across the country when it was founded in 2009. But its founders, Orkan Ozkan and Nevtan Akcora, we constantly heard clients complain about the fact that their IRAs, 401(k)s and other retirement vehicles were being hurt by the 2008 economic meltdown, which was triggered by a spate of subprime mortgage defaults had been decimated. Customers were frustrated, felt they had no “exit hatch” and certainly did not want to be left in such a vulnerable financial position with no options. So the founders of American Bullion set out to create a viable solution. They researched the Taxpayer Relief Act of 1997, then surveyed companies, assembled a team and put together a tax-free and penalty-free system that offers customers a one-stop shop for acquiring precious metals in their existing retirement portfolios.
The system they created has actually achieved the goal of helping individuals to remit funds tax-deferred from IRAs, Simple IRAs, SEP IRAs, 401(k)s, Roth IRAs, 403(b)s, Thrift Savings Plans, Retirements and others qualifying plans into a self-directed IRA capable of holding physical precious metals. The founders entered into agreements with the Sterling Trust Company to act as account administrator and provide quarterly reports to both the government and the client DDSC (Delaware Depository Services Company) to secure, insure and book the account’s physical bullion products. The next step for the founders was to secure an easy-to-remember phone number that would adequately showcase America’s new industry. (800) GOLD IRA has been secured and has served as the company’s flagship since inception, indicating true pioneers.
The beauty of the system created is that an interested party can learn about the benefits and process of a gold IRA by calling American Bullion. Once a prospect elects to proceed with opening an account, an American Bullion IRA Relations representative will initiate a conference call with the prospect and their current trustee or administrator to verify the existence of a qualifying account. In many cases, a rollover can be achieved in the same call. Otherwise, the transfer requirements will be confirmed with the current custodian, American Bullion’s representative will prepare the necessary documentation and mail it to the prospect with only verification, signature and return by fax or email required. Information will then be provided to the American Bullion representative to complete the deposit application for the new account and the completed application will be sent to the new customer in physical or electronic delivery.
The enormous success and popularity of the Gold IRA led to a sudden boom in traders eager to copy the American bullion system and offer “similar” services, many of whom chose Los Angeles, and many chose to do so also opted for Wilshire Boulevard.
With so much at stake, prospects are strongly advised to research these companies before taking the first opportunity, as not all Gold IRAs are created equal. At the very least, such a provider should be recognized by the US Mint as a dealer, member, or even better, be an affiliate Authorized Dealer of Numismatic Guaranty Corporation and Professional Coin Grading Service. Additionally, they should have an A+ rating from the Better Business Bureau and five-star ratings from Trust Link and Trust Pilot. Seasoned professionals like American Bullion will also be members of Ethics.net, the American Numismatic Association and the Industry Council for Tangible Assets.
Rising inflation, sovereign debt and global tensions are a clear indication that things may get worse before they get better. Precious metals have a very long history of financial appreciation in such conditions, and current price levels may be one of the best reasons ever to consider a gold IRA sooner rather than later.