Learn to Invest in a Precious Metals IRA in 3 Simple Steps

Precious Metals IRA

Wall Street Metals is proud to offer our clients precious metals and coins for your IRA. We have partnered with New Direction IRA, Equity Trust, GoldStar Trust and Strata Trust amongst others to offer the lowest cost and quickest IRA setup and maintenance, so you can enjoy all the tax benefits of precious metals IRAs.

Self-directed precious metals IRAs can be set up in three simple steps, and this page has plenty of resources for learning how to start investing in metals through your IRA.

Learn to Invest in a Precious Metals IRA in 3 Simple Steps

1 - Open a Self Directed IRA Account

The first step to investing in a precious metals IRA is to open a "self-directed" IRA. The process can be completed quickly, especially if you work with our preferred/recommended IRA custodians. To get started, open an account with one of our self-directed IRA custodians, call 1-800 632 4154 and we can help you open an account.

2 - Fund Your Self Directed IRA Account

Once you/we have opened your self-directed IRA account, your next step is to fund the account. If it is a new account, you will simply wire or transfer money to your IRA custodian of choice. If you are transferring or rolling over precious metals IRAs, speak to your custodian or us to ensure all steps are completed.

3 - Purchase Precious Metals from Wall Street Metals

Once your account is funded, your custodian will notify us you have funds available and intend to use them to purchase coins for your IRA or other precious metals from Wall Street Metals. You are now ready to make your purchase. From this point, call us at at 1-800 632 4154 to select your IRA-eligible products and lock in pricing.

WHY CHOOSE A PRECIOUS METALS IRA?

The main advantages of investing in precious metals through an IRA are tax benefits. By using precious metals IRAs for purchases, the investor either saves taxes now or in the future. The specific tax benefits depend on if you choose a traditional or a ROTH IRA.

Popular Traditional IRAs

Traditional IRAs allow investors to put pre-tax (tax-deductible) money into their IRA to be invested in assets of their choice. That money can then grow over time tax-free, and upon retirement age (currently 59.5), the investor can begin to withdraw from the account without penalty and pay taxes on the amounts withdrawn. Additional benefits as follows:

By contributing to a traditional IRA, you may be able to lower your current tax bracket as your contributions are tax-deductible.

A traditional IRA will allow you to invest more money because taxes are not deducted from the original investment capital.

Investors who are in too high of a tax bracket to qualify for a ROTH IRA can still choose to contribute to a traditional I R A.

Early withdrawals can be taken without penalty in the event of unusual circumstances such as a 1st home purchase or medical bills.

Investors should consider choosing a traditional IRA if they anticipate their tax rate at retirement to be lower than their current tax rate.

ROTH IRA

It allowa investors to put post-tax money into their IRA to be invested in assets of their choice. That money can then grow over time tax-free, and upon retirement age (currently 59.5), the investor can begin to withdraw from their account without penalty and without any taxation, provided the account has been open for at least 5 years. Additional benefits as follows:

ROTH IRAs ensure that your qualified withdrawals in the future are tax-free because you already paid taxes up front on contributions.

Investors who are over 70.5 can still contribute to ROTH iras.

ROTH IRAs have no Required Minimum Distributions (RMD).

Investors should consider choosing a ROTH IRA if they anticipate their tax rate at retirement to be higher than their current tax rate.

Both of these options are great as precious metals IRAs.

New vs. Existing IRAs

Our self-directed IRA custodian partners are not only able to help set up new precious metals IRAs, but can also help you with a 401(k) rollover or transfer of existing assets. Make sure to be very careful when performing an IRA transfer or rollover, as if these transactions are not performed properly they can actually trigger a major tax event on your savings. Our IRA custodians are more than happy to help you with a transfer or rollover in the seamless and correct manner.