It is a huge decision to trust an organization with your hard-earned money. Depending on your financial goals, there are many gold IRA companies that offer different advantages and disadvantages.
Advantage Gold, a top-rated gold IRA company, is known for its easy precious metals IRA rollovers (from traditional accounts) and large selection of standard bullion coin options. Advantage Gold is recommended by many, regardless of whether you are interested in gold IRAs or physical precious metals.
Learn About Gold wants to help you identify the best IRA partner to meet your investment goals. This Advantage Gold review will cover the company's history, legitimacy, security and products. We also discuss customer reviews and complaints to help you understand why Advantage Gold is so special.
A Brief History of Advantage Gold
After serving as senior account executives, Adam Baratta was joined by Kirill Zagalsky to create Advantage Gold in June 2014. The company, which is based in Los Angeles, quickly rose to prominence as a leader in offering secure and convenient precious metals IRAs.
Advantage Gold believes that all clients deserve the education and support they need to make informed investment decisions. Advantage Gold is passionate about helping clients set up precious metal IRAs and roll over accounts. Clients receive personalized advice from Advantage Gold's management team, along with step-by-step support.
Advantage Gold is a partner with STRATA Trust Company and Equity Trust Company to serve as its precious-metals IRA custodians. For vaulting and insurance of your investments, the company partners with Delaware Depository and Brinks Global Services.
Advantage Gold is a legitimate company?
Advantage Gold is a legit company that has received positive ratings from many well-respected organizations. Advantage Gold is a legitimate company with a AAA rating from Business Consumer Alliance, with no complaints filed and accreditation with an "A+" rating from Better Business Bureau (BBBB) since 2014. These are customer reviews that have given Advantage Gold the following scores:
- 4.81 stars out of 5 on the BBB Website
- Rated 5/5 by 462 TrustLink users
- Rated 4.9 stars out of 5 by 747 Trustpilot users
- 4.7 stars out of 5 stars in Facebook reviews
Advantage Gold is an American Numismatic Association member, and a U.S. Mint-listed dealer.
Advantage Gold has a strong reputation, many company partnerships with industry-leading companies, and attentive support channels so you can feel confident about investing. An Advantage Gold representative can help with any questions or concerns.
Are your investments protected with Advantage Gold?
Advantage Gold has partnerships with storage facilities that will protect and insure your investments should anything happen to precious metals while they are stored in the facility. You must either purchase insurance for the premium coins or take on the risk if you store them at home.
You will not get appreciation guarantees if you invest in precious metals through any investment company. Advantage Gold can't guarantee your retirement funds, or predict the value of your future gold investments. The company will offer fair market value through its Buyback program when you sell.
How to Open an Advantage Gold Account
Advantage Gold makes it easy to open an account. Advantage Gold's sign up process includes support materials and educational materials.
There are two options available for precious metals IRAs. They are Equity Trust and STRATA Trust Company. You can create a gold IRA by visiting Advantage Gold's website. Follow the link to an Adobe Sign page. Fill out the prompting fields and complete the process.
Advantage Gold support can be reached if you prefer to talk with someone when applying for an Advantage Gold IRA. You can have your IRA managed by a custodian who will guide you through the entire process.
You can fund your IRA by transferring, contributing or rolling over funds from another retirement account after you have opened it. You can transfer funds or rollover to your account to add cash that you can use for standard bullion coins, bars or other precious metals.
Advantage Gold Products
Advantage Gold has a variety of American, Australian and Mexican precious metals.
Advantage Gold can store precious metals in safe vault locations that are insured and secure for you. This eliminates the risk of having to transport and store precious metals. These are the kinds of precious metal products that you can buy through Advantage Gold:
Gold IRA-approved Coins
Advantage Gold has 12 different physical gold coins that you can choose from. You can use each coin to contribute to your IRA in a variety of weights. These are the items available:
- Canadian Woodland Caribou in Gold
- Gold Canadian Great-Horned Owl
- Gold American Eagle
- American Buffalo
- Gold Canadian Maple Leaf
- Gold Canadian Wolverine
- Gold Canadian Wild Horse
- Gold Canadian Polar Bear and Cub
- Gold Canadian Bighorn Sheep
- Gold Austrian Philharmonic
- Proofs of Gold American Eagles
- American Buffalo Proofs
Silver IRA-approved Coins
Advantage Gold offers nine different IRA approved silver coins in varying weights if you are interested in silver IRAs.
- Silver Canadian Great-Horned Owl
- Silver Canadian Wild Horse
- Silver Canadian Woodland Caribou
- Silver Canadian Wolverine
- Silver Canadian Maple Leaf
- Silver Canadian Bighorn Sheep
- Silver Canadian Polar Bear and Cub
- Silver Austrian Philharmonic
- Silver American Eagle Proofs
- Silver American Eagle
- Mexican Libertad
Platinum IRA-approved Coins
While gold and silver bars are the most common precious metal IRA options available, there are also some other options that offer benefits. You have six options for platinum IRA-approved coins if you choose Advantage Gold. These include the following:
- Platinum American Eagle
- Platinum American Eagle Proofs
- Platinum Australian Leopard Seal
- Platinum Australian Humpback Whale
- Platinum Australian Emperor Penguin
- Platinum Canadian Maple Leaf
Palladium IRA-approved Coins
Palladium coins may be a good option for you if you don't want to invest in precious metals like gold, silver or platinum. Advantage Gold has the Palladium Canadian Maple Leaf that can be used to make approved contributions to IRAs.
Advantage Gold offers services
It is difficult to learn about the stock market, precious metal IRA rollovers, and paper assets. Advantage Gold strives to provide the resources and education necessary for clients to make informed and intelligent investment decisions.
To make it easier for clients, the company offers a variety of services such as the Buyback Program.
Education and Training
Beginners interested in gold IRAs should be aware that converting an existing IRA to a precious metals account requires careful research.
Advantage Gold offers a first-time investor program that includes a free guide for gold IRAs. This guide will teach you the intricacies of gold IRA rollovers, investing in precious metals IRAs and purchasing premium coins. Understanding how federal income taxes and deductions differ based on retirement account types will help you choose the best self-directed IRA to meet your financial goals.
Advantage Gold professionals have extensive training and decades of experience as account executives. They can help you make informed choices. Before you dive in, your representative will give you the pros and cons of each investment option.
The Buyback Program is one of the most notable Advantage Gold offers we found. You might be wondering how your retirement funds will look after you have opened a gold IRA or purchased precious metals.
You can withdraw precious metals from your possession and then sell them as you wish. Advantage Gold's Buyback program makes selling quick, easy, and profitable.
Advantage Gold will give you the fair market price for your precious metals when you are ready to sell. Sometimes, Advantage Gold may offer higher offers for high-demand coins.
Precious Metals Storage
You cannot store precious metals for IRAs at home. Any IRA investments must be stored in approved IRS storage facilities
Two separate providers provide IRS-approved storage for the company. Brinks Global Services and Delaware Depository provide state-of the-art vaulting services that include top-notch security, insurance and storage options. There are two types of vaults: segregated or non-segregated. Prices range from $100 up to $150 per annum.
Precious Metals Delivery
Advantage Gold offers bullion direct sales. This is not an IRA option. To add coins to your collection or portfolio, you can buy them. The company will send the products free, with insurance included and expedient delivery.
Your package should arrive within 2 to 3 business days. These perks may require you to meet certain criteria.
Advantage Gold IRA
Individual retirement accounts (IRAs), are investment accounts that provide tax incentives and secure your money until you retire. You can fund IRAs using fiat money, silver, gold, or any other assets.
Advantage Gold's gold IRA team will walk you through every step so you know exactly how your investment will work. For all your support requirements, you can use either Equity Trust Company or STRATA Trust Company as self-directed IRA custodians.
There are many types of retirement accounts, each with its own advantages and tax deduction requirements. Most retirement plans can be converted to a gold IRA by Advantage Gold's rolling process. This includes Traditional, Roth, Simple IRA, SEP and Simple IRA.
How to rollover an existing IRA into an Advantage Gold Precious metals IRA
You will need to rollover an existing IRA if you want to move it to a precious metals IRA. The Advantage Gold IRA Rollover process is very simple as representatives will take care of most of the complicated steps.
These steps will help you convert your funds to a Advantage Gold precious metals IRA.
- Apply to an IRA online: On the Advantage Gold website you will find the form for self-directed IRA applications. Before submitting, make sure you carefully read and fill out all fields. A copy of your most recent retirement account statement will also be required.
- Get an approval. An Advantage Gold representative will review and contact you to discuss your viability, expectations, and fees.
- Rollover: Your account representative will contact your current investment account company to process the rollover. The company will handle all paperwork and transfers so you don't have to worry.
- You will receive funds in your account after you have completed the transfer. Your representative will setup your account and make sure you understand how it works.
- Buy precious metals Once you have the funds, you can buy precious metals to add to your IRA.
What are Advantage Gold Fees?
For account management and custodial service, most precious metal IRA providers charge fees. The fees charged by the custodian that you choose will vary. Each of these can impact your overall cost.
Direct Investment Expenses
When you first open an account, you will need to pay for direct investment expenses. STRATA Trust Company and Equity Trust Company will charge 50 when you create your account. This fee will not be charged again if you create more accounts.
Portfolio Management Fees
Many custodial service providers also charge an annual fee for account management. STRATA charges $95 annually for account maintenance. The amount of your Equity Trust Company account will determine the annual maintenance fee. However, it usually starts around $225. Talk to a custodial representative for more information about your investment.
You won't be charged a maintenance fee if you transfer $50,000 from an existing retirement fund to a precious metals IRA or gold IRA. If you deposit at least $25,000., you may be eligible for a bonus perk.
Storage fees are also required for precious metals. The operating expenses usually cover insurance and security for your precious metals investments. There are usually two options available when choosing storage.
- Segregated – Segregated storage protects precious metals from investors and ensures top-tier security. Segregated storage costs $150/year with Equity and STRATA.
- Non-segregated – Your investment will be in the same vault as other investors' precious metals. Non-segregated storage costs 100 USD per year with Equity and STRATA.
Advantage Gold does not provide any fee information. The costs of investing can vary greatly from one investor to the next. Apart from the fees listed above, there may be additional charges depending on whether you have an existing account and what you want to purchase.
The fees will be disclosed to you when you open your account and meet your representative. Your representative will need to understand your investment goals so they can provide pricing transparency. Advantage Gold has the lowest fees and costs among all precious metal IRA providers, according to many customer reviews.
Is there a minimum investment?
Advantage Gold doesn't have a minimum investment requirement. This makes it an attractive choice for both first-timers and seasoned investors. Because of the high fees associated with IRAs, many recommend that you start your IRA with at minimum $5,000. Talk to your financial advisor to discuss a reasonable initial investment as well as future contributions based on your current income, debts and retirement goals.
Advantage Gold may have a minimum rollover investment for funds transferred from an existing account. The minimum rollover investment may be as high at $25,000. We recommend talking to a representative before you start any transfers.
Can Advantage Gold Customer Support be trusted?
Advantage Gold offers a great customer service team with responsive response times and expert help. They have years of training and experience, so they can help with any questions or problems. Customer reviews are positive and often praise the customer service experience.
Contact Advantage Gold for more information about pricing or to get in touch with support.
- Phone: (800) 341-8584
- Email: email@example.com
- Address: 12100 Wilshire Blvd. Suite #1450 Los Angeles, CA 90025
- Support hoursMonday to Friday, 6 a.m. – 6 p.m.
- Website: www.advantagegold.com
Complaints about Advantage Gold
During this review of Advantage Gold, we found only one customer complaint from the BBB website that was three years old. The company quickly addressed the issue. Although we were unable to find the details of the complaint, we do know that it was about billing and collections. This small mark is a sign that clients are satisfied with their investment decision.
You can ensure your retirement by investing in your future with precious metallics. It can be overwhelming to choose the right investment option with so many options.
Advantage Gold offers many benefits for both novice and experienced investors. These include excellent customer ratings and reliable service channels, educational materials and rollover procedures, low fees and easy-to-use rollovers.
You might also enjoy our Advantage Gold reviews. Learn About Gold is here to help you choose the right investment provider for you. A guided gold quiz can help you match the right investment company to your needs.
Contact our team if you have any questions about investment opportunities with different providers.
Frequently Asked Questions
What are the advantages of a IRA with a gold component?
There are many advantages to a gold IRA. It is an investment vehicle that can diversify your portfolio. You control how much money goes into each account and when it's withdrawn.
Another option is to rollover funds from another retirement account into a IRA with gold. This is a great way to make a smooth transition if you want to retire earlier.
The best part about gold IRAs? You don't have to be an expert. These IRAs are available at all banks and brokerage houses. Withdrawals can happen automatically, without any fees or penalties.
However, there are still some drawbacks. Gold is known for being volatile in the past. Understanding why you invest in gold is crucial. Are you seeking safety or growth? Are you looking for growth or insurance? Only then will you be able make informed decisions.
If you plan on keeping your gold IRA alive for a while, you may want to consider purchasing more than 1 ounce of pure gold. A single ounce isn't enough to cover all of your needs. Depending on the purpose of your gold, you might need more than one ounce.
A small amount is sufficient if you plan to sell your gold. Even one ounce is enough. These funds won't allow you to purchase anything else.
Is the government allowed to take your gold
Your gold is yours, so the government cannot confiscate it. You have earned it by working hard for it. It is yours. This rule could be broken by exceptions. Your gold could be taken away if your crime was fraud against federal government. If you owe taxes, your precious metals could be taken away. However, if you do not pay your taxes, you can still keep your gold even though it is considered property of the United States Government.
Is it a good retirement strategy to buy gold?
Although it may not look appealing at first, buying gold for investment is worth considering when you consider the global average gold consumption per year.
The best form of investing is physical bullion, which is the most widely used. However, there are many other ways to invest in gold. It is best to research all options and make informed decisions based on your goals.
If you don't want to keep your wealth safe, buying shares in companies that extract gold and mining equipment could be a better choice. If you need cash flow to finance your investment, then gold stocks could be a good option.
ETFs are an exchange-traded investment that allows you to gain exposure to the market for gold. You hold gold-related securities and not actual gold. These ETFs usually include stocks of precious metals refiners or gold miners.
How much should I contribute to my Roth IRA account?
Roth IRAs are retirement accounts that allow you to withdraw your money tax-free. These accounts are not allowed to be withdrawn before the age of 59 1/2. There are some rules that you need to keep in mind if you want to withdraw funds from these accounts before you reach 59 1/2. First, your principal (the deposit amount originally made) is not transferable. This means that no matter how much you contribute, you can never take out more than what was initially contributed to this account. If you wish to withdraw more than you originally contributed, you will have to pay taxes.
The second rule is that you cannot withdraw your earnings without paying income taxes. When you withdraw, you will have to pay income tax. Let's take, for example, $5,000 in annual Roth IRA contributions. Let's say you earn $10,000 each year after contributing. Federal income taxes would apply to the earnings. You would be responsible for $3500 The remaining $6,500 is yours. The amount you can withdraw is limited to the original contribution.
The $4,000 you take out of your earnings would be subject to taxes. You'd still owe $1,500 in taxes. In addition, 50% of your earnings will be subject to tax again (half of 40%). Even though you had $7,000 in your Roth IRA account, you only received $4,000.
There are two types of Roth IRAs: Traditional and Roth. Traditional IRAs allow pre-tax contributions to be deducted from your taxable tax income. Your traditional IRA can be used to withdraw your balance and interest when you are retired. You have the option to withdraw any amount from a traditional IRA.
Roth IRAs won't let you deduct your contributions. But once you've retired, you can withdraw the entire contribution amount plus any accrued interest. There is no minimum withdrawal required, unlike a traditional IRA. You don't have to wait until you turn 70 1/2 years old before withdrawing your contribution.
Do You Need to Open a Precious Metal IRA
Before opening an IRA, it is important to understand that precious metals aren't covered by insurance. If you lose money in your investment, nothing can be done to recover it. This includes all investments that are lost to theft, fire, flood, or other causes.
Protect yourself against this type of loss by investing in physical gold or silver coins. These items have been around for thousands of years and represent real value that cannot be lost. They are likely to fetch more today than the price you paid for them in their original form.
If you decide to open an IRA account, choose a reputable company that offers competitive rates and products. You should also consider using a third party custodian to protect your assets and give you access at any time.
Do not open an account unless you're ready to retire. Do not forget about the future!
Is gold a good investment IRA?
Anyone who is looking to save money can make gold an excellent investment. You can diversify your portfolio with gold. But gold has more to it than meets the eyes.
It has been used throughout the history of currency and remains a popular payment method. It's often referred to as “the world's oldest currency.”
But gold is mined from the earth, unlike paper currencies that governments create. It's hard to find and very rare, making it extremely valuable.
Gold prices fluctuate based on demand and supply. If the economy is strong, people will spend more money which means less people can mine gold. Gold's value rises as a result.
On the flip side, people save cash for emergencies and don't spend it. This increases the production of gold, which in turn drives down its value.
This is why it makes sense to invest in gold for individuals and companies. If you make an investment in gold, you can reap the economic benefits whenever the economy is growing.
Your investments will also generate interest, which can help you increase your wealth. Additionally, you won't lose cash if the gold price falls.
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
Guidelines for Gold Roth IRA
Start saving as soon as possible to save for your retirement. It is best to start saving for retirement as soon you can (typically at age 50). It's vital to contribute enough money each year to ensure adequate growth on an ongoing basis.
You may also wish to take advantage of tax-free investments such as a SIMPLE IRA, SEP IRA, and traditional 401(k). These savings vehicles allow you to make contributions without paying taxes on earnings until they are withdrawn from the account. These savings vehicles are great for those who don't have access or can't get employer matching funds.
It's important to save regularly and over time. You may not be eligible for any tax benefits if your contribution is less than the maximum allowed.
By: Learn About Gold
Title: Advantage Gold Gold IRA Review
Sourced From: learnaboutgold.com/review/advantage-gold-gold-ira-review/?utm_source=rss&utm_medium=rss&utm_campaign=advantage-gold-gold-ira-review
Published Date: Wed, 16 Nov 2022 19:55:20 +0000
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