Gold and Other Metals– What Can I Buy with My IRA?

You’ve probably seen evidence of the modern day gold rush – everything from Super Bowl commercials to famous financial advisors telling you to buy gold. In the past six months, many people have asked us if they can use their retirement funds to buy gold and other metals. The answer is YES, if you have a self-directed retirement plan such as those provided by New Direction IRA, your IRA may invest in precious metals. This article will help you answer the next question, what kind of gold and what other metals? With so many coins and metal choices out there in the market it can be somewhat confusing. Following is a simple step-by-step way to determine if the metal of your choice is acceptable for an IRA investment. Note that whatever your choice, the IRS will not allow you to hold the metal personally. The IRA custodian or depository will hold the metals for your IRA.

Steps to start a gold IRA
Start a Gold IRA You have heard about Precious Metal IRA & Gold IRAs, but you have questions about the process. This page will take you step-by-step to help you understand the process from beginning to end. IRA Guide Step 1 Step 1: Open an Account The first step in the Gold IRA purchase process is to complete an application and open a Self Directed account. Select from Traditional IRA, Roth IRA, SIMPLE, SEP, Individual(k), HSA or Coverdell. It will take four business days, after New Direction has received completed paperwork, to open an account.