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, security, products and fees. 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 whenever 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
- Gold American Eagle Proofs
- 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 free first-time investor program. It includes a free guide for gold IRA investing. 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 in your home for IRAs. 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 or 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 basic options, costs, and expectations.
- 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-time investors 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 about a reasonable investment and future contribution plan 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: firstname.lastname@example.org
- Address: 12100 Wilshire Blvd. Suite #1450 Los Angeles, CA 90025
- Support hours Monday through 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
How do I Withdraw from an IRA of Precious Metals?
If you have an account with a precious-metal IRA company like Goldco International Inc, you might consider withdrawing your funds. You can sell your metals at a higher price if they are still in the account than if you left them there.
Here is how to withdraw precious metal IRA funds.
First, find out whether your precious metal IRA provider allows withdrawals. Some companies will allow withdrawals, while others won't.
Second, determine whether you can take advantage of tax-deferred gains by selling your metals. This benefit is available from most IRA providers. However, some don't.
To find out if fees apply, thirdly check with your precious-metal IRA provider. The withdrawal may cost extra.
Fourth, keep track of your precious metal IRA investments for at least three years after you sell them. For capital gains to be calculated, wait until January 1, each year. You will then need to file Form 8949 which contains instructions on how to calculate the amount of gain that you have realized.
In addition to filing Form 8949, you must also report the sale of your precious metals to the IRS. This step ensures that you pay taxes on all profits earned from your sales.
Consider consulting a trusted attorney or accountant before selling your precious metals. These professionals can ensure that you adhere to all procedures and avoid costly errors.
What are the 3 types IRAs?
There are three types of IRAs. There are three types of IRAs: Roth, Traditional, and SEP. Each has its own advantages and disadvantages. Each of these types will be described below.
Traditional Individual Retirement Account (IRA)
A traditional IRA allows you contribute pretax money to an account which can be used to defer taxes and earn interest. When you retire, your withdrawals are not subject to tax.
Roth IRAs allow you after-tax dollars to be deposited into an account. Any earnings will grow tax-free. You can also withdraw money from the account to retire your funds tax-free.
Similar to a Roth IRA except that employees must make additional contributions. These extra contributions are subject to income tax but any earnings will grow tax-deferred again. When you leave your company, you may convert the entire amount into a Roth IRA.
Does a gold IRA make money?
Yes, but not as much. It depends on what level of risk you are willing take. If you can afford to invest $10,000 every year for 20-years, you could possibly have $1,000,000 by retirement age. However, if you have all your eggs in one place, you could lose everything.
Diversifying your investments is important. Gold does well when there is inflation. You want to invest in an investment asset that rises with inflation. Stocks excel at this because they rise with increased profits. This is also true with bonds. They pay interest each and every year. They're very useful during periods of economic growth.
But what happens when there isn't any inflation? Stocks fall more and bonds lose value during deflationary times. Investors should not put all of their savings in one investment such as a stock mutual fund or bond.
Instead, they should combine different types funds. They could also invest in bonds and stocks. They could invest in both cash as well as bonds.
They are exposed to both sides of a coin. They can see both the inflation and the deflation sides of the coin. They will still see a return in time.
What is a Precious Metal IRA, and how can you get one?
Precious metals are an excellent investment for retirement accounts. They have held their value since biblical times. Investing in precious metals such as gold, silver, and platinum is also a great way to diversify your portfolio and protect against inflation.
Some countries also allow citizens to keep their money in foreign currency. You can buy gold bars in Canada, and then keep them at the home. Then, when you travel to Canada, you can make the same gold bars and sell them for Canadian Dollars.
This is a great way to invest in precious metals. This is especially helpful if you don't live in North America.
How much of your portfolio should be in precious metals?
Protect yourself against inflation by investing in physical gold. You can invest in precious metals to buy into their future value, and not just the current price. As prices rise, so does your investment's value.
If you hold on to your investments for at least five years, you will receive tax benefits on any gains. You will also have to pay capital gains taxes if your investments are sold after the five-year period. You can learn more about gold coins by visiting our website.
What precious metal should I invest in?
High returns on capital are possible with gold investments. It protects against inflation as well as other risks. People become more concerned about inflation and the gold price tends to go up.
It is a smart idea to buy gold futures. These contracts guarantee you will receive a certain amount of gold at a fixed price.
But, not everyone is able to afford gold futures. Some prefer to have physical gold.
They can easily trade their gold with others. They can also easily sell it whenever they like.
Many people prefer not to pay taxes on their gold. To avoid paying taxes on their gold, they purchase it directly from the government.
This will require several trips to your local Post Office. You will first need to convert any existing gold in coins or bars.
Then, you need to get a stamp on those coins or bars. Finally, you send them to the US Mint. There, they melt down the coins and bars into new ones.
These new bars and coins have the original stamps stamped on them. They are therefore legal tender.
However, if you purchase gold directly from the US Mint you won't be required to pay any taxes.
Which precious metal would you prefer to invest in?
How to Open a Precious Metal IRA
An IRA to hold precious metals can be opened by opening a Roth Individual Retirement Account (IRA) that is self-directed.
This type of account is superior to other types of IRAs in that you don't pay any taxes on the interest earned from your investments, until you withdraw them.
This makes it very attractive to people who want to save money but also need a tax break.
You don't have to invest in silver or gold. If it meets the IRS guidelines, you can invest in any asset that interests you.
Many people think only of silver and gold when they hear the word “precious metallic” but there are other types.
Some examples include palladium, platinum, rhodium, osmium, iridium, and ruthenium.
You have many options to invest in precious metals. Two of the most popular ways to invest in precious metals are buying bullion coin and bar coins, and also purchasing shares in mining corporations.
Bullion Coins and Bars
One of the most straightforward ways to invest is to buy bullion coin and bars. Bullion is a general term that describes physical ounces, or physical gold and silver.
When you buy bullion coins and bars, you receive actual pieces of the metal itself.
While you might not feel any change when you buy bullion coin bars or coins from a retailer, you will experience some benefits over time.
You will receive a tangible piece if history, for example. Each coin and bar is unique.
When you look at face value of the coin, you'll often find that it's worth far less than its nominal value. In 1986, the American Eagle Silver Coin was $1.00 per ounce. Today, however, the American eagle's price is closer to $40.00 per an ounce.
Bullion has had a tremendous increase in its value since its introduction. This is why many investors choose bullion bars and bullion coin over futures.
Investing in shares of mining companies is another great option for those looking to buy precious metals. When you invest in mining businesses, you are investing in their ability to produce silver and gold.
You will then receive dividends, which are calculated based upon the company's profit. These dividends will be used to pay shareholders.
The company's growth potential will also be of benefit to you. As the demand for the product grows, the company's share price should increase.
You should diversify because these stocks have a tendency to fluctuate in their prices. This allows you to spread your risk among multiple companies.
But, remember that mining companies, like all stock market investments, are susceptible to financial loss.
If gold prices plummet significantly, ownership of your shares could be worthless.
The Bottom Line
Precious metals like gold and silver can provide safety during economic uncertainty.
But, silver and gold can be subject to price swings. If you're looking to make a long-term, profitable investment in precious metallics, then consider opening a precious precious metals IRA Account with a reputable business.
You will be able to take advantage of tax incentives while also benefiting from physical assets.
- Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
- You can only purchase gold bars of at least 99.5% purity. (forbes.com)
- The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
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- Understanding China's Evergrande Crisis – Forbes Advisor
How to Decide if a Gold IRA Is Right for You
Individual Retirement account (IRA), is the most widely used type of retirement plan. IRAs are available through employers, banks, mutual funds, and financial planners. Individuals are allowed to contribute up to $5,000 each year to IRAs without having to pay tax consequences. This amount is available to all IRAs, regardless of age. You can only put a certain amount into an IRA, but there are restrictions. A Roth IRA is only available to those who are at least 59 1/2. You must wait until your age 70 1/2 to make contributions if you are under 50. Additional, employees who work for their employer might be eligible to receive matching contributions.
There are two types primarily of IRAs. The traditional IRA allows you the opportunity to invest in stocks and bonds as well as other investments. However, the Roth IRA only allows you to invest after-tax dollars. Roth IRA contributions don't get taxed as soon as they are made. However, withdrawals from a Roth IRA will be taxed again. Some people prefer to combine these two accounts. There are pros and cons to each type of IRA. So what should you consider before deciding which type of IRA works best for you? Below are three important things to keep your mind on:
Traditional IRA Pros
- Each company has its own contribution options
- Employer match possible
- It is possible to save more than $5.000 per person
- Tax-deferred Growth until Withdrawal
- There may be restrictions based upon income level
- The maximum contribution limit is $5,500 per year ($6,500 if married and filing jointly)
- The minimum investment required is $1,000
- You must start receiving mandatory distributions after age 70 1/2
- You must be at the least five years of age to open an IRA
- Cannot transfer assets between IRAs
Roth IRA pros
- Contributions are free of taxes
- Earnings increase without tax
- No minimum distributions
- Stocks, bonds, and mutual fund investments are the only options.
- There is no maximum contribution limit
- No limitations on transferring assets between IRAs
- Age 55 or older to open an IRA
Considering opening a new IRA, it's essential to know that not all companies offer the same IRAs. Some companies offer the option of a Roth IRA, while others provide a choice between a Roth IRA and a traditional IRA. Others will give you the option to combine them. It is also important to note that different types IRAs will have different requirements. Roth IRAs don't have a minimum capital requirement. Traditional IRAs only require a $1,000 minimum investment.
The bottom line
The key factor in choosing an IRA account is whether you wish to pay taxes now, or later. If you plan to retire in the next ten years, a traditional IRA might be the best choice. Otherwise, a Roth IRA may be better suited for you. However, it's always a good idea for you to talk with a professional regarding your retirement plans. An expert can advise you on the best options and how to navigate the market.
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