goldco GOLD IRA review
A Gold IRA retirement account allows investors to invest in physical gold. The fees can be higher, but the growth margins can be significant. Our Goldco review will provide a detailed review of the services provided by Goldco.
Specializing in asset protection, Goldco is a reputable investment company, impressing its customers with both dependability and professional services.
More and more people now consider placing their assets into a Precious Metals IRA with obvious benefits to be gained. This review contains essential information on Goldco and the services they offer.
What is a Gold IRA?
Whilst it might be common knowledge that an IRA is an individual retirement account, a Gold IRA is an individual retirement account in which physical precious metals, commonly including gold, are held in custody for the benefit of each individual.
This type of account might hold physical gold bullion, coins, and bars.
How to Invest with Goldco?
Whatever a customer’s needs might be, setting up a Gold IRA is similar to setting up a regular IRA. To start investing, a decision needs to be made on how to fund the account.
It’s recommended for customers to speak with a tax advisor if they don’t have a lot of knowledge on the subject, to see what tax liabilities may take place. Furthermore, Goldco’s professionals can help ensure that each individual retirement account allows rollovers.
It is also important to be aware that their precious assets must be stored using a custodian. Goldco will help select a suitable custodian to store the investments.
After this has been completed, the account will then need to be funded. Very often, customers roll over assets from retirement accounts to Gold IRAs.
Once the IRA is funded, you can choose what to invest in, whether this is bars or coins. An investor won’t have to worry about managing this themselves as the specialists at Goldco can guide them through the process with their expertise.
Who is it best for?
Goldco offers an efficient service for any investor with existing retirement assets who is seeking to save for their retirement. They can easily manage buying gold with 401k, allowing them to gain tax advantages and even more importantly, financial stability.
Goldco is also ideal for investors wanting a hands-off diversification process. This may be attractive to some investors since diversifying assets with precious metals can protect against events such as financial risk and inflation.
DIVERSIFY YOUR PORTFOLIO
A diversified portfolio should include a mix of tangible and intangible assets. A Gold IRA is often seen as a good investment option as it can offer a more secure form of investment.
Goldco Services
Goldco provides brokerage services for IRAs. It creates new accounts by collaborating with individual retirement account custodian companies.
They can also buy and sell precious metals when customers begin their distributions from their IRA. Whilst Goldco does help their customers set up custodian services, note that they don’t provide this service themselves.
The current custodian that Goldco uses is the Equity Trust Company for Precious Metals Accounts.
Some of Goldco’s products include:
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Gold IRA
Goldco can give customers assistance in opening up a Gold IRA. For example, this could include valuable information on what metals its customers have the opportunity to invest in.
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Silver IRA
Silver coins can be accepted with this account, and Goldco can offer guidance and advice with a Silver account if customers are unsure about the process.
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Traditional and Roth IRA Planning
Goldco can guide customers by providing expert knowledge in these fields, helping people roll them over to a Precious Metal IRA.
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401(k) Rollover
As mentioned above, Goldco can help customers roll over their traditional account into a Precious Metal IRA.
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Simple IRA Planning
They can also explain how their customers can open a Simple IRA and will provide the required rules and information they’ll need to know.
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SEP IRA Planning
Goldco can give its customers information about SEP IRAs such as contribution limits.
As demonstrated by this list, Goldco can offer its customers multiple services and advice on these individual products.
Goldco Review – Costs
The minimum required purchase for Goldco metal IRAs is $25,000 as a recommended price. For non-IRAs, the minimum fee is $3,500.
The setup fee is $50, plus a $30 wire transfer fee. The annual maintenance fee is then $80.
The storage fee and custodian fee will depend on other factors such as the individual custodian, so it would be recommended to research outside of Goldco or ask Goldco for guidance to fit the needs such as budget.
With promotions in mind, they are currently offering 10% back in free silver on qualifying accounts.
A few different factors will determine the price of each precious metal including interest rates and central bank activity.
Goldco Review – Benefits
Goldco offers a range of attractive benefits for its customers, including more than just a professionally guided way to seek more financial stability.
The hands-off opportunity with Gold and other precious metal IRAs allows people to look out for their retirement in an attractive way.
Hands-off investing means there will be little guesswork and each individual account administrator will send its client a catalogue of available items. Three main advantages of Goldco and their services include:
- Tax advantages
- It avoids the negative effects of inflation with asset diversification
- It has a respectable reputation as an investing company
Starting a Precious Metals IRA with Goldco
Starting a Goldco Precious Metals IRA is simple. Customers can directly call the company or fill in an online application form, providing very easy access. Personal identity information will be required to establish an account – for example, social security numbers.
Goldco is professional and efficient in helping set up an account with a custodian and will even email its customers an informational guide. This will educate customers on the various precious metal options before they make any investment decisions.
coins or bars
Both coins and bars are reliable investments, especially when gold is involved. It’s said that gold bars are a particularly good investment. This is because their value can be determined by the live spot price.
Coins might command higher premiums over the spot price than bars. This is because of the additional minting costs, not to mention their commemorative nature.
The customer makes the final decision in what to invest in, but Goldco’s experts will be able to guide these all-important decisions if they’re requested to.
pros and cons of Gold IRA
As with any company, Goldco has several advantages and disadvantages to weigh up. It’s recommended that all customers consider these before signing up to this company. The pros and cons include:
Pros
Goldco specializes in Precious Metals IRAs, including Gold and Silver.
It has an impressive track record of reviews and ratings.
Better Business Bureau awarded it an A+ rating. Goldco has over a decade of experience and professional experts.
Cons
The company doesn’t have custodian and storage services.
Goldco Review – Gold and Silver Guide
Before buying into any investments, customers will want to consider what they are actually worth. The purity levels of some of the common precious metals are:
- Gold: 995
- Silver: 999
- Platinum: 9995
- Palladium: 9995
The gold to silver ratio changes over time and the prices are always fluctuating. Either metal can be valued higher at any given time.
What to look out for?
It is important to be aware of certain areas before investing. Although good, overall, the company often isn’t clear about what it charges its customers.
Furthermore, customers will be required to have a minimum deposit of $20k – $25k for IRA; for non-IRA or $3,500 to even consider opening a Goldco Precious Metals IRA, a higher amount minimum than what is offered by some competitors.
Fees are as follows – $50 set up fee to open a Self Directed Precious Metals IRA; $80 annual maintenance fee, $100 storage fee (for non-segregated storage).
Goldco Reviews and Complaints
Overall, Goldco has been showered with good reviews, receiving hardly any complaints about its quality service. It’s legitimate and well-respected in its industry, primarily getting positive ratings across the board.
Trustpilot
This includes a large amount of customer data and is a website that showers Goldco with praise from its happy customers. It has a Trust Score of 4.6 stars, with 88% of the reviewers giving 5 stars (excellent).
Business Consumer Alliance
Goldco maintains the best rating it could be awarded (AAA) on this site. Goldco has received 1 complaint in the past 3 years, which the company strove to resolve by offering a partial refund to its customer.
There is little data on this site but receiving so few complaints still demonstrates the efficiency of Goldco.
Better Business Bureau
As noted earlier, the Better Business Bureau has given Goldco an A+ rating, averaging at an impressive 4.89/5 stars from 113 customer reviews. Like the Business Consumer Alliance site, Goldco has received very few complaints in the past 3 years, and many of these have already been resolved.
Trustlink
Trustlink has over 200 positive reviews of Goldco, again rating it at 4.8/5 stars. The vast majority rated this company at 5 stars, and none of the reviews left gave 1 or 2 stars.
Consumer Affairs
This site also rates Goldco at 4.8/5 stars, with an extensive number of 418 reviews made.
These reviews and ratings on different sites demonstrate how effective Goldco is as a legitimate company that goes above and beyond to help satisfy its customers.
frequently asked questions
Can I choose my own storage company?
Yes, the storage is separate from Goldco and includes several different options. DDSC is the preferred option, with $100 for the recommended non-segregated options.
Brinks Salt Lake City also offers the price of $100 for non-segregated options, whilst IDS Texas offers $150 for segregated only options.
Can I keep my precious metals at my property?
It is possible to keep your precious metals in the home if you have eligibility. Vault storage or bank safes are a preferred option for keeping your metals more secure. It is important to note that the IRS prohibits gold purchased in an ira account from being stored at home.
The vaults that the metals are held in are secure and are provided by the top storage providers in the industry to give its customers peace of mind.
How long does it take to roll over a traditional IRA into a Gold IRA?
It usually takes about two weeks. However, the rollover does vary slightly as each individual application is unique.
Is the value guaranteed for a precious metal?
Precious metals provide inflationary protection since gold and silver can hold their value even when the dollar weakens. They can’t be inflated and hold no credit risk, making them a suitable investment.
When does eligibility start for my Goldco Gold IRA?
You’ll be eligible for a Precious Metals IRA once you have earned income.
Why do we recommend Goldco?
They have a range of services available and provide precious metals for IRA and non-IRA transactions. Free storage for non-IRA transactions is provided. Goldco’s sister company also offers to place cryptocurrency in IRAs, adding to its vast array of benefits.
How does the process work?
Once customers decide to get involved with Goldco, they’ll speak to a representative and will then be contacted from an IRA Specialist. The Specialist will get the information needed to complete the customer’s application to establish a new account.
Once funds are put into the new account, customers will contact their Account Executive to choose which metals they want to purchase and hold in their account. The chosen metals will be put into the customer’s account for storage.
What separates Goldco from other companies?
Goldco’s strong reputation and expert service clearly set them apart from other companies, not to mention the wide range of products they have available for customers.
Is there a buyback program?
When customers want to liquidate their assets, the company asks for the first opportunity to buy back their precious metals, particulalry since customers will usually receive a higher price from Goldco than other companies.
Customers don’t need to sell their metals back to Goldco if they don’t want to. This is a free choice to be made by the individual.
In Summary
Our Rating – 9.9/10
This Goldco review has highlighted that Goldco are experienced in providing excellent Gold IRA services. As a result of this, they are our top pick. What makes them stand out is their decade of experience, which puts them in a solid position to give customers the most knowledge and satisfaction possible.
They have several products available. Request an investor kit for more information about them and the services they can offer to investors.