How Does A Gold IRA Work?

A gold IRA works in much the same way as most IRAs, except you are investing in hard assets within your self directed gold IRA account. A self directed IRA allows you to invest in alternative investments as defined by the IRS which includes gold, silver and other precious metals.

The administration of the gold IRA’s physical assets are performed by an IRS approved custodian that you assign and your metals are stored in an IRS approved valt or depository.

You may open gold IRA account if you are under 70 1/2 years old and have earned income. You may start taking distributions at age 59 1/2. Taxes on withdrawls depend on your age and income at the time of withdrawl.