Company Name: Monex Precious Metals
Founded: 1/1/1967 per BCA report
Main Office Location: Newport Beach, CA 92660
Owners: Louis Carabini – Founder
Better Business Bureau: Accredited Business by BBB since 9/29/2011. Click Here to Read the BBB Report
BBB Rating: A+ (as of April 2016)
Business Consumer Alliance: Click Here to Read the BCA Report
BCA Rating: AAA (as of April 2016)
Trustlink Star Rating: 4 of 5 stars, based on 40 reviews as of April 2016.
Yelp: No Reports. Click Here to See Yelp.
Yelp Rating: Not Rated
RipOff Report: 7 Reports as of April 2016. Click Here for Reports on the Ripoff Report.
10 complaints at the BBB in last 3 years, as of April 2016.
- 1 complaints at the BCA in the last 3 years, as of April 2016
OUR ADVICE: Read our reviews and speak to several companies. Choose the company that seems most trustworthy and the best fit for your needs.
BBB: Rating of A+, 0 complaints
Check out our review of Regal Assets here.
You can also see our other reviews of gold investing companies online.
Editor’s note: If any information contained herein is found to be inaccurate, please notify us.
Silver IRA Rollover
Starting a Silver IRA Rollover account is a smart idea for techno-savvy individuals preparing for retirement. It is important to know the different types of IRS approved silver metals for these accounts. This rollover process is IRS approved and 100 percent tax free. You will have physical silver bars and coins stored in an IRS sanctioned depository after opening a silver IRA.
You will be able to invest in silver after setting up a self directed IRA, but you will not be investing in silver stocks or mutual funds. The goal here is to purchase and hold physical silver. You will have an option of either selling your metals for cash or receiving them directly after reaching your retirement age. The main benefit of adding silver to your retirement portfolio is to take advantage of tax benefits and the potential for silver to appreciate, especially in a period of financial turmoil. It is advisable to consult an IRA specialist and to work with a top-tier precious metals dealer prior to investing in a silver IRA. Get your free investment guide to get started.
Why a Silver IRA Rollover Is Important?
This rollover is ideal for clients who currently own a Simple IRA, SEP, Roth or a Traditional IRA. Other types of accounts that may qualify for this rollover include a Beneficiary IRA, non-prototype IRA, TIAA CREF, Thrift Savings Plan, pension plan, 401(k), 403(b) and 457 Deferred Compensation Plan. You can choose to transfer a portion or your entire IRA. This is referred to as a “Direct Transfer” or a “Direct Rollover”. The IRS allows you to transfer funds from one IRA into another IRA free of tax penalties.
A majority of people have old 401(k) accounts. Others have retirement plans from previous employers such as a 403(b), 457(b), pension plan, annuity or Thrift Savings Plan. These plans can also be converted into a silver IRA by requesting a rollover. There are no tax charges during this process. It is important to contact your Silver IRA specialist to ascertain whether your current retirement account is eligible.
Investing in Silver
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The Benefit Of Having A Self-Directed IRA
A self-directed IRA gives you a unique opportunity to decide exactly what you want to invest in. This allows you to safely own precious metals along with real estate, mutual funds, bonds, or stocks in a tax-deferred account. These assets are safely stored with a secure and IRS-approved Depository.
Benefits Of A Silver IRA Rollover
(a) Hedge against currency value depreciation:
This is the cardinal benefit of transferring a portion of your IRA to a Silver IRA. The IRS only allows certain types of silver into an Individual Retirement Account. Silver has been a store of value since time memorial. It is still performing as a store of value today even during harsh economic times.
The intrinsic value of silver cannot be altered by governments or central banks. This is mainly because it cannot be created out of thin air and it is in limited supply. Silver as money is one of the most genuine forms of true money in existence. Silver in your IRA is a perfect way of mitigating risks that are caused by turbulent economies and high rates of inflation. A silver IRA is therefore a perfect financial portfolio that safeguards investors against paper asset depreciation.
(b) Universal demand:
Silver is among the most important precious metals. It is used in different industries around the world and is high and constant demand. Some countries such as India and China have acquired vast amounts of silver as a long-term asset. China has made silver available at local banks to encourage its citizen to purchase silver bullion.
(c) High industrial demand:
Even given the fact that the ability to mine silver is limited, it is very critical in industrial technology. Unique properties that make silver ideal for industrial applications include: ability to withstand high temperatures, electrical and thermal conductivity and its strength.
Other Benefits Of Investing In Silver
(a) Risk diversification:
Diversifying risks is always of paramount importance to create a robust investment portfolio. This is a sound investment for both young and old. It is a store of value and has long served as a monetary metal.
(b) Easy to liquefy:
There is a constant and strong demand for silver bullion coins and bullion bars. This type of investment can therefore be more easily sold than other less liquid assets.
(c) Variety of investment options:
Mastering the knowledge to invest in silver bullion coins and bars will help you make good money or preserve your wealth. You can trade in different types of silver coins and bars depending on your personal interest.
Investing in precious metals such as silver and gold is considered by many to be more secure than bonds and stocks over the long term. This is mainly because this investment is a physical product that has intrinsic value. Bullion coins are generally valued by the amount of silver and gold in them.
In summary, requesting a Silver IRA Rollover is a smart idea for investors willing to invest in physically held silver and other precious metals. It is always advisable to work with a reputable Silver IRA specialist. Investing in precious metals is a good way to prepare for a happy retirement.