Company Name: Rosland Capital
Website: http://www.roslandcapital.com
Founded: 2008
Owners: Marin Aleksov (CEO)
Location: Santa Monica, CA 90401
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Rollover IRA Account
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A rollover IRA account is a traditional IRA account that is commonly used by individuals who have either changed jobs or seek to create an IRA that better suits their needs. A new IRA can hold assets that have been distributed from the retirement plan sponsored by employers such as a 401(k) or Profit Sharing Plan. Individuals can roll-over any amount of money into their rollover IRA account. Further, 401(k) plans can be rolled-over into a retirement plan 401(k), 403(b) or 457 provided by a new employer.
How to Roll Over an IRA Account?
Your retirement plan, an IRA for example, can be rolled-over prior to retirement, meaning you can deposit a withdrawal from an old IRA into another retirement plan/IRA within a period of 60 days of dispersal. Further, you can also organize a direct transfer from your current plan/IRA into another plan/IRA.
Direct Rollover
If you are planning a direct rollover, then you must ask the administrator of your current retirement plan to directly transfer the money from your account into another retirement plan/IRA. On your request, the administrator might issue a check for transferring the amount to your new account. In the case of a direct transfer, the administrator will not deduct any taxes from the amount being transferred.
Trustee-to-Trustee Transfer
If you want to move funds from an old IRA to a new IRA, you may request the financial institution where you hold your old account to make a direct payment into another IRA/retirement plan. This is referred to as a Trustee-to-Trustee transfer and no taxes will be deducted from the transfer amount.
60-day Rollover
If a check from your retirement plan/IRA has been sent to you directly, then you must deposit the distribution into another retirement plan/IRA within 60 days or the IRS may treat it as a withdrawal and expect taxes to be pad on it. You will have to pay taxes on any early distribution amount and possibly a 10% penalty for early withdrawal if you are less than 59.5 years old.
Benefits of Setting Up a Gold IRA
If you are looking to protect your retirement funds from getting eroded because of inflationary and recessionary effects, you need to consider diversification of your retirement investment portfolio. Specifically, you need to consider investing in precious metals such as silver, gold, platinum and palladium. This is because those precious metals can diversify your portfolio and they also have intrinsic value.
Gold is money and a store of value. Setting-up a gold IRA account could be the wisest portfolio management choice you will make. The benefits offered by a gold-backed IRA are as follows:
#1: Gold is a highly traded and liquid asset. The precious metal is traded 24×7 around the world.
#2: A number of IRA investment options such as stocks, treasury bonds and real estate are affected by inflation. During difficult times, they all can be deeply adversely affected. In fact, many of them have failed to fully recover after the 2008 recession. However, gold has an intrinsic value and that is not dependent on a currency. Gold stores value by its own properties.
#3: It is not wise to solely rely on paper-based assets. Experience shows that paper money – called currency – can lose its value over the years. The value of the US Dollar is falling steadily over the long-term. Diversification of your investment portfolio with a gold-backed IRA is one way to protect yourself against a currency collapse.
Owning Physical Gold in an IRA
The IRS has made it possible for you to own physical gold in a tax-deferred IRA. You are also permitted to convert your existing IRA into a gold-backed IRA through a process known as Gold IRA rollover using a self-directed IRA. It is easy to create a Gold IRA, but you need to find a reliable and trustworthy dealer to work with. The top dealers are all carefully reviewed on this site. Choose the one who looks most trustworthy and reputable to you.
Once you have set up a Gold IRA with one of the specialized custodians, you can make cash contributions to your account and then direct the custodian to buy physical gold assets as allowed. You cannot add the coins that you already have with you. Further, the coins and bars that you buy using your IRA should be at least 0.995 fine or better, depending on the precious metal in question. This means that you cannot buy British Sovereigns or Krugerrands. However, silver and gold eagles are allowed.
Doing a rollover IRA account is a good way to start a self-directed IRA that holds physical gold or silver.