Opening a silver IRA account can have numerous advantages for any investor, regardless of age or investing experience. But like any investment, you’ll want to do some basic research first to determine if it’s the right strategy for you.
The very first thing you’ll want to do is consider the potential benefits and how they could apply to your situation.
There are actually several great reasons why people put their savings into IRAs backed by silver. Here are just a few:
− Diversification of your portfolio
Putting all your retirement funds into paper assets can be a big mistake if the stock market experiences a major jolt – and history has shown this can happen at any time. A silver IRA account thus helps protect your savings from the volatility of stocks and other markets.
− Growth potential
The value of silver has grown considerably over the last decade, and analysts predict further big gains in the years ahead as demand increases and supply diminishes.
− Protection from the declining dollar
As the value of the dollar sinks, so does Americans’ purchasing power. Building your retirement strategy around silver and gold investments can help preserve your wealth for the future.
− Alternative to low-yield savings accounts & CDs
Savings accounts, CDs and similar liquid asset accounts may seem like low-risk alternatives to the stock market, but the returns are usually not very substantial. Precious metals are a great alternative to these accounts, as they can have higher growth potential.
1) Choose a precious metals firm
This is perhaps the most important step of the process, because you want to make sure you choose an experienced precious metals company that specializes in silver IRAs. They will provide the guidance you need to select the right investments and open your account in a timely fashion.
2) Determine what makes most sense for you
Your retirement strategy should be influenced by your long-term goals, desired retirement age and current financial situation. Ask your advisor to provide recommendations that are specific to your needs, and take the time to understand your options.
3) Rollover other eligible accounts, if applicable
Eligible 401(k)s and funds from paper IRAs can be converted into a silver-backed IRA. This is a simple process, and your precious metals specialist will walk you through the process.
4) Choose your precious metal investments
You may discover that it makes more sense to diversify your retirement account even further with other precious metals in addition to silver, such as gold and platinum. A knowledgeable account specialist can help you choose the best options for your needs and goals.
Our knowledgeable advisors will walk you through the process of opening your IRA or converting funds from other accounts, and we’re happy to answer any questions you may have.
Birch Gold Group is rated A+ by the Better Business Bureau, and we are dedicated to helping you reach your retirement goals with smart investments in precious metals.
Call (800)355-2116 today or fill out the form on this page for more information on silver IRAs