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Are you ready to open a Gold IRA to diversify your portfolio and make sure you’re in a good position when you’re ready to retire? If so, you may be feeling a bit overwhelmed and unsure about exactly where to start. The first thing you’ll want to do is to find the right Gold IRA advisor and precious metals investment company to work with.

Once you’ve found a trustworthy and knowledgeable gold advisor, the rest of the process will just fall into place. They’ll be there to offer the guidance and assistance you need and will be able to answer any questions that come up along the way. So, how are you supposed to find the best Gold IRA advisor to work with when there are so many different companies offering this service? Keep reading, and we’ll highlight some important factors to guide your search. We’ll also share some of our top recommendations.

What is a Gold IRA

Let’s start by taking a small step back and reviewing what a Gold IRA is. Gold IRAs are one form of a Self-Directed IRA. With this type of account, you have more flexibility with how you invest your money for retirement. Rather than being limited to only being able to invest in stocks and bonds, you can add alternative assets to your account. In the case of Gold IRAs, those alternative assets are gold, silver, and other precious metals. Beyond the benefit of getting more say in how your money is invested, there are several other benefits of investing in precious metals in your IRA. We’ll explore some of these benefits in the next section.

Why Set Up a Gold IRA

So, what exactly are the reasons you should open a Gold IRA? One reason, perhaps the biggest, is that doing so will help you achieve a more diversified portfolio. Leaving all of your money invested in the stock market can come with a lot of risks. If the market were to suddenly drop or crash, it would take nearly all of your savings with it. If, however, some of your money was invested in precious metals, the impact of a crashing stock market wouldn’t be as catastrophic on your overall portfolio.

Gold IRAs can also help hedge against inflation. When inflation happens, the purchasing power of the dollar decreases. Similarly, if you have money invested in stocks and bonds, the comparable value of your portfolio will also be less when you consider that everything else is getting more expensive to purchase. However, because the value of gold is not related to the value of the dollar, it has historically been a smart investment to provide some balance and support to a portfolio during times of inflation.

You may also want to consider investing in gold because of how prized it is around the globe. In addition to being so highly sought after, gold is also in limited supply. These two factors can work together to drive its value up. Similarly, whenever you’re ready to sell your investments, you should find it easy to locate a buyer for your precious metals. Because so many people desire gold, it is easy to liquidate and get fast access to cash. The same is certainly not true for other types of investments, like real estate.

One final reason to consider investing in precious metals in an IRA, though there are definitely others, is the tax advantages. As with standard IRAs, Gold IRA holders benefit from favorable tax laws. With a Traditional Gold IRA, you can deduct your contributions and will only have to pay taxes once you start taking distributions after retiring. With Roth Gold IRAs, you will pay taxes on the money upfront and then be able to withdraw it from your account without paying any additional taxes after retiring.

How to Find the Best Gold IRA Advisor

Are you ready to start enjoying all of these benefits associated with adding precious metals to a Gold IRA? If so, it is time to find the best Gold IRA advisor to walk you through the process. Read on to identify key criteria to guide your search and help you find the right company to work with.

Read Through Past Customer Reviews

One of the first things you should do to learn more about a company is to look through the reviews that have been left by past customers. These reviews can give you an inside look at what you can really expect as a client of a given precious metals provider. As you read through the reviews, look for information about the customer service past customers received, whether they were satisfied with the quality of the precious metals they received, and their overall impression of working with the company. There may always be a few fluke reviewers who are just impossible to please. In most cases, you may be able to disregard a few negative reviews. However, if you notice any patterns after reading through several reviews, it can help you decide whether you should consider working with a particular company.

Compare Ratings with the BBB and BCA

In addition to reading reviews written by previous clients, it is also a good idea to look for information from the Better Business Bureau and Business Consumer Alliance. Both of these organizations rate companies on a variety of factors (not influenced by customer reviews). Looking at these ratings can also help you learn more about the trustworthiness and integrity of each company you’re considering working with. The highest score to look for with the BBB is an A+, and the highest rating available from the BCA is an AAA. If you see scores lower than these, particularly ones that are significantly lower, it may be a red flag that the company isn’t the best choice to work with.

Research the Fees Charged by Each Company

Fees are a given when you’re opening a Gold IRA. Just as you’ll have to pay management fees for a stock market account, the same is true for your Precious Metals retirement account. However, the fees you’ll have to pay can vary some between companies. So, before signing on the dotted line with anyone, review the fees they charge and compare these figures against those from other companies. Remember that you will need to pay more for segregated (separated) storage for your precious metals. You should expect this fee to be higher than those for unsegregated storage options (where your precious metals are stored together with those of other individuals).

Compare the Selection of IRA-Approved Precious Metals

Next, don’t forget to look over the selection of IRA-approved precious metals available through each company. First, consider whether you are looking to invest in solely in gold and/or silver or if you’d also like to hold some platinum and/or palladium bars and coins in your account. You’ll find that only some precious metals providers offer the option to invest in palladium or platinum. If holding either of these assets is important to you, then be sure to choose a company that gives you the option to invest in them.

Another thing to consider is which bars and coins you want to hold in your account. There are numerous IRA-approved options available, but not every company will carry each option. If there are any coins that you strongly desire to hold in your account, be sure to confirm that they are offered through the company you want to work with.

Consider any Special Promotions

Finding a company that is offering a special promotion for opening an IRA can give you an extra reward for something you were planning on doing anyway. For example, Goldco is currently running a promotion where individuals who set up an IRA can earn up to $10,000 in free silver. The amount you’ll be eligible to earn will vary based on the total value of the retirement account you roll over. Earning any free silver will only boost the value of your portfolio and offer it greater diversification. If you can find a company you like that is offering a promo, it could help seal the deal.

Set Up a Call

Finally, before you make any final decisions, consider reaching out to a few of the companies on your list to schedule a call with an advisor. By speaking with a representative from the company, you’ll be able to learn more about their business practices and get a feel for how you’ll be treated as a customer. If you have any questions about how the company does business or their selection of precious metals, now would be the perfect time to ask.

Our Recommendations

Now that we’ve shared more about what you should look for when choosing a Gold IRA advisor, let’s jump right into our top recommendations. Rather than scouring the internet for a company that you’ll be able to trust, we’ve done the legwork for you. The companies featured below have an excellent reputation in the industry and offer top-notch customer service. We think you’d be happy with a decision to work with any of them.

#1. Goldco

Goldco is, hands-down, our favorite Gold IRA company. They have over a decade and a half of experience. Since the company was founded by Trevor Gerszt, Goldco has become one of the premier options for those looking to invest in precious metals. They have an astounding amount of positive reviews from past customers, an A+ rating from the Better Business Bureau, and an AAA score from the Business Consumer Alliance.

When you browse through Goldco’s selection of precious metals, you’ll notice that they offer several different options for their investors to choose from. When you’re looking for gold bars, gold coins, silver bars, or silver coins, Goldco has you covered.

Goldco specializes in helping their customers open a Gold IRA. They will be right with you throughout the entire process, helping you with paperwork and addressing any questions that arise.

Goldco works with the Delaware Depository to store the precious metals for their customers. The Delaware Depository is one of the most trusted names and will do an excellent job protecting your precious metals. All accounts in the depository are also protected by a full-coverage insurance policy. This means that you will not be held liable if your precious metals are lost, stolen, or damaged.

If you really need another reason to consider working with Gold, take a look at the special promotion they are offering for new IRA customers. As mentioned above, this promotion can help you earn up to $10,000 in free silver. This can be a real boost to your portfolio.

#2. Augusta Precious Metals

Augusta Precious Metals is our runner-up for the best Gold IRA company. Augusta Precious Metals was founded in 2012. The company shares three top priorities on their website: transparency, simplicity, and service. These priorities provide you with a better idea of what the company values and how you can expect to be treated as a customer.

Augusta Precious Metals strives to keep the IRA set up process as stress-free and simple as possible. A team member will help you understand the process, assist you in completing the paperwork, and connect you with a Gold IRA custodian to roll over or transfer the funds from your existing account.

You’ll find several gold and silver bars and coins available through Augusta Precious Metals. If you have questions about which of these coins or bars you should add to your account, your account representative will be to share their insights and opinions with you. Augusta Precious Metals also works with the highly-trusted Delaware Depository to store the gold and silver for your IRA account.