In the world of investments, there are many different methods to allowing your money to work for you and build up for the time you retire. One of the most popular methods of saving and investing for your retirement is through individual retirement accounts, also known as IRAs.
IRAs are backed by several different commodities in order for them to be profitable. Many IRAs are backed by stocks and bonds and some IRAs are backed by actual currency such as US dollars. However, in this economic downturn, neither of these commodities have been performing very well. One particular commodity, however, has been on the rise for the past 10 to 15 years, and that commodity is gold. This is precisely why many people are looking for a gold ira rollover to help their retirement accounts perform better.
In reality, a gold ira rollover is actually a very simple process. All you will need to do is contact the custodian of your current IRA and request a rollover of those funds into a new IRA, in this case, an IRA that is backed in actual gold. The problem with a gold ira rollover is not actually the process of transferring the money from one custodian to another, but the type of individual retirement accounts that qualify for being rollover.
If you are an individual holder of an IRA account, meaning that your IRA is not the custodian of an employer contracted service, then you're free to do whatever you like with your individual retirement account.
However, if you're the owner of a 401(k), 457 or 403B retirement plan, the only way you can roll these accounts over to a gold IRA is if you are no longer employed by the company that enrolled you in those retirement plans. One exception to this is that if you have reached qualifying age with any of these plans. In these cases, you have the ability to move your retirement fund around as you see fit.
The bottom line is that when it comes to investment performance, few commodities can boast of the same sort of growth and value explosion as gold has had in the past few years. While gold prices change frequently, sometimes in the significant manner, gold has still outperformed most commodities, and it's likely that it will continue to do so. If you want your money to grow at its maximum, then a gold ira rollover is something you should seriously consider.