Self Directed Silver IRA Accounts
Nowadays, gold is so well known as an investment opportunity that many refer to precious metals IRAs simply as “gold IRAs.” However, the precious metals category in individual retirement accounts includes several other metals, including silver. Like gold, silver has been widely used as a form of currency for millennia. It is considered an attractive, durable, useful substance, giving it inherent and lasting investment value. Rather than tethering your retirement portfolio to the unpredictable twists and turns of the stock market, you can secure your assets with silver.
If you’re interested in pursuing physical precious metals as an investment opportunity, you’d be remiss to focus on gold alone. A silver IRA is an outstanding option that offers many oft-overlooked advantages. To learn more about why putting silver in IRA accounts could benefit you and how you can do so, check out Advantage Gold’s free guide to precious metals IRAs. Below, we expand on the merits of a silver IRA, discuss the distinctive retirement benefits of this type of account, and go over how to purchase specific metals for your self directed IRA.
Why Choose a Silver IRA?
When you venture into the exciting world of precious metals IRAs, you have a bounty of investment options. While you might be tempted to just go with gold, a silver IRA may actually be an even better choice. Many investors herald the valuable virtues of a silver IRA because:
- Fewer people are securing their IRAs with silver. Often, the best investment vehicles are those that only the savviest financial gurus have their eyes on. The fact that silver isn’t as popular as gold is actually a blessing, allowing investors to get more out of this burgeoning asset and enjoy its many advantages. The market is less cutthroat and competitive than it is for gold or other assets, while often offering equal or better returns.
- This precious metal is a more affordable investment option. The per ounce cost for silver is tens or even hundreds of times smaller than the per ounce cost for gold. Those who might like to save for retirement with precious metals but can’t afford gold’s soaring costs are able to secure their financial futures with silver.
- This precious metal is an excellent diversification tool. Precisely because silver is a more accessible asset, putting it in IRA accounts is potentially an even better way to diversify your portfolio. Silver can take up less of your overall investment potential while still offering all the benefits of precious metal assets.
- Silver is actually more scarce than gold. According to recent research, a whopping 5 billion ounces of gold exist above the ground on Earth, while only roughly 450 million ounces of silver do. In fact, modern mining isn’t even keeping pace with the rate at which we’re using silver. As even fledgling financial enthusiasts know, the basic rules of supply and demand make silver favorable.
- Silver is a powerful commodity with many uses. Paper assets are relatively flimsy. Stocks, mutual funds, and even cash rely on erratic economic forces. At the end of the day, they are just that: paper. In contrast, silver has tangible, enduring value on its own merits. It is a beautiful, hardwearing, strong metal that, perhaps, has even more applications than gold. Silver is used in everything from jewelry to industrial construction to medicine. No matter what happens, it will retain its essential value.
- Silver tends to perform well during times of economic crisis. Due to its physical worth and proven history, silver tends to remain strong during difficult times. This makes it an excellent defense against the seesaw of the stock market and the volatility of the economic climate.
These are just a few of many reasons to consider IRA silver for your investment portfolio.
Investing in silver can help you provide for yourself and your family when the time comes for you to stop working. If you’re starting your retirement fund with a silver IRA, you can set one up from scratch. If you already have a traditional IRA, 401(k), 403(b), or another type of retirement account, you can perform a silver IRA rollover to secure it with this precious metal. Silver provides particularly excellent support for your retirement because it:
- Provides protection from the ups and downs involved in paper assets so you have money to retire with no matter what happens.
- Has a stable baseline value, since it is a sought-after commodity with positive physical qualities.
- Offers peace of mind today that you will have income in your later years.
- Has a great deal of room to grow as an investment, since many investors are just now realizing its powerful potential.
- Is structured around self directed IRAs, which have fewer fees, qualifications, and restrictions than traditional IRAs, with all of the tax benefits of these accounts. If you currently have your retirement secured in an alternate account type, a reliable trustee can help you with a silver IRA rollover.
A dependable IRA specialist can help you learn more about the specific advantages IRA silver can offer for your retirement.
How to Buy IRA Eligible Silver
To reap the rewards of precious mental investing when you retire, you can obtain the assistance of a reputable financial firm. A qualified IRA custodian can help you with the actual purchasing precious metals process. He or she is responsible for answering all of your questions, from explaining why silver is a good choice for your retirement to describing how to purchase silver bars.
According to strict IRS specifications, it is your custodian that must actually purchase and store the silver. As the account owner, you will collaborate closely with your trustee to select silver investments, so you should know which assets are appropriate for your account. So, what is IRA eligible silver? The IRS has approved certain coins, including American Eagle Silver Coins, Proof American Eagle Silver Coins, Austrian Vienna Philharmonic Coins, and others. When buying silver bars, tips include finding a reputable supplier, such as Dallas Gold & Silver Exchange or United States Money Reserve, and making sure your silver meets the IRS standard of 0.999 purity.
Get More Information
Are you ready to invest in silver for your golden years? Advantage Gold’s free guide can help you learn more about silver and other precious metals IRAs. You can also use Regal Assets’ free IRA set up kit to help you begin this exciting journey.