It is a huge decision to trust an organization with your hard-earned money. Depending on your financial goals, there are many gold IRA companies that offer different advantages and disadvantages.
Advantage Gold, a top-rated gold IRA company, is known for its easy precious metals IRA rollovers (from traditional accounts) and large selection of standard bullion coin options. Advantage Gold is recommended by many, regardless of whether you are interested in gold IRAs or physical precious metals.
Learn About Gold wants to help you identify the best IRA partner to meet your investment goals. This Advantage Gold review will cover the company's history, legitimacy, security and products. We also discuss customer reviews and complaints to help you understand why Advantage Gold is so special.
A Brief History of Advantage Gold
After serving as senior account executives, Adam Baratta was joined by Kirill Zagalsky to create Advantage Gold in June 2014. The company, which is based in Los Angeles, quickly rose to prominence as a leader in offering secure and convenient precious metals IRAs.
Advantage Gold believes that all clients deserve the education and support they need to make informed investment decisions. Advantage Gold is passionate about helping clients set up precious metal IRAs and roll over accounts. Clients receive personalized advice from Advantage Gold's management team, along with step-by-step support.
Advantage Gold is a partner with STRATA Trust Company and Equity Trust Company to serve as its precious-metals IRA custodians. For vaulting and insurance of your investments, the company partners with Delaware Depository and Brinks Global Services.
Advantage Gold is a legitimate company?
Advantage Gold is a legit company that has received positive ratings from many well-respected organizations. Advantage Gold is a legitimate company with a AAA rating from Business Consumer Alliance, with no complaints filed and accreditation with an "A+" rating from Better Business Bureau (BBBB) since 2014. These are customer reviews that have given Advantage Gold the following scores:
- 4.81 stars out of 5 on the BBB Website
- Rated 5/5 by 462 TrustLink users
- Rated 4.9 stars out of 5 by 747 Trustpilot users
- 4.7 stars out of 5 stars in Facebook reviews
Advantage Gold is an American Numismatic Association member, and a U.S. Mint-listed dealer.
Advantage Gold has a strong reputation, many company partnerships with industry-leading companies, and attentive support channels so you can feel confident about investing. An Advantage Gold representative can help with any questions or concerns.
Are your investments protected with Advantage Gold?
Advantage Gold has partnerships with storage facilities that will protect and insure your investments should anything happen to precious metals while they are stored in the facility. You must either purchase insurance for the premium coins or take on the risk if you store them at home.
You will not get appreciation guarantees if you invest in precious metals through any investment company. Advantage Gold can't guarantee your retirement funds, or predict the value of your future gold investments. The company will offer fair market value through its Buyback program whenever you sell.
How to Open an Advantage Gold Account
Advantage Gold makes it easy to open an account. Advantage Gold's sign up process includes support materials and educational materials.
There are two options available for precious metals IRAs. They are Equity Trust and STRATA Trust Company. You can create a gold IRA by visiting Advantage Gold's website. Follow the link to an Adobe Sign page. Fill out the prompting fields and complete the process.
Advantage Gold support can be reached if you prefer to talk with someone when applying for an Advantage Gold IRA. You can have your IRA managed by a custodian who will guide you through the entire process.
You can fund your IRA by transferring, contributing or rolling over funds from another retirement account after you have opened it. You can transfer funds or rollover to your account to add cash that you can use for standard bullion coins, bars or other precious metals.
Advantage Gold Products
Advantage Gold has a variety of American, Australian and Mexican precious metals.
Advantage Gold can store precious metals in safe vault locations that are insured and secure for you. This eliminates the risk of having to transport and store precious metals. These are the kinds of precious metal products that you can buy through Advantage Gold:
Gold IRA-approved Coins
Advantage Gold has 12 different physical gold coins that you can choose from. You can use each coin to contribute to your IRA in a variety of weights. These are the items available:
- Canadian Woodland Caribou in Gold
- Gold Canadian Great-Horned Owl
- Gold American Eagle
- American Buffalo
- Gold Canadian Maple Leaf
- Gold Canadian Wolverine
- Gold Canadian Wild Horse
- Gold Canadian Polar Bear and Cub
- Gold Canadian Bighorn Sheep
- Gold Austrian Philharmonic
- Gold American Eagle Proofs
- American Buffalo Proofs
Silver IRA-approved Coins
Advantage Gold offers nine different IRA approved silver coins in varying weights if you are interested in silver IRAs.
- Silver Canadian Great-Horned Owl
- Silver Canadian Wild Horse
- Silver Canadian Woodland Caribou
- Silver Canadian Wolverine
- Silver Canadian Maple Leaf
- Silver Canadian Bighorn Sheep
- Silver Canadian Polar Bear and Cub
- Silver Austrian Philharmonic
- Silver American Eagle Proofs
- Silver American Eagle
- Mexican Libertad
Platinum IRA-approved Coins
While gold and silver bars are the most common precious metal IRA options available, there are also some other options that offer benefits. You have six options for platinum IRA-approved coins if you choose Advantage Gold. These include the following:
- Platinum American Eagle
- Platinum American Eagle Proofs
- Platinum Australian Leopard Seal
- Platinum Australian Humpback Whale
- Platinum Australian Emperor Penguin
- Platinum Canadian Maple Leaf
Palladium IRA-approved Coins
Palladium coins may be a good option for you if you don't want to invest in precious metals like gold, silver or platinum. Advantage Gold has the Palladium Canadian Maple Leaf that can be used to make approved contributions to IRAs.
Advantage Gold offers services
It is difficult to learn about the stock market, precious metal IRA rollovers, and paper assets. Advantage Gold strives to provide the resources and education necessary for clients to make informed and intelligent investment decisions.
To make it easier for clients, the company offers a variety of services such as the Buyback Program.
Education and Training
Beginners interested in gold IRAs should be aware that converting an existing IRA to a precious metals account requires careful research.
Advantage Gold offers a free first-time investor program. It includes a free guide for gold IRAs. This guide will teach you the intricacies of gold IRA rollovers, investing in precious metals IRAs and purchasing premium coins. Understanding how federal income taxes and deductions differ based on retirement account types will help you choose the best self-directed IRA to meet your financial goals.
Advantage Gold professionals have extensive training and decades of experience as account executives. They can help you make informed choices. Before you dive in, your representative will give you the pros and cons of each investment option.
The Buyback Program is one of the most notable Advantage Gold offers we found. You might be wondering how your retirement funds will look after you have opened a gold IRA or purchased precious metals.
You can withdraw precious metals from your possession and then sell them as you wish. Advantage Gold's Buyback program makes selling quick, easy, and profitable.
Advantage Gold will give you the fair market price for your precious metals when you are ready to sell. Sometimes, Advantage Gold may offer higher offers for high-demand coins.
Precious Metals Storage
You cannot store precious metals in your home for IRAs. Any IRA investments must be stored in approved IRS storage facilities
Two separate providers provide IRS-approved storage for the company. Brinks Global Services and Delaware Depository provide state-of the-art vaulting services that include top-notch security, insurance and storage options. There are two types of vaults: segregated or non-segregated. Prices range from $100 up to $150 per annum.
Precious Metals Delivery
Advantage Gold offers bullion direct sales. This is not an IRA option. To add coins to your collection or portfolio, you can buy them. The company will send the products free, with insurance included and expedient delivery.
Your package should arrive within 2 to 3 business days. These perks may require you to meet certain criteria.
Advantage Gold IRA
Individual retirement accounts (IRAs), are investment accounts that provide tax incentives and secure your money until you retire. You can fund IRAs using fiat money, silver, gold, or any other assets.
Advantage Gold's gold IRA team will walk you through every step so you know exactly how your investment will work. For all your support requirements, you can use either Equity Trust Company or STRATA Trust Company as self-directed IRA custodians.
There are many types of retirement accounts, each with its own advantages and tax deduction requirements. Most retirement plans can be converted to a gold IRA by Advantage Gold's rolling process. This includes Traditional, Roth, Simple IRAs, SEP, Simple IRAs, 401(k), 403(b) and Tax Sheltered Annuity Plans.
How to rollover an existing IRA into an Advantage Gold Precious metals IRA
You will need to rollover an existing IRA if you want to move it to a precious metals IRA. The Advantage Gold IRA Rollover process is very simple as representatives will take care of most of the complicated steps.
These steps will help you convert your funds to a Advantage Gold precious metals IRA.
- Apply to an IRA online: On the Advantage Gold website you will find the form for self-directed IRA applications. Before submitting, make sure you carefully read and fill out all fields. A copy of your most recent retirement account statement will also be required.
- Get an approval. An Advantage Gold representative will review and contact you to discuss your basic options, costs, and expectations.
- Rollover: Your account representative will contact your current investment account company to process the rollover. The company will handle all paperwork and transfers so you don't have to worry.
- You will receive funds in your account after you have completed the transfer. Your representative will setup your account and make sure you understand how it works.
- Buy precious metals Once you have the funds, you can buy precious metals to add to your IRA.
What are Advantage Gold Fees?
For account management and custodial service, most precious metal IRA providers charge fees. The fees charged by the custodian that you choose will vary. Each of these can impact your overall cost.
Direct Investment Expenses
When you first open an account, you will need to pay for direct investment expenses. STRATA Trust Company and Equity Trust Company will charge 50 when you create your account. This fee will not be charged again if you create more accounts.
Portfolio Management Fees
Many custodial service providers also charge an annual fee for account management. STRATA charges $95 annually for account maintenance. The amount of your Equity Trust Company account will determine the annual maintenance fee. However, it usually starts around $225. Talk to a custodial representative for more information about your investment.
You won't be charged a maintenance fee if you transfer $50,000 from an existing retirement fund to a precious metals IRA or gold IRA. If you deposit at least $25,000., you may be eligible for a bonus perk.
Storage fees are also required for precious metals. The operating expenses usually cover insurance and security for your precious metals investments. There are usually two options available when choosing storage.
- Segregated – Segregated storage protects precious metals from investors and ensures top-tier security. Segregated storage costs $150/year with Equity and STRATA.
- Non-segregated – Your investment will be in the same vault as other investors' precious metals. Non-segregated storage costs 100 USD per year with Equity and STRATA.
Advantage Gold does not provide any fee information. The costs of investing can vary greatly from one investor to the next. Apart from the fees listed above, there may be additional charges depending on whether you have an existing account and what you want to purchase.
The fees will be disclosed to you when you open your account and meet your representative. Your representative will need to understand your investment goals so they can provide pricing transparency. Advantage Gold has the lowest fees and costs among all precious metal IRA providers, according to many customer reviews.
Is there a minimum investment?
Advantage Gold doesn't have a minimum investment requirement. This makes it an attractive choice for both first-timers and seasoned investors. Because of the high fees associated with IRAs, many recommend that you start your IRA with at minimum $5,000. Talk to your financial advisor to discuss a reasonable initial investment as well as future contributions based on your current income, debts and retirement goals.
Advantage Gold may have a minimum rollover investment for funds transferred from an existing account. The minimum rollover investment may be as high at $25,000. We recommend talking to a representative before you start any transfers.
Can Advantage Gold Customer Support be trusted?
Advantage Gold offers a great customer service team with responsive response times and expert help. They have years of training and experience, so they can help with any questions or problems. Customer reviews are positive and often praise the customer service experience.
Contact Advantage Gold for more information about pricing or to get in touch with support.
- Phone: (800) 341-8584
- Email: firstname.lastname@example.org
- Address: 12100 Wilshire Blvd. Suite #1450 Los Angeles, CA 90025
- Support hours Monday through Friday, 6 a.m. – 6 p.m.
- Website: www.advantagegold.com
Complaints about Advantage Gold
During this review of Advantage Gold, we found only one customer complaint from the BBB website that was three years old. The company quickly addressed the issue. Although we were unable to find the details of the complaint, we do know that it was about billing and collections. This small mark is a sign that clients are satisfied with their investment decision.
You can ensure your retirement by investing in your future with precious metallics. It can be overwhelming to choose the right investment option with so many options.
Advantage Gold offers many benefits for both novice and experienced investors. These include excellent customer ratings and reliable service channels, educational materials and rollover procedures, low fees and easy-to-use rollovers.
You might also enjoy our Advantage Gold reviews. Learn About Gold is here to help you choose the right investment provider for you. A guided gold quiz can help you match the right investment company to your needs.
Contact our team if you have any questions about investment opportunities with different providers.
Frequently Asked Questions
What is a Precious Metal IRA (IRA)?
An IRA with precious metals allows you to diversify retirement savings into gold and silver, palladium, rhodiums, iridiums, osmium, or other rare metals. These precious metals are extremely rare and valuable. They are great investments for your money, and they can protect you from inflation or economic instability.
Bullion is often used to refer to precious metals. Bullion refers only to the actual metal.
You can buy bullion through various channels, including online retailers, large coin dealers, and some grocery stores.
A precious metal IRA lets you invest in bullion direct, instead of purchasing stock. This allows you to receive dividends every year.
Unlike regular IRAs, precious metal IRAs don't require paperwork or annual fees. You pay only a small percentage of your gains tax. Plus, you get free access to your funds whenever you want.
Can the government take your gold
You own your gold and therefore the government cannot seize it. You have earned it by working hard for it. It belongs to you. But, this rule is not universal. You can lose your gold if you have been convicted for fraud against the federal governments. If you owe taxes, your precious metals could be taken away. However, even though your taxes have not been paid, you can still keep your precious metals, even though they are considered the property of United States Government.
How do you withdraw from an IRA that holds precious metals?
First decide if your IRA account allows you to withdraw funds. After that, you need to decide if you want to withdraw funds from an IRA account. Next, make sure you have enough money in order for you pay any fees or penalties.
You should open a taxable brokerage account if you're willing to pay a penalty if you withdraw early. You will also have to account for taxes due on any amount you withdraw if you choose this option.
Next, you need to determine how much money is going to be taken out from your IRA. This calculation depends on several factors, including the age when you withdraw the money, how long you've owned the account, and whether you intend to continue contributing to your retirement plan.
Once you determine the percentage of your total saved money you want to convert into cash, then you need to choose which type IRA you will use. Traditional IRAs allow you to withdraw funds tax-free when you turn 59 1/2 while Roth IRAs charge income taxes upfront but let you access those earnings later without paying additional taxes.
Once the calculations have been completed, it's time to open a brokerage accounts. To encourage customers to open accounts, brokers often offer signup bonuses and promotions. To avoid unnecessary fees, however, try opening an account using a debit card rather than a credit card.
You will need a safe place to store your coins when you are ready to withdraw from your precious metal IRA. Some storage facilities will take bullion bars while others require you only to purchase individual coins. Either way, you'll need to weigh the pros and cons of each before choosing one.
Bullion bars require less space, as they don't contain individual coins. But, each coin must be counted separately. However, you can easily track the value of individual coins by storing them in separate containers.
Some prefer to keep their money in a vault. Others prefer to store their coins in a vault. No matter what method you use, it is important to keep your bullion safe so that you can reap its benefits for many more years.
What is the Performance of Gold as an Investment?
Gold's price fluctuates depending on the supply and demand. It is also affected by interest rates.
Due to their limited supply, gold prices fluctuate. Physical gold is not always in stock.
How much money should I put into my Roth IRA?
Roth IRAs can be used to save taxes on your retirement funds. These accounts are not allowed to be withdrawn before the age of 59 1/2. However, if your goal is to withdraw funds before that time, there are certain rules you must observe. First, your principal (the deposit amount originally made) is not transferable. This means that no matter how much you contribute, you can never take out more than what was initially contributed to this account. If you are able to take out more that what you have initially contributed, you must pay taxes.
The second rule is that your earnings cannot be withheld without income tax. You will pay income taxes when you withdraw your earnings. Let's take, for example, $5,000 in annual Roth IRA contributions. Let's further assume you earn $10,000 annually after contributing. On the earnings, you would be responsible for $3,500 federal income taxes. This leaves you with $6,500 remaining. Because you can only withdraw what you have initially contributed, this is all you can take out.
You would still owe tax on $1,500 if you took out $4,000 of your earnings. You'd also lose half the earnings that you took out, as they would be subject to a second 50% tax (half of 40%). So even though your Roth IRA ended up having $7,000, you only got $4,000.
There are two types if Roth IRAs: Roth and Traditional. A traditional IRA allows for you to deduct pretax contributions of your taxable income. When you retire, you can use your traditional IRA to withdraw your contribution balance plus interest. There are no restrictions on the amount you can withdraw from a Traditional IRA.
Roth IRAs won't let you deduct your contributions. Once you are retired, however, you may withdraw all of your contributions plus accrued interest. There is no minimum withdrawal requirement, unlike traditional IRAs. You don't have to wait until you turn 70 1/2 years old before withdrawing your contribution.
What precious metals can you invest in for retirement?
It is gold and silver that are the best precious metal investment. They are both simple to purchase and sell, and they have been around for a long time. Consider adding them to the list if you're looking to diversify and expand your portfolio.
Gold: Gold is one of man's oldest forms of currency. It's also very safe and stable. It is a good way for wealth preservation during uncertain times.
Silver: Investors have always loved silver. It's a great option for those who want stability. Silver tends instead to go up than down, which is unlike gold.
Platinum: This precious metal is also becoming more popular. Like gold and silver, it's very durable and resistant to corrosion. However, it's much more expensive than either of its counterparts.
Rhodium. Rhodium is used as a catalyst. It is also used in jewelry-making. It's also relatively inexpensive compared to other precious metals.
Palladium – Palladium is an alternative to platinum that's more common but less scarce. It's also much more affordable. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
What are the benefits of a gold IRA
Many benefits come with a gold IRA. It's an investment vehicle that allows you to diversify your portfolio. You can control how much money is deposited into each account as well as when it's withdrawn.
You also have the option to transfer funds from other retirement plans into a IRA. This allows you to easily transition if your retirement is early.
The best thing is that investing in gold IRAs doesn't require any special skills. They are readily available at most banks and brokerages. Withdrawals can be made instantly without the need to pay fees or penalties.
But there are downsides. Gold has always been volatile. It is important to understand why you are investing in gold. Are you looking for growth or safety? Are you looking for growth or insurance? Only after you have this information will you make an informed decision.
If you are planning to keep your Gold IRA indefinitely you will want to purchase more than one ounce. You won't need to buy more than one ounce of gold to cover all your needs. Depending on your plans for using your gold, you may need multiple ounces.
You don't have to buy a lot of gold if your goal is to sell it. Even a single ounce can suffice. You won't be capable of buying anything else with these funds.
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Saddam Hussein’s InvasionHelped Uncage a Bear In 1989 – WSJ
- Do you want to keep your IRA gold at home? It's not legal – WSJ
How to keep physical gold in an IRA
The best way to invest in Gold is by purchasing shares of companies that produce it. However, there are risks associated with this strategy. It isn't always possible for these companies to survive. If they survive, there's still the risk of losing money due to fluctuations in the price of gold.
An alternative option would be to buy physical gold itself. You'll need to open a bank account, buy gold online from a trusted seller, or open an online bullion trading account. This option is convenient because you can access your gold when it's low and doesn't require you to deal with stock brokers. It's easier to track how much gold is in your possession. You'll get a receipt showing exactly what you paid, so you'll know if any taxes were missed. There's also less chance of theft than investing in stocks.
However, there are disadvantages. Bank interest rates and investment funds won't help you. You can't diversify your holdings, and you are stuck with the items you have bought. Finally, the taxman may ask you about where you have put your gold.
If you'd like to learn more about buying gold in an IRA, visit the website of BullionVault.com today!
By: Learn About Gold
Title: Advantage Gold Gold IRA Review
Sourced From: learnaboutgold.com/review/advantage-gold-gold-ira-review/?utm_source=rss&utm_medium=rss&utm_campaign=advantage-gold-gold-ira-review
Published Date: Wed, 16 Nov 2022 19:55:20 +0000