PDA

View Full Version : What to do with an IRA?



AgGregator
03-26-2011, 08:11 PM
While reading the iBanker thread I saw that Moonstruck wrote:
"I am divesified!

Gold, Silver, Copper, Nickel, Zinc, Lead. Debt free Home, Car, Gun, Food, Water, Firewood, Propane, ect.

I allso have an IRA to gamble in the markets with."

I find myself in the same situation, having faithfully funding my IRA year after year before I woke up and now am truly worried about the state of the house of cards it's become.
My question to the fine members of this forum is, Is there any way of getting out of a stocks based IRA and into physical metals without incurring all the penaltys, fee's ,Taxes, Ect.
Thanks in advance for your incite.

jbsilver
03-26-2011, 08:15 PM
While reading the iBanker thread I saw that Moonstruck wrote:
"I am divesified!

Gold, Silver, Copper, Nickel, Zinc, Lead. Debt free Home, Car, Gun, Food, Water, Firewood, Propane, ect.

I allso have an IRA to gamble in the markets with."

I find myself in the same situation, having faithfully funding my IRA year after year before I woke up and now am truly worried about the state of the house of cards it's become.
My question to the fine members of this forum is, Is there any way of getting out of a stocks based IRA and into physical metals without incurring all the penaltys, fee's ,Taxes, Ect.
Thanks in advance for your incite.

Yes. You can rollover to PM IRA.

sltintexas
03-26-2011, 08:17 PM
I don't know much about it but there are many places that do IRAs that you can have physical PM holdings.


http://www.gainesvillecoins.com/ira.aspx as an example..again, i know nothing about them.

fledgling
03-26-2011, 08:18 PM
You might look at self directed IRAS where you have checkbook control and can hold land, foreig holdings, and some say metals. I set one up and havent bought any metals but feel I could do so very quickly if it looked like the ship was going down. I mostly want to be nimble. It took Vanguard TWO MONTHS to tranfer my funds BTW

govikesgo
03-26-2011, 08:20 PM
Just make allocation changes into PM. Penalties? Usually not if you've held your current positions for at least 30 days. Need to check with your plan. You can not only add paper silver to your portfolio, but physical silver and gold as well.

GottaHaveIt
03-26-2011, 08:36 PM
Transfer some or all of your IRA funds to an IRA trustee company that allows you to hold precious metals.

There is a list of trustee companies on the Kitco site here:

http://www.kitco.com/IRA_RSP/ira.html?utm_source=www.kitco.com&utm_medium=slpash_ira_button&utm_content=301210_ira_splash_button&utm_campaign=ira_promotion

I just set up a precious metals IRA account with these guys:

http://newdirectionira.com/

They are part of the Entrust Group, which is one of the trust companies on the Kitco list.

Make sure you choose an IRA trust company that allows you to buy your silver (and other metals) from any dealer you choose and allows you to pick the depository where you store your metals. That way you don't get stuck paying too much when you buy and/or store your silver.

AgGregator
03-26-2011, 08:38 PM
Just make allocation changes into PM. Penalties? Usually not if you've held your current positions for at least 30 days. Need to check with your plan. You can not only add paper silver to your portfolio, but physical silver and gold as well.

That is what I'd like to do, get out of paper and into physical, But is it possible to acually "hold" the metal, or would it have to be stored under certain regulation?

Akfisherman
03-26-2011, 08:38 PM
You can not take physical delivery of an asset held in an IRA. IRA's that deal in PM's are dealt with by an licensed IRA custodian, and held in a 3rd party vault.
You can roll over your IRA into a PM account very easy, but it will cost you.
Self directing an IRA isn't a cake walk, and you pay your IRA custodian a crap-ton to deal with everything on your behalf, so it doesn't make sense unless you buy a condo unit or something that makes a lot of money on your investment.

If you just want PM's, a self directed IRA isn't your best bet.

This is also something to consider. Corporate Bonds. I know you can't hold it in your hands, but corporate bonds have been doing pretty well, and if anyone is going to come through this whole 2012 thing, it's the corporations. GM has been KILLING it lately! Did you see that in 2010, the US government OWES GM 3.2 billion or something in tax refunds! GM made 5.5 billion dollars in the USA last year (1/3 of it's total profits) and the government OWES them money!!! These Corporations will have a plan for their money when the SHTF! Corporations went from contributing 55% to the federal revenue in 1950, to just 6.6% in 2009, now THAT's Gangsta!

Gold Standard
03-26-2011, 09:02 PM
I buy and sell the SLV ETF with my IRA funds. Buying during dips and selling when silver spikes has worked well for me. Buying back in during corrections allowed me to profit nicely when silver rallied and corrected between $16 and $20.

Moonstruck
03-26-2011, 09:12 PM
I use CEF in my IRA for a 50% gold / 50% silver. Metal in the vault ETF. Being a non-USA fund is fine, in an IRA. Allso the premimun is not overblown like some of the other metal funds.

I looked into self directed and metal trusts. The costs are to high for my taste. Unless you have at lest $50,000 to roll into one.

Silver Cobra
03-26-2011, 10:25 PM
If you want to stay in a IRA just roll it over into a Scottrade account that you control. Buy SIVR, SGOL, GDXJ,GDX,DBA and URA is a great buy now and FCG. Just my opinion yours may vary.

galtbob
03-27-2011, 05:52 AM
One more thought. As previously noted, it can take a long time to move your IRA. IF you can, I suggest moving it is parts. When you are still a client of your old firm, you have a better chance of them treating you nice. It may be as easy as writing a check. Once you sign that "transfer in full" form, you can easily find yourself stuck in no-mans land while you wait for the funds to show up at your new custodian. And I woudl suggest you try to find a company that lets you do as many things as possible. There may come a time when you want to put some of the money into a different investment, and changing agents is big PITA.

Obediah
03-27-2011, 08:15 AM
I'd bail out of it lick my wounds and go on. Time is short the gov is gonna take them from you- they are already discussing the possibilities.

ouchtouch
03-27-2011, 08:15 AM
I think prices have come down for administrative fees on self-directed PM IRA's. I looked into it recently and it seems attractive if you have enough money to transfer. Look at your favorite metal dealers' web sites for examples of administrators they like to deal with. I also picked newdirection based on the fact that Hannes T. does business with them. It only took a few days for TDAmeritrade to transfer funds.

theplantguy
03-27-2011, 10:21 AM
This may go against what most folk here think, but I have found stocks to be far more profitable than PMs. I held INTC in my IRA for 12 years and it went up 1500%. That is not a typo. My latestest hold in my IRA has gone up almost 400% in 6 months or so. Just something to consider.

AgGregator
03-27-2011, 09:13 PM
This may go against what most folk here think, but I have found stocks to be far more profitable than PMs. I held INTC in my IRA for 12 years and it went up 1500%. That is not a typo. My latestest hold in my IRA has gone up almost 400% in 6 months or so. Just something to consider.

Oh, I agree, and have no complaints really about how its performed over the years, just was wondering if there was a way I could actually hold physically with some portion of it.
I'd like to do that as a hedge, so to speak, against rapid inflation of the US dollar.
Plantguy, I get the idea (from other posts of yours) that you don't think that's really a worry (perhaps because, what else is there?) and would enjoy hearing your thoughts on that. (forgive me if I read you wrong)

theplantguy
03-27-2011, 09:26 PM
Oh, I agree, and have no complaints really about how its performed over the years, just was wondering if there was a way I could actually hold physically with some portion of it.
I'd like to do that as a hedge, so to speak, against rapid inflation of the US dollar.
Plantguy, I get the idea (from other posts of yours) that you don't think that's really a worry (perhaps because, what else is there?) and would enjoy hearing your thoughts on that. (forgive me if I read you wrong)

Right now I don't see inflation being an issue. I have had an IRA for 20 years and usually keep one stock at a time in it. I have made from 50% to 500% a year every year so inflation of 10% isn't a concern. I see no advantage to hold physical silver in a tax advantage vehicle.

AgGregator
03-28-2011, 09:29 AM
Right now I don't see inflation being an issue. I have had an IRA for 20 years and usually keep one stock at a time in it. I have made from 50% to 500% a year every year so inflation of 10% isn't a concern. I see no advantage to hold physical silver in a tax advantage vehicle.

So with the Fed. printing Notes as fast as it can (QE3?) you dont see more than 10% inflation in the future? I'm not just talking about CPI numbers, but everyday stuffs, food, energy, ect. I'm more worried about 100% - 1000%.

theplantguy
03-28-2011, 09:38 AM
So with the Fed. printing Notes as fast as it can (QE3?) you dont see more than 10% inflation in the future? I'm not just talking about CPI numbers, but everyday stuffs, food, energy, ect. I'm more worried about 100% - 1000%.

I'm taking about right now at 10%............but even at 20%, if you're making substantially more than that, you are way ahead of the game.

ouchtouch
03-28-2011, 06:04 PM
So with the Fed. printing Notes as fast as it can (QE3?) you dont see more than 10% inflation in the future? I'm not just talking about CPI numbers, but everyday stuffs, food, energy, ect. I'm more worried about 100% - 1000%.

Problem is, we are in a credit money system, and credit can collapse faster than the fed can create FRN's, many people think. You can have deflation and money-printing at the same time.

HeavyMeddle
03-29-2011, 10:52 AM
This may go against what most folk here think, but I have found stocks to be far more profitable than PMs. I held INTC in my IRA for 12 years and it went up 1500%. That is not a typo. My latestest hold in my IRA has gone up almost 400% in 6 months or so. Just something to consider.

what has worked in the past will likely not work moving forward.

rocks will weather the fire, paper will burn.

theplantguy
03-29-2011, 10:57 AM
what has worked in the past will likely not work moving forward.

rocks will weather the fire, paper will burn.

Can you explain?