Daily Money - How to invest in gold

What is a Gold IRA?

It’s like a regular IRA but with a twist: you invest in physical gold, silver, or other precious metals. This is a great way to diversify your retirement savings and hedge against inflation.

Setting up your Gold IRA

• Find a provider that offers competitive fees and safe storage.
• Pick the precious metals that align with your investment goals.
• Fund your account by making a rollover from a retirement savings account, transferring money from a bank account, or making a cash deposit.
  

Select a custodian

The custodian actually holds and manages the physical gold, and some Gold IRA companies let you choose your own custodian or go with their preferred provider. These custodians need to be compliant with IRS regulations.

By understanding these important points, you can jump on the gold bandwagon and incorporate a Gold IRA into your retirement strategy.