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 choose the right IRA partner for you 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. Advantage Gold offers a fully-staffed IRA department that provides clients with one-on-one support and advice.
Advantage Gold is a partner with Equity Trust Company and STRATA Trust Company to be its precious metals IRA custodians. For vaulting and insurance of your investments, the company has partnered 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 a U.S. Mint-listed dealer and a member of the American Numismatic Association.
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.
Advantage Gold can help you protect your investments
Advantage Gold has partnerships with storage facilities that can insure and secure your investment in the event of damage to precious metals. You must either purchase insurance for premium coins that you store at home or take on the risk of losing them.
You will not get appreciation guarantees if you invest in precious metals through any investment company. Advantage Gold can't guarantee your retirement 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 offers support and educational materials throughout the sign-up process.
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, and/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 IRS-approved coins, including Royal Canadian Mint coins and American, Australian and Mexican precious metals. You can use these coins to contribute to an IRA.
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 make IRA contributions. They come in different 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.
- 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 metals that offer benefits. Advantage Gold allows you to choose from six platinum IRA-approved coins.
- 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 first-time investor program that includes a free guide for 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 decades of experience as account executives and extensive training. They can help you make informed choices. Before you dive in, your representative will discuss the pros and cons of each investment option.
Buyback Program
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 it easy, quick, and worth the effort.
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 for IRAs at home. For any IRA investments, you must use IRS-approved storage facilities.
Two separate providers provide IRS-approved storage for the company. Brinks Global Services, Delaware Depository, offer vaulting services that are state-of the-art with insurance and top-quality security. Prices range from $100 to $150 annually for segregated or non-segregated vaults.
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 ship your products free of charge with insurance and expedited delivery if you choose to do this.
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 (cash), silver, gold, or any other assets and precious metals.
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 transfer it to a precious metals IRA. The Advantage Gold IRA rollover process can be quite 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 online for an IRA: 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.
- Approve your application: An Advantage Gold representative will examine your viability and reach out to you to discuss your expectations, fees and basic options.
- The rollover will be processed by your account representative. Your current investment account company will contact your account representative to process the rollover. The company will handle all paperwork and transfers so you don't have to.
- You will be able to receive funds into 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: You can buy precious metals once you have the funds.
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 or Equity Trust Company will charge $50 to 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 a $95. annual maintenance fee for account management. The Annual Maintenance Fee for Equity Trust Company varies depending on how much you have in your account. However, it usually starts at $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.
Operating expenses
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 Storage: For top-tier security, segregated storage protects your precious metals from investors. With Equity and STRATA, segregated storage is $150/year.
- Non-segregated: Your investment will be in the same vault as other investors' precious metals. Storage that is not segregated costs $100 per annum with Equity and STRATA.
Hidden Costs
Advantage Gold does not provide any fee information. The costs of investors can vary and Advantage Gold is not able to disclose this information. Apart from the fees listed above, there may be additional charges depending on whether you have an existing account or what you want to buy.
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-time investors and seasoned investors. Because of the fees associated with IRAs, many recommend that you start your IRA at least $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 require that funds be transferred from an existing account in order to rollover. The minimum rollover investment required by Advantage Gold may be as high at $25,000 so it is worth speaking to a representative before you begin any transfer.
Can Advantage Gold Customer Support be trusted?
Advantage Gold's customer service team is excellent with fast responses and expert assistance. The seasoned agents have many years of experience and are trained to solve any 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: info@advantagegold.com
- Address: 12100 Wilshire Blvd. Suite #1450 Los Angeles, CA 90025
- Support hours are Monday to 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.
Last Thoughts
You can secure your retirement by investing in your future with precious materials. 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 the interest rate on a gold IRA?
It all depends on how much you invest in it. If you have $100,000 then yes. If your net worth is less than 100,000, no.
The amount of money you put into an IRA determines whether or not it earns interest.
If your annual retirement savings contributions exceed $100,000, you might want to open a brokerage account.
While you will probably earn more interest there as a result, you’ll also be subject to riskier investments. If the stock market crashes you don’t wish to lose your entire investment.
An IRA might be more advantageous if you are able to contribute only $100,000 per year. At least until the market recovers.
What type of IRA are you using to buy precious metals stocks?
Many financial institutions and employers offer an individual retirement account (IRA) as an investment option. An IRA allows you to contribute money that is tax-deferred until it is withdrawn.
An IRA lets you save taxes and pay them off later. This means you can save money and pay taxes later on the money that you have deposited to your retirement account.
An IRA is a great investment because your earnings and contributions are tax-free. You can withdraw funds at any time. You can face penalties if you withdraw funds before the deadline.
You can also make additional contributions to your IRA after age 50 without penalty. If you choose to take withdrawals from your IRA during retirement, you’ll owe income taxes and a 10% federal penalty.
Refunds received before the age of 591/2 are subject to a penalty of 5% from the IRS. A 3.4% IRS penalty is applicable to withdrawals made between the ages of 59 1/2 and 701/2.
There is a 6.2% penalty for withdrawals over $10,000 per calendar year.
Can you make money in a gold IRA
You must first understand the market and then know which products are available to make money.
Trading is not a good idea if you don’t know what you need.
A broker should offer the best service for each account type.
Many different accounts are available, including standard IRAs and Roth IRAs.
A rollover is also an option for those who already own stocks and bonds.
Can I add gold to my IRA?
Yes, it is possible! Gold can be added to your retirement plan. Gold is a great investment as it doesn’t lose money over time. It also protects you against inflation. And you don’t have to pay taxes on it either.
You need to understand that gold is not like other investments before you invest in it. Unlike stocks or bonds, you can’t buy shares of gold companies. These shares can also be not sold.
Instead, convert your precious metals to cash. This means that it will be necessary to dispose of the gold. You can’t just hold onto it.
This makes gold different from other investments. You can always sell other investments later. With gold, this isn’t true.
Worse, the gold cannot be used as collateral for loans. For example, if you take out a mortgage, you may give up some of your gold to cover the loan.
What does this all mean? Your gold can’t be kept forever. You will have to sell it at some point.
But there’s no reason to worry about that now. All you need to do is create an IRA. Then you can invest your money in gold.
How does an IRA with gold or silver work?
An IRA that is gold or silver allows you the opportunity to invest in precious metals without paying tax on any gains. They are a good investment option for those who wish to diversify their portfolios.
If you are over 59 1/2, income tax is not due on the interest earned from these accounts. You also do not have to pay capital gains tax on any appreciation in the account’s value. This account has a limit on how much you can put in. The minimum amount permitted is $10,000 If you are less than 59 1/2, you cannot invest. Maximum annual contribution: $5,500
If you die prior to retirement, your beneficiaries may not receive the full amount. Your estate must include enough assets to cover the balance remaining in your account after all other expenses and debts have been paid.
Some banks offer IRA options in gold and silver, while some require you to open a regular brokerage accounts through which you can purchase shares or certificates.
Which is stronger, 14k or sterling gold?
Gold and silver are strong metals, but sterling silver is much less expensive because it contains 92% pure silver rather than just 24%.
Sterling silver is also called fine silver. It is made from a combination silver and other metals, such as zinc and copper.
Gold is usually considered to be extremely strong. It is very difficult to separate it from its metal counterpart. If you dropped an object onto a piece or gold, it would break into thousands instead of two halves.
But silver isn’t nearly as sturdy as gold. If you dropped an item onto silver sheets, it would likely fold and bend without cracking.
Silver is often used to make jewelry and coins. Therefore, its value tends to fluctuate based on supply and demand.
Statistics
- The IRS also allows American Eagle coins, even though they do not meet gold’s 99.5% purity standard. (forbes.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal so that you would owe income tax on the item’s value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
- Silver must be 99.9% pure • (forbes.com)
External Links
investopedia.com
wsj.com
kitco.com
regalassets.com
How To
How to Decide if a Gold IRA ‘Is Right For You’
Individual Retirement Account (IRA) is the most popular type. IRAs can also be purchased through banks, mutual funds, financial planners, and other institutions. The IRS allows individuals up to $5,000 in annual contributions without tax consequences. This amount is available to all IRAs, regardless of age. There are limits to how much money you may put into certain IRAs. For example, you cannot contribute to a Roth IRA unless you’re at least 59 1/2 years old. Contributions must be made by those under 50 years old. Individuals who work for their employer could be eligible for matching employer contributions.
There are two main types of IRAs: Traditional and Roth. Traditional IRAs allow you to invest in stocks, bonds and other investments. A Roth IRA allows you to only invest in after-tax dollars. Roth IRA contributions can be made without tax, but they will still be subject to taxes if you withdraw from it. Some people prefer to combine these two accounts. Each type of IRA has its pros and cons. What should you look at before deciding which type is best for you? Below are three important things to keep your mind on:
Traditional IRA Pros
- Contribution options vary by company
- Employer match possible
- You can save up to $5,000 per person
- Tax-deferred Growth until Withdrawal
- Income level may be a factor in some restrictions
- Maximum contribution limit: $5,500 per annum (or $6,500 for married filing jointly).
- The minimum investment is 1000
- After the age of 70 1/2, mandatory distributions must be taken.
- For an IRA to be opened, you must have at least five-years-old
- Transfer assets between IRAs cannot be done
Roth IRA pros:
- Contributions are free of taxes
- Earnings can grow tax-free
- There are no minimum distribution requirements
- Only stocks, bonds, mutual funds are available as investment options.
- There is no maximum contribution limit
- There are no limitations on the ability to transfer assets between IRAs
- An IRA can only be opened by those 55 and older
When opening a new IRA it’s important to realize that not all companies offer identical IRAs. Some companies allow you to choose between a Roth IRA or a traditional IRA. Others allow you to combine them. There are different requirements for different types. Roth IRAs don’t have a minimum capital requirement. Traditional IRAs only require a $1,000 minimum investment.
The bottom line
The most important factor when choosing an IRA is whether you plan to pay taxes immediately or later. If you plan to retire in the next ten years, a traditional IRA might be the best choice. Otherwise, a Roth IRA could be a better fit for you. In either case, it’s a smart idea to speak with a professional about your retirement plans. A professional can help you determine the best option for your situation and keep track of what’s going on in the market.
—————————————————————————————————————————————————————————————-
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
