You may be eligible to add gold & silver to your 401k:

Every person’s investment needs and situation are unique and as such SchiffGold does not present you with a cookie cutter solution. We strongly suggest you visit our Gold & Silver IRA page above for more information including a free guide on transitioning your 401(k) to a precious metals IRA.

The Custodian’s Role in a Gold IRA retirement account – SchiffGold IRA Series: Video 3

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In this video which is a part of the SchiffGold series on gold and IRAs, we’re gonna be talking about custodians. Why you need a custodian because unlike traditional investing if you’re just buying gold and silver you can custody it yourself you can keep your gold in your house and your own private safe. But when you are incorporating gold into your retirement account whether it is your IRA or a 401k you need to have a custodian to hold on to that gold in order to comply with the government accounting rules and IRS rules in order to maintain the eligibility of your IRA and the tax deferral of the income that you’ve now diverted to that IRA that you have used to buy physical gold and silver. So we will get into the custodial aspects and those requirements in this video.

Now you know a lot of people use custodians when they own physical gold and silver even if it’s not in a retirement account simply because they don’t want to store the gold themselves. I mean gold and silver are very valuable and you want to make sure you don’t lose it and a lot of people want to leave it in a reliable storage facility so that custodian right is basically holding on to your metal. I mean even if it’s in a safety deposit box right the custodian I guess is the bank that owns the safety deposit box where you are depositing your gold. And at SchiffGold we help people find custodians all around the world. We arrange storage for our clients who want their metals stored in places like Switzerland or Singapore or Hong Kong or Australia. And I recommend that people not only diversify my owning gold but diversify how they own their gold, where they store their gold you want to spread the gold around.

Now I do believe that one place that you should have some of your gold is here personally I mean you should have some gold in your own physical possession in your own private safe in your house somewhere or even buried in your yard somewhere. Just make sure you don’t forget where you put it or have a map or make sure that somebody knows where that map is in case something happens to you and your family members or wherever you’ve you’ve left your your your gold too that they know where to find it.

You don’t want to lose it but you also need to have gold in your retirement accounts and that is where a custodian is extremely important because in order to have your own physical gold or silver in your self-directed IRA somebody needs to be the custodian. Because you know when the IRS set up these rules for IRA contributions they want to make sure that the money that you are contributing to an IRA is held with a custodian.

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LEARN MORE ABOUT: Precious Metals IRAs

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

REVEALED: Best Investment During Inflation