A Gold IRA is a self-directed retirement account that enables investors to include physical precious metals in their long-term savings. Unlike traditional IRAs, which typically contain stocks, bonds, or mutual funds, a Gold IRA can include gold, silver, platinum, and palladium that meet IRS purity standards. This setup gives investors an additional method of diversifying their retirement portfolios beyond traditional paper investments.
Gold IRAs operate under the same tax rules as standard retirement accounts. What Is a Gold IRA and How Does It Work? . Individuals can open a traditional Gold IRA for tax-deferred growth or a Roth Gold IRA for tax-free distributions in retirement. The primary distinction is the type of assets held rather than how the account is taxed.
Opening a Gold IRA involves partnering with an IRS-approved self-directed IRA custodian. The custodian handles account administration, recordkeeping, and compliance with IRS regulations. Investors purchase IRS-approved metals through a metals dealer, with assets stored in an approved depository offering security and insurance.
Since personal possession is not permitted, precious metals must be held in an IRS-approved storage facility until distribution. These rules are designed to ensure proper oversight, safety, and compliance. Gold IRAs appeal to investors focused on inflation protection, diversification, and long-term financial stability.