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 identify the best IRA partner to meet your 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. Clients receive personalized advice from Advantage Gold's management team, along with step-by-step support.
Advantage Gold is a partner with STRATA Trust Company and Equity Trust Company to serve as its precious-metals IRA custodians. For vaulting and insurance of your investments, the company partners 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 an American Numismatic Association member, and a U.S. Mint-listed dealer.
Advantage Gold has a strong reputation, many company partnerships with industry-leading companies, and responsive support channels so you can feel confident about investing. An Advantage Gold representative can help with any questions or concerns.
Are your investments protected with Advantage Gold?
Advantage Gold has partnerships with storage facilities that will protect and insure your investments should anything happen to precious metals while they are stored in the facility. You must either purchase insurance for the premium coins or take on the risk if you store them at home.
You will not get appreciation guarantees if you invest in precious metals through any investment company. Advantage Gold can't guarantee your retirement funds, 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's sign up process includes support materials and educational materials.
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 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 American, Australian and Mexican precious metals.
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 contribute to your IRA in a variety of 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 if you are interested in silver IRAs.
- 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. You have six options for platinum IRA-approved coins if you choose Advantage Gold. These include the following:
- 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 IRAs. This guide will teach you the intricacies of 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 extensive training and years of experience as account executives. They can help you make informed choices. Before you dive in, your representative will give you 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 selling quick, easy, and profitable.
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. Any IRA investments must be stored in approved IRS storage facilities
Two separate providers provide IRS-approved storage for the company. Brinks Global Services and Delaware Depository provide state-of the-art vaulting services that include top-quality security measures, insurance and storage options. There are two types of vaults: segregated or non-segregated. Prices range from $100 up to $150 per annum.
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 send the products free, with insurance included and expedient delivery.
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, silver, gold, or any other assets.
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 IRA, SEP and Simple IRA.
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 move it to a precious metals IRA. The Advantage Gold IRA Rollover process is very 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 to an IRA online: 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.
- Get an approval. An Advantage Gold representative will review and contact you to discuss your basic options, costs, and expectations.
- Rollover: Your account representative will contact your current investment account company to process the rollover. The company will handle all paperwork and transfers so you don't have to worry.
- You will receive funds in 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 Once you have the funds, you can buy precious metals to add to your IRA.
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 and Equity Trust Company will charge 50 when you 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 $95 annually for account maintenance. The amount of your Equity Trust Company account will determine the annual maintenance fee. However, it usually starts around $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. Your precious metals investment will include insurance and security. Operating expenses usually cover these costs. There are usually two options available when choosing storage.
- Segregated – Segregated storage protects precious metals from investors and ensures top-tier security. Segregated storage costs $150/year with Equity and STRATA.
- Non-segregated – Your investment will be in the same vault as other investors' precious metals. Non-segregated storage costs 100 USD per year with Equity and STRATA.
Hidden Costs
Advantage Gold does not provide any fee information. The costs of investing can vary greatly from one investor to the next. Apart from the fees listed above, there may be additional charges depending on whether you have an existing account and what you want to purchase.
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-timers and seasoned investors. Because of the high fees associated with IRAs, many recommend that you start your IRA with at minimum $5,000. Talk to your financial advisor about a reasonable investment and future contribution plan based on your current income, debts and retirement goals.
Advantage Gold may have a minimum rollover investment for funds transferred from an existing account. The minimum rollover investment may be as high at $25,000. We recommend talking to a representative before you start any transfers.
Can Advantage Gold Customer Support be trusted?
Advantage Gold offers a great customer service team with responsive response times and expert help. They have years of training and experience, so they can help with any questions or 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 Monday through 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 ensure your retirement by investing in your future with precious metallics. 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
How much gold should you have in your portfolio?
The amount that you want to invest will dictate how much money it takes. For a small start, $5k to $10k is a good range. You could then rent out desks and office space as your business grows. This way, you don't have to worry about paying rent all at once. Only one month's rent is required.
It is also important to decide what kind of business you want to run. In my case, I am running a website creation company, so we charge clients around $1000-2000/month depending on what they order. You should also consider the expected income from each client when you do this type of thing.
Freelance work is not likely to pay a monthly salary. The project pays freelancers. You might get paid only once every six months.
Before you can determine how much gold you'll need, you must decide what type of income you want.
I suggest starting with $1k-2k gold and building from there.
How much money should my Roth IRA be funded?
Roth IRAs are retirement accounts where you deposit your own money tax-free. These accounts are not allowed to be withdrawn before the age of 59 1/2. You must adhere to certain rules if you are going to withdraw any of your contributions prior. First, you can't touch your principal (the initial amount that was deposited). This means that no matter how much you contribute, you can never take out more than what was initially contributed to this account. If you decide to withdraw more money than what you contributed initially, you will need to pay taxes.
The second rule says that you cannot withdraw your earnings without paying income tax. So, when you withdraw, you'll pay taxes on those earnings. Let's assume that you contribute $5,000 each year to your Roth IRA. Let's further assume you earn $10,000 annually after contributing. You would owe $3,500 in federal income taxes on the earnings. So you would only have $6,500 left. The amount you can withdraw is limited to the original contribution.
The $4,000 you take out of your earnings would be subject to taxes. You'd still owe $1,500 in taxes. You'd also lose half the earnings that you took out, as they would be subject to a second 50% tax (half of 40%). So even though you received $7,000 in Roth IRA contributions, you only received $4,000.
There are two types if Roth IRAs, Roth and Traditional. Traditional IRAs allow for pre-tax deductions from your taxable earnings. Your traditional IRA allows you to withdraw your entire contribution plus any interest. There are no restrictions on the amount you can withdraw from a Traditional IRA.
A Roth IRA doesn't allow you to deduct your contributions. However, once you retire, you can withdraw your entire contribution plus accrued interest. Unlike a traditional IRA, there is no minimum withdrawal requirement. It doesn't matter if you are 70 1/2 or older before you withdraw your contribution.
How is gold taxed within a Roth IRA
A tax assessment for an investment account will be based on the current market value, and not what you paid initially. All gains, even if you have invested $1,000 in a mutual funds stock, are subject to tax.
However, if the money is deposited into a traditional IRA/401(k), the tax on the withdrawal of the money is not applicable. Capital gains and dividends earn you no tax. This applies only to investments made for longer than one-year.
The rules that govern these accounts differ from one state to the next. Maryland is an example of this. You must withdraw your funds within 60 calendar days of turning 59 1/2. Massachusetts allows you to delay withdrawals until April 1. New York offers a waiting period of up to 70 1/2 years. To avoid penalties, you should plan ahead and take distributions as soon as possible.
Statistics
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
External Links
law.cornell.edu
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement funds
finance.yahoo.com
cftc.gov
irs.gov
How To
The best way to buy gold (or silver) online
To buy gold, you must first understand how it works. Gold is a precious metallic similar to Platinum. It's very rare, and it is often used as money for its durability and resistance. It is difficult to use so people prefer to buy jewelry made from it to gold bars.
There are two types of gold coins available today – one type is legal tender, while the other is called bullion. Legal tender coins are those that are intended for circulation in a country. They typically have denominations of $1, $5 or $10.
Bullion coins are only minted to be used for investment purposes. Their value increases over time because of inflation.
They are not exchangeable in any currency exchange system. If a person purchases $100 worth of gold, 100 grams of the gold will be given to him/her. The $100 value is $100. Each dollar spent earns the buyer 1 gram gold.
When looking to buy precious metals, the next thing you should be aware of is where it can be purchased. There are a few options if you wish to buy gold directly from a dealer. First, go to your local coin shop. Another option is to go through a reputable site like eBay. You can also purchase gold through private online sellers.
Individuals who sell gold at wholesale and retail prices are called private sellers. Private sellers will charge you a 10% to 15% commission for every transaction. Private sellers will typically get you less than a coin shop, eBay or other online retailers. This option is often a great choice for investing gold as it allows you more control over its price.
Another way to buy gold is by investing in physical gold. Although physical gold is easier to store than paper certificates you will still need to ensure it is safe. Physical gold should be stored in an impenetrable container, such a vault and safety deposit box to ensure its safety.
If you are looking to purchase gold on your own, you have two options: a bank or an pawnshop. A bank can provide you with a loan to cover the amount you wish to invest in gold. These are small businesses that let customers borrow money against the items they bring to them. Banks tend to charge higher interest rates, while pawnshops are typically lower.
Another way to purchase gold is to ask another person to do it. Selling gold is easy too. It is easy to sell gold by contacting a company like GoldMoney.com. You can create a simple account immediately and begin receiving payments.
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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
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