Keeping your retirement portfolio diversified can help you avoid violent swings in the stock market. Utilizing a gold IRA may be a choice you’d like to make if you’re only holding funds in a 401(k) that doesn’t allow you to invest in physical precious metals. Taking the steps required to implement a gold 401k rollover is relatively easy to complete once you’ve opened your gold IRA account.
Benefits of Implementing a Gold 401k Rollover
If you’re interested in utilizing a retirement option that reduces the stock market’s volatility, it can be beneficial to implement a gold 401k rollover. Several 401(k) plans don’t allow investments in physical precious metals. Using a gold IRA plan does, which may make this investment vehicle an attractive addition to your portfolio as its value often moves higher when the stock market is taking a hit. Owning physical precious metals may help you reduce volatility and even rise in value over the long-term.
Following a Few Simple Steps to Complete a Rollover
After opening a gold IRA account, you can begin the rollover process. There are two options to complete this transfer. An indirect rollover involves withdrawing the funds from your 401(k) and then depositing them in your gold IRA account. Using a direct IRA rollover is usually more straightforward and less risky as your funds are moved directly from one account to another. Once your new IRA is funded, you can start purchasing physical precious metals, such as gold, silver and platinum, to add to the account.