WEBVTT

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All right, so let's jump into something that

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I think a lot of our listeners are probably curious

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about when it comes to planning for the future,

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and that is precious metals IRAs. You know, we

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hear about them, we know they're a thing, but

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like, who are they actually for? What are the

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benefits? And how do you even go about getting

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started if it's something that you're interested

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in? So to really dig into this topic, we are

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going to be diving deep into an article from

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Doug Young. He is someone who has over 20 years

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of experience in financial investing, commodity

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trading, and specifically, precious metals. So

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we're in good hands, I think. And the article

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is titled, Precious Metals IRA Eligibility. Who

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Qualifies? Okay. So we'll take that as our guide

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for this deep dive and see if we can't really

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get to the bottom of whether this is something

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that folks should be considering as part of their

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long -term financial plans. Awesome. Sounds good.

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So right off the bat, one of the things that

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I think people are often curious about is who

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can actually do this? Is this something that's

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only for the super wealthy? Is it only for people

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of a certain age? What are the eligibility requirements

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here? Yeah. You know, and the article does a

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good job of sort of outlining that. And it's

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actually very inclusive. So when it comes to

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age, there's really no minimum and no maximum

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age limit. Oh, interesting. It's really just

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about having earned income. So whether you're

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18 or 80, as long as you have that earned income,

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whether it's from employment or self -employment,

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you're eligible to open and contribute to a precious

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metals IRA. So you're saying that basically you

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could be you know, fresh out of high school,

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got your first job, and you could start looking

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into this as an option. Absolutely. Or you could

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be, you know, well into retirement and still

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be able to contribute. Yeah. The article even

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uses the example whether you're just starting

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your career or nearing retirement. Wow. Okay.

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As long as you've got that earned income. Okay.

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So that's pretty broad in terms of age. What

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about income level? That's interesting too, because

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there's actually no maximum income limit. Oh,

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OK. So there is a limit in terms of how much

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you can contribute annually, but there's no limit

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on your income level to be able to contribute.

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So even if you're making a significant amount

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of money, this is still an avenue that's open

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to you. Exactly. And the article actually even

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highlights that this can be particularly beneficial

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for high income earners who want to diversify

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their portfolios, which I think is a really important

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point. Yeah. Interesting. Okay. So we've got

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that kind of broad overview of eligibility in

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terms of like age and income level. Maybe just

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to give people a little bit of context, like

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in terms of how much we're talking about, could

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you maybe just touch on the contribution limits

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just so people have a sense of that? Right. So

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for 2025, if you're under 50, the annual contribution

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limit is $7 ,000. Okay. And if you're 50 or older,

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it bumps up to $8 ,000. All right. So we got

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age, we got income, we got contribution limits.

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I think we've got a pretty good handle on who

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can actually participate. Now, the next question

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becomes, well, what can they actually put into

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these accounts? What are the eligible precious

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metals that we're talking about here? Right.

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Yeah. And it's not just any old gold bar or silver

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coin you can put in there. The IRS has pretty

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specific guidelines for the types of precious

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metals that are allowed in these retirement accounts

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just to ensure the quality of the investment.

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Right. Makes sense. So starting with the most

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popular one, gold. the minimum purity requirement

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is 99 .5%. Okay, so pretty pure. Yeah, it's pretty

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pure. Are there any specific examples that the

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article gives us of what kind of gold products

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would qualify? Yeah, so they mention things like

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American Gold Eagle coins, Canadian gold maple

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leaf coins, Austrian gold philharmonic coins,

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and then also gold bars and rounds from refineries

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that are approved by... you know, major exchanges

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like NYMAX or COMEX. So those are the big like

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commodity exchanges. Exactly. So it's got to

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be, you know, investment grade bullion. We're

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not talking about, you know, decorative pieces

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or jewelry or anything like that. So real deal

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stuff. Yeah, real deal bullion. OK, cool. What

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about silver? Is it similar? Yeah, silver is

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similar. The purity requirements actually even

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stricter. It's ninety nine point nine percent.

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Oh, wow. Even higher. Yeah. And again, you've

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got some similar examples like the American silver

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eagle coins, Canadian silver maple leaf coins,

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Austrian silver philharmonic coins, and then

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those silver bars and rounds from approved refiners.

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OK, so basically the same concept, just different

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purity levels. Exactly. Now, I know gold and

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silver are kind of the big ones that people think

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about when it comes to precious metals. Are there

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any others that are eligible for these IRAs?

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Yeah, you know, the article mentions a couple

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more in the FAQ section. Okay. So platinum and

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palladium are also eligible and those both have

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a minimum purity requirement of 99 .95%. Okay.

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So you got a little quartet of precious metals

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to work with there. Exactly. Okay. So we know

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who can invest. We know what they can invest

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in. We have the big question. Why? You know,

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what are the actual benefits here that might

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lead someone to say, okay, this is something

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I want to consider. Yeah. So the article highlights

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a couple of key advantages and one that really

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stands out is that precious metals can provide

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stability especially during times of like Economic

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uncertainty, you know when traditional investments

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like stocks, you know take a downturn Yeah, precious

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metals often tend to hold their value or even

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increase in value kind of like a safe haven,

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you know, yeah Exactly. The article even points

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to the 2008 financial crisis as an example, where

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gold actually saw significant price increases

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while a lot of other assets were plummeting.

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Oh, wow. OK, so it can kind of act as like a

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counterbalance or almost like an insurance policy,

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I guess. Yeah, exactly. Interesting. OK, so stability

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is a big one. What else? Well, another benefit

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that's often cited is that precious metals, particularly

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gold, can act as a hedge against inflation. Okay,

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yeah. Inflation's been a big topic of conversation

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lately, so that makes sense that that would be

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a factor here. Can you explain a little bit more

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about how that works? Sure. So, you know, historically,

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precious metals and especially gold have been

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seen as a way to kind of protect your wealth

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against the declining purchasing power of, you

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know, paper money due to inflation. The idea

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is that as, you know, the value of currency Decreases

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over time the intrinsic value of precious metals

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it tends to rise So it can help just you know

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preserve the long -term value of your savings

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So you're not losing out as much to that inflation

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as you might with say, you know just holding

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cash or something like that exactly the Article

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puts it this way. Gold traditionally appreciates

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in value over time, whereas the value of paper

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money declines due to inflation. Right. OK. Yeah,

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that makes sense. Now, another thing that we

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hear all the time when it comes to investing

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is the importance of diversification. So how

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does adding precious metals into the mix play

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into that, you know, that idea of diversifying

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your portfolio? Yeah. So diversification is basically

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just, you know, not putting all your eggs in

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one basket. Right. Don't put everything in one

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stock or one whatever. Right. Yeah. By including

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precious metals in your retirement portfolio,

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you're not just relying on the performance of

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stocks and bonds. And that can help to kind of

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smooth out the overall returns of your portfolio,

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reduce the impact of those market swings. The

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article highlights that this balanced approach

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can help ensure more stable growth over the long

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term. Okay, so it's kind of like, you know, you're

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spreading out the risk a little bit. Exactly.

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Having things that, you know, might perform differently

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under different economic conditions. Right, exactly.

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Okay, so we've talked about some of the advantages,

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the benefits of potentially investing in a precious

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metals IRA. If someone's listening and they're

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thinking, okay, this is intriguing, I'm interested,

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I want to explore this further, like, what are

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the steps involved in actually opening one of

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these accounts? Sure. So the process involves

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a couple of key players and steps. OK. So the

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first thing you'll need to do is select a gold

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IRA company. OK. And this is essentially the

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company that will guide you through the process

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and help you with the logistics of setting up

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and managing the account. Gotcha. You also need

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to choose a custodian. OK. And this is a financial

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institution that's responsible for actually holding

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the assets in your IRA. So they're kind of the

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safe keeper, if you will. It's not like the gold

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bars are going to be delivered to your house

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or anything. No, no. They're going to be held

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somewhere safe and secure. Yeah, exactly. And

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the good news is that gold IRA companies often

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have, you know, established relationships with

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custodians so they can typically recommend one

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to you. So it's kind of like a one stop shop

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almost. Yeah, it streamlines the process. OK.

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So we choose a company, we choose a custodian.

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What happens next? Right. So once you have those

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pieces in place, you'll need to fund your account.

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And there are a few different ways you can do

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that. You can make direct cash contributions,

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which is probably the most straightforward way.

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And of course, those would be subject to the

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annual contribution limits that we talked about

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earlier. Right. You can also do something called

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a rollover, where you transfer funds from an

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existing retirement account, like a 401k or a

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traditional IRA. into your precious metals IRA.

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OK. So you can kind of shift money around. Exactly.

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And then you can also do what's called a direct

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transfer between IRAs. And this is basically

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moving funds from one IRA to another without

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actually taking possession of the money. OK.

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So a little bit less paperwork, less hassle.

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Yeah. Yeah. And it's a tax advantage way to do

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it as well. OK. So we've chosen our players.

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We funded the account. What's the next step?

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Well. Then comes the fun part. You actually get

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to choose the precious metals that you want to

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include in your IRA. So you'll work closely with

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your gold IRA company to select and purchase

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the IRS approved metals. And they can provide

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guidance and make sure that you're choosing eligible

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products that meet those purity standards that

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we talked about earlier. Right. Make sure you're

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not getting ripped off or anything like that.

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Exactly. OK. So that sounds pretty straightforward.

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Now, the other thing that, you know, always comes

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up with retirement accounts is the tax implications.

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Right. So what are we looking at here in terms

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of the tax benefits associated with a precious

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metals IRA? So from what we see in the article,

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precious metals IRAs offer similar tax advantages

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to traditional and Roth IRAs. OK. Generally,

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you've got two main options. OK. You can choose

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what's typically referred to as a traditional

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precious metals IRA. OK. And in this case, your

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contributions may be tax deductible in the year

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that you make them. And your investments would

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grow tax -deferred, meaning you wouldn't have

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to pay taxes on the gains until you actually

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take distributions in retirement. OK. So you

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kind of kick the can down the road a little bit.

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Exactly. Pay the taxes later. OK. What's the

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other option? The other option is more of a Roth

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IRA structure. And the article mentions the concept

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of tax -free growth. So, in that case, you'd

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be paying taxes and your contributions upfront,

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but then qualified withdrawals and retirement,

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including any gains, would be tax free. Okay.

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So, pay now, enjoy it later. Exactly. Okay. So,

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two different options, kind of depending on your

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tax situation and your preferences. Right. Yeah.

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It's definitely something to consider and consult

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with a tax professional on to make sure you're

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making the right choice. Right. For sure. Now,

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the article also has a little FAQ section at

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the end. And I always think those are helpful,

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just to kind of reiterate some of those key points.

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Absolutely. Yeah. So anything stand out to you

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from the FAQ that we haven't already kind of

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touched on? Yeah. It just reinforces a couple

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of things, just to make sure it's clear. It reiterates

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the specific types of precious metals that are

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eligible and those purity requirements. So just

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as a reminder, gold. 99 .5 % purity, silver at

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99 .9 % and then both platinum and palladium

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requiring a minimum of 99 .95 % purity. So they're

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really making sure that it's the real deal. Exactly.

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Investment grade. Okay. And then it also confirms

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that you can transfer funds from your existing

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IRAs into a precious metals IRA. Okay. Either

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through a direct transfer or by rolling over

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funds from another retirement account like a

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401k. So if you've already got some retirement

00:12:38.379 --> 00:12:40.740
savings, you can kind of, you know, shift things

00:12:40.740 --> 00:12:42.820
around, diversify a little bit. Exactly. Yeah.

00:12:42.860 --> 00:12:44.940
Gives you some flexibility. OK, so let's kind

00:12:44.940 --> 00:12:46.580
of bring it all together. What have we learned?

00:12:47.419 --> 00:12:49.919
It seems like eligibility for a precious metals

00:12:49.919 --> 00:12:53.320
IRA is pretty broad. You know, basically, if

00:12:53.320 --> 00:12:55.200
you have earned income, you're probably eligible.

00:12:55.600 --> 00:12:59.019
You can hold very specific forms of gold, silver,

00:12:59.139 --> 00:13:01.399
platinum, and palladium within the account. We

00:13:01.399 --> 00:13:03.360
talked about the benefits, you know, that potential

00:13:03.360 --> 00:13:06.710
for stability during those. rocky economic times,

00:13:07.330 --> 00:13:09.669
hedging against inflation. And then, you know,

00:13:09.769 --> 00:13:11.870
that diversification factor, which is always

00:13:11.870 --> 00:13:13.590
a good thing to have in your portfolio. We talked

00:13:13.590 --> 00:13:16.269
about the steps involved. Choosing that company,

00:13:16.450 --> 00:13:18.190
choosing the custodian, funding the account,

00:13:18.549 --> 00:13:21.529
picking out your medals. And then finally, you

00:13:21.529 --> 00:13:24.049
know, the tax advantages that are similar to

00:13:24.049 --> 00:13:26.889
those traditional and Roth IRAs. Yeah, you've

00:13:26.889 --> 00:13:29.149
covered all the bases. All right, good. So, you

00:13:29.149 --> 00:13:30.549
know, as you're listening to this and you're

00:13:30.549 --> 00:13:32.789
thinking about, you know, your long term financial

00:13:32.789 --> 00:13:36.460
strategy. Here's a question I want you to ponder.

00:13:36.519 --> 00:13:39.480
OK. We're living in a world where there is a

00:13:39.480 --> 00:13:43.320
lot of potential for economic volatility. We've

00:13:43.320 --> 00:13:47.360
got inflation to think about. How might incorporating

00:13:47.360 --> 00:13:50.759
some tangible assets like precious metals into

00:13:50.759 --> 00:13:54.039
your retirement plan provide that extra layer

00:13:54.039 --> 00:13:57.279
of security and diversification that you might

00:13:57.279 --> 00:13:59.899
not get with just the typical stocks and bonds?

00:14:00.379 --> 00:14:03.059
Is this an avenue that's worth exploring further?

00:14:03.159 --> 00:14:05.320
Yeah. Definitely something to think about. All

00:14:05.320 --> 00:14:06.779
right. Well, thanks for taking this deep dive

00:14:06.779 --> 00:14:09.220
with us. We hope you found it informative and

00:14:09.220 --> 00:14:11.320
We'll see you next time. Sounds good