WEBVTT 00:00:00.000 --> 00:00:02.640 Hello and welcome. If you're tuning in, chances 00:00:02.640 --> 00:00:04.639 are you're thinking smart about your retirement, 00:00:05.240 --> 00:00:07.740 maybe looking at tangible assets, perhaps even 00:00:07.740 --> 00:00:11.160 gold or silver. And that's exactly what we're 00:00:11.160 --> 00:00:13.240 digging into today. Yeah, we're tackling a really 00:00:13.240 --> 00:00:16.660 specific question. Can you actually hold silver? 00:00:17.199 --> 00:00:20.420 in what most people call a gold IRA. Right, and 00:00:20.420 --> 00:00:22.559 the quick answer, just to get it out there, is 00:00:22.559 --> 00:00:25.179 yes, you absolutely can. It's technically a precious 00:00:25.179 --> 00:00:28.059 metals IRA, but yes, silver's on the list. Okay, 00:00:28.179 --> 00:00:30.100 good, so let's unpack that. A precious metals 00:00:30.100 --> 00:00:32.200 IRA, it's a self -directed retirement account, 00:00:32.259 --> 00:00:34.759 right? Exactly, so instead of just stocks and 00:00:34.759 --> 00:00:38.119 bonds, you can hold physical metals. Gold, obviously, 00:00:38.200 --> 00:00:40.899 but also silver, platinum, palladium. The idea 00:00:40.899 --> 00:00:42.759 being it's a hedge, maybe against inflation, 00:00:43.320 --> 00:00:46.670 add some diversification. Precisely. Diversification 00:00:46.670 --> 00:00:49.450 and a potential inflation buffer are key drivers 00:00:49.450 --> 00:00:52.049 for most people. So this deep dive is all about 00:00:52.049 --> 00:00:54.630 figuring out how silver fits into that picture. 00:00:54.990 --> 00:00:57.270 Well, look at the IRS rules. Got to know those. 00:00:57.350 --> 00:00:58.929 Oh, yeah. The rules are non -negotiable. And 00:00:58.929 --> 00:01:01.850 the benefits of silver specifically, storage 00:01:01.850 --> 00:01:04.230 requirements, which sound important, and just 00:01:04.230 --> 00:01:06.750 the basic steps involved. We've waded through 00:01:06.750 --> 00:01:09.069 the regulations, the IRA details, all that stuff, 00:01:09.269 --> 00:01:11.780 to give you the clear picture. Our goal here 00:01:11.780 --> 00:01:14.420 is for you to walk away understanding how silver 00:01:14.420 --> 00:01:16.739 could work in your retirement savings without 00:01:16.739 --> 00:01:19.040 getting bogged down in jargon. So where do we 00:01:19.040 --> 00:01:21.420 start? I guess with the big one. What does the 00:01:21.420 --> 00:01:24.159 IRS actually say? Is silver officially allowed 00:01:24.159 --> 00:01:25.959 in these accounts? Yeah, that's definitely the 00:01:25.959 --> 00:01:28.640 foundation. And yes, the IRS gives it the green 00:01:28.640 --> 00:01:31.099 light. Silver is permissible within a precious 00:01:31.099 --> 00:01:34.219 metals IRA. But and this is a big but there are 00:01:34.219 --> 00:01:36.700 rules. Always rules. Always rules. And the main 00:01:36.700 --> 00:01:39.340 one for silver is purity. It has to be at least 00:01:39.340 --> 00:01:43.219 99 .9 % pure. That .9 % is critical. It's not 00:01:43.219 --> 00:01:45.760 just any old silver coin or bar. Right. The IRS 00:01:45.760 --> 00:01:48.040 sets these standards to make sure the metal held 00:01:48.040 --> 00:01:51.560 has, you know, real intrinsic value. And it applies 00:01:51.560 --> 00:01:53.980 to the other metals, too. Gold, platinum, palladium 00:01:53.980 --> 00:01:56.799 all have their own purity thresholds. 99 .9 % 00:01:56.799 --> 00:01:59.599 for silver. Minimum. Minimum. And that means 00:01:59.599 --> 00:02:01.319 you've got to be careful where you buy it from. 00:02:01.760 --> 00:02:04.280 Reputable sources are key to guaranteeing that 00:02:04.280 --> 00:02:07.260 purity. OK, so. Assuming you get the right kind 00:02:07.260 --> 00:02:10.400 of silver. Why would you choose it? Why add silver 00:02:10.400 --> 00:02:14.419 to your IRA? Maybe instead of or alongside gold. 00:02:14.680 --> 00:02:16.960 What's the upside for our listeners? Well, there 00:02:16.960 --> 00:02:19.180 are several good reasons I think the first one 00:02:19.180 --> 00:02:21.879 that comes to mind for most people is diversification 00:02:21.879 --> 00:02:24.400 Okay, adding silver means you're not putting 00:02:24.400 --> 00:02:26.819 all your eggs in one basket even within precious 00:02:26.819 --> 00:02:30.340 metals Silver sometimes moves differently than 00:02:30.340 --> 00:02:33.120 gold in the market spreads the risk makes sense. 00:02:33.120 --> 00:02:36.460 Don't bet the farm on one thing Another really 00:02:36.460 --> 00:02:39.539 practical point is the cost of entry. Silver, 00:02:39.680 --> 00:02:42.219 generally speaking, is much more affordable per 00:02:42.219 --> 00:02:44.960 ounce than gold. Right. Significantly so. Yeah. 00:02:45.259 --> 00:02:47.500 So for the same amount of money, you can buy 00:02:47.500 --> 00:02:49.840 a lot more physical silver. That makes it more 00:02:49.840 --> 00:02:51.919 accessible if you're just starting or if you 00:02:51.919 --> 00:02:54.580 want to build up a decent physical holding without 00:02:54.580 --> 00:02:56.879 a huge initial cost. So you get more ounces in 00:02:56.879 --> 00:02:58.560 your hands, so to speak, for your investment. 00:02:58.819 --> 00:03:01.460 Exactly. It can feel more substantial for the 00:03:01.460 --> 00:03:03.659 same dollar amount compared to maybe buying a 00:03:03.659 --> 00:03:05.979 fraction of a gold coin. But does it have that 00:03:05.979 --> 00:03:08.800 same kind of long -term reputation? is seen as 00:03:08.800 --> 00:03:11.879 the store of value. Does silver measure up? It 00:03:11.879 --> 00:03:14.300 does, historically speaking. Silver has been 00:03:14.300 --> 00:03:16.840 used as money in a way to preserve wealth for, 00:03:16.840 --> 00:03:19.819 well, centuries, just like gold. Maybe gold gets 00:03:19.819 --> 00:03:21.800 more headlines today, but silver has a really 00:03:21.800 --> 00:03:23.900 long track record too. OK, and here's something 00:03:23.900 --> 00:03:27.219 I find fascinating about silver. It's not just 00:03:27.219 --> 00:03:29.639 money or an investment, is it? It's used in, 00:03:29.800 --> 00:03:32.669 well, Loads of industries. That's a huge factor 00:03:32.669 --> 00:03:35.449 and a major difference from gold. Gold's demand 00:03:35.449 --> 00:03:39.530 is mostly jewelry and investment. Silver. It's 00:03:39.530 --> 00:03:41.710 everywhere. Like where? Electronics for starters. 00:03:41.909 --> 00:03:44.830 It's incredibly conductive. Solar panels, vital 00:03:44.830 --> 00:03:47.870 component there. Even medical uses, thanks to 00:03:47.870 --> 00:03:50.569 its antibacterial properties. Wow. So you've 00:03:50.569 --> 00:03:52.610 got this dual source of demand. People want it 00:03:52.610 --> 00:03:55.289 as money, like gold, but industry needs it as 00:03:55.289 --> 00:03:58.000 a raw material. And that industrial demand is 00:03:58.000 --> 00:04:00.219 growing. Think about solar energy expansion, 00:04:00.419 --> 00:04:03.000 electric vehicles. Ah, EVs need silver too. Oh 00:04:03.000 --> 00:04:05.300 yes, quite a bit in the electrical systems. So 00:04:05.300 --> 00:04:07.240 that industrial pool could potentially support 00:04:07.240 --> 00:04:09.620 its price or even drive growth in a way that's 00:04:09.620 --> 00:04:12.259 different from gold. So if I'm hearing you right, 00:04:12.680 --> 00:04:15.699 gold is maybe the stable anchor, the traditional 00:04:15.699 --> 00:04:19.040 safe haven. Silver is more affordable, lets you 00:04:19.040 --> 00:04:21.720 buy more quantity, has that historical value, 00:04:21.980 --> 00:04:24.259 plus this industrial demand kicker that could 00:04:24.259 --> 00:04:26.329 add growth potential. That sums it up pretty 00:04:26.329 --> 00:04:29.250 well. Lower cost, potentially higher volatility 00:04:29.250 --> 00:04:31.670 than gold, maybe higher growth ceiling because 00:04:31.670 --> 00:04:35.269 of that industrial use allows for bigger physical 00:04:35.269 --> 00:04:37.790 accumulation early on. It's a different profile. 00:04:37.990 --> 00:04:41.029 Okay. Really interesting differences. So we know 00:04:41.029 --> 00:04:43.189 why someone might want silver. Let's get back 00:04:43.189 --> 00:04:45.870 to the practicalities, the how and crucially 00:04:45.870 --> 00:04:48.230 the where. Where does this silver actually live 00:04:48.230 --> 00:04:50.170 once it's in your IRA? You can't just take it 00:04:50.170 --> 00:04:52.230 home, right? Absolutely not. That's probably 00:04:52.230 --> 00:04:55.540 the most important rule after purity. The IRS 00:04:55.540 --> 00:04:58.959 is crystal clear. Any precious metals in an IRA 00:04:58.959 --> 00:05:01.600 silver included must be held by an IRS approved 00:05:01.600 --> 00:05:04.279 depository. An approved third party? Yes. You 00:05:04.279 --> 00:05:06.639 cannot have personal possession. No storing it 00:05:06.639 --> 00:05:08.620 in your basement safe, no burying it in the backyard, 00:05:08.819 --> 00:05:10.959 not even a safe deposit box at your local bank 00:05:10.959 --> 00:05:14.060 branch. And if you do? Big trouble. The IRS treats 00:05:14.060 --> 00:05:17.009 it as a distribution. like taking money out of 00:05:17.009 --> 00:05:20.129 your IRA early, that means taxes, and likely 00:05:20.129 --> 00:05:23.370 some pretty hefty penalties on top. Ouch. Okay, 00:05:24.209 --> 00:05:26.170 so definitely no home storage. It has to go to 00:05:26.170 --> 00:05:27.870 one of these special depositories. What are they 00:05:27.870 --> 00:05:31.230 like? They're highly secure facilities. Think 00:05:31.230 --> 00:05:35.509 vaults, security systems. insurance, regular 00:05:35.509 --> 00:05:38.170 audits, they specialize in holding these assets 00:05:38.170 --> 00:05:40.829 for IRA accounts. It's all about ensuring the 00:05:40.829 --> 00:05:43.709 metal is safe, accounted for, and meets the IRS 00:05:43.709 --> 00:05:45.750 requirements. Right. So the system has integrity. 00:05:46.149 --> 00:05:48.569 Makes sense. So if a listener is thinking, OK, 00:05:48.769 --> 00:05:50.550 silver sounds interesting. I want to do this. 00:05:50.889 --> 00:05:52.629 What are the actual steps? How do they make it 00:05:52.629 --> 00:05:55.329 happen? First step, and it's a big one, is choosing 00:05:55.329 --> 00:05:58.910 a reputable gold IRA company. Not just any financial 00:05:58.910 --> 00:06:00.930 advisor. No, you really need a specialist firm. 00:06:01.079 --> 00:06:03.100 These companies know the ins and outs of setting 00:06:03.100 --> 00:06:05.519 up and managing these specific types of IRAs. 00:06:05.680 --> 00:06:07.839 They handle the paperwork, ensure compliance, 00:06:08.199 --> 00:06:09.779 work with the depositories. So they guide you 00:06:09.779 --> 00:06:12.060 through it all? They should, yes. Look for a 00:06:12.060 --> 00:06:14.980 company with a solid track record. Check reviews, 00:06:15.079 --> 00:06:17.040 look at their fees, make sure they're transparent 00:06:17.040 --> 00:06:18.600 and see what their customer service is like. 00:06:19.019 --> 00:06:21.800 Due diligence here is really important. OK, find 00:06:21.800 --> 00:06:25.540 a good gold IRA company. Step one, what's next? 00:06:25.740 --> 00:06:29.319 Step two is getting the actual silver. And remembering 00:06:29.319 --> 00:06:33.100 that purity rule, 99 .9 % minimum. Right. So 00:06:33.100 --> 00:06:36.120 you need to buy eligible silver products. Your 00:06:36.120 --> 00:06:38.980 IRA company can help here, but popular choices 00:06:38.980 --> 00:06:42.519 are things like American silver eagle coins or 00:06:42.519 --> 00:06:44.319 Canadian silver maple leaves. Those are very 00:06:44.319 --> 00:06:46.379 common. Are there others? Oh, yeah. Australian 00:06:46.379 --> 00:06:49.319 silver kangaroos, for example. The key is that 00:06:49.319 --> 00:06:51.279 they meet the purity standard and are generally 00:06:51.279 --> 00:06:54.009 accepted for IRAs. Your company will confirm 00:06:54.009 --> 00:06:57.009 eligibility. And keep all your purchase records. 00:06:57.209 --> 00:07:00.410 Very important. Keep the receipts. Got it. So 00:07:00.410 --> 00:07:02.009 you've picked the company, you've sourced the 00:07:02.009 --> 00:07:05.550 right silver. Then what? Then the IRA company 00:07:05.550 --> 00:07:07.829 helps you set up the actual self -directed IRA 00:07:07.829 --> 00:07:10.230 account. Often this involves rolling over funds 00:07:10.230 --> 00:07:12.029 from an existing retirement account, like an 00:07:12.029 --> 00:07:14.829 old 401k or a traditional IRA. So you're moving 00:07:14.829 --> 00:07:17.339 money from one retirement pot to another. Exactly. 00:07:17.420 --> 00:07:20.040 It's usually a tax -free transfer or a rollover. 00:07:20.399 --> 00:07:22.379 They handle the mechanics of getting your silver 00:07:22.379 --> 00:07:25.139 purchased and securely shipped directly to the 00:07:25.139 --> 00:07:26.939 approved depository you've chosen with them. 00:07:27.079 --> 00:07:29.199 And then you just monitor it? Pretty much. You 00:07:29.199 --> 00:07:31.420 get statements, you keep an eye on your investment, 00:07:31.680 --> 00:07:34.120 stay informed about the market. The IRA company 00:07:34.120 --> 00:07:36.519 manages the account administration and storage 00:07:36.519 --> 00:07:38.899 coordination. Okay. That clarifies the process. 00:07:39.139 --> 00:07:41.459 Now, we covered a lot, but I bet some specific 00:07:41.459 --> 00:07:44.500 questions are popping up. Our sources anticipated 00:07:44.500 --> 00:07:46.939 a few common ones, so let's run through a quick 00:07:46.939 --> 00:07:51.360 FAQ. First up, you mentioned eagles and maple 00:07:51.360 --> 00:07:53.819 leaves. Can you remind us of some eligible silver 00:07:53.819 --> 00:07:57.370 coins again? Sure. Again, the key is 99 .9 % 00:07:57.370 --> 00:08:00.589 purity. So American silver eagles, Canadian silver 00:08:00.589 --> 00:08:02.769 maple leaves, Australian silver kangaroos are 00:08:02.769 --> 00:08:05.269 common examples. Austrian philharmonics too, 00:08:05.269 --> 00:08:07.709 often. Always best can confirm with your IRA 00:08:07.709 --> 00:08:10.050 provider, but those are widely accepted. Good. 00:08:10.129 --> 00:08:12.730 Next question. Are there any extra penalties 00:08:12.730 --> 00:08:15.430 just for having silver in the IRA, assuming you 00:08:15.430 --> 00:08:18.709 follow the rules? No, absolutely not. If you 00:08:18.709 --> 00:08:20.850 follow the rules purity standard met, stored 00:08:20.850 --> 00:08:23.350 in an improved depository, it's perfectly legal. 00:08:23.660 --> 00:08:26.319 And there are no specific penalties just for 00:08:26.319 --> 00:08:28.939 choosing silver. Penalties only come into play 00:08:28.939 --> 00:08:31.819 if you break those IRS rules. Like trying to 00:08:31.819 --> 00:08:33.960 soar it yourself. Exactly. That's the big one. 00:08:34.019 --> 00:08:36.440 Which brings us to the next point. Let's hammer 00:08:36.440 --> 00:08:39.899 this home. Home storage. Can you do it? Still 00:08:39.899 --> 00:08:42.259 no. Definitely not. I know we keep saying it, 00:08:42.259 --> 00:08:45.279 but it's crucial. All IRA precious metals must 00:08:45.279 --> 00:08:47.639 be held by an approved third -party custodian 00:08:47.639 --> 00:08:50.740 or depository. Home storage equals distribution, 00:08:51.120 --> 00:08:55.000 equals taxes and penalties. End of story. Crystal 00:08:55.000 --> 00:08:58.480 clear. OK, last FAQ. Costs. It's not just the 00:08:58.480 --> 00:09:00.500 price of silver, right? What other fees are involved? 00:09:00.580 --> 00:09:02.559 That's a really important consideration. Yes, 00:09:02.740 --> 00:09:04.879 besides buying the silver itself, there are ongoing 00:09:04.879 --> 00:09:07.899 costs. Storage fees at the depository are typical, 00:09:08.080 --> 00:09:10.580 could be, say, $100 to $300 a year, maybe more, 00:09:10.679 --> 00:09:12.740 depending on how much metal you have. There might 00:09:12.740 --> 00:09:15.340 be an initial setup fee for the IRA account itself, 00:09:15.659 --> 00:09:17.879 and potentially transaction fees when you buy 00:09:17.879 --> 00:09:20.350 or sell metal within the IRA. So you need to 00:09:20.350 --> 00:09:23.009 get a clear breakdown of all the fees from the 00:09:23.009 --> 00:09:26.070 gold IRA company upfront. Absolutely. Understand 00:09:26.070 --> 00:09:27.950 the total cost of ownership, not just the metal 00:09:27.950 --> 00:09:31.350 price, before you commit. Great advice. OK, let's 00:09:31.350 --> 00:09:33.190 try and wrap this up. What's the main takeaway 00:09:33.190 --> 00:09:35.710 for our listeners today? I think the core message 00:09:35.710 --> 00:09:39.250 is, yes, you can strategically use silver within 00:09:39.250 --> 00:09:42.289 a precious metals IRA to diversify your retirement. 00:09:42.629 --> 00:09:46.100 It's a valid option. But. But you have to follow 00:09:46.100 --> 00:09:47.740 the rules. You absolutely have to follow the 00:09:47.740 --> 00:09:52.279 IRS rules. Purity 99 .9 % and storage in an approved 00:09:52.279 --> 00:09:54.460 depository. Get those right and you're good. 00:09:54.740 --> 00:09:57.279 And the potential upsides we discussed. Yeah. 00:09:57.580 --> 00:10:00.419 Lower entry costs than gold, diversification 00:10:00.419 --> 00:10:03.559 and that unique industrial demand element. Silver 00:10:03.559 --> 00:10:06.259 isn't just a monetary metal. It's a vital industrial 00:10:06.259 --> 00:10:09.019 commodity too. Which leads to maybe a final thought 00:10:09.019 --> 00:10:11.000 for people to ponder. Yeah, something to think 00:10:11.000 --> 00:10:13.840 about. As technology advances, especially in 00:10:13.840 --> 00:10:17.299 green energy, electronics, EVs, that industrial 00:10:17.299 --> 00:10:19.500 demand for silver seems likely to keep growing, 00:10:19.659 --> 00:10:22.360 doesn't it? It certainly looks that way. So how 00:10:22.360 --> 00:10:24.460 might that increasing industrial consumption 00:10:24.460 --> 00:10:27.519 affect silver's long -term value as part of your 00:10:27.519 --> 00:10:29.899 retirement savings? It's definitely an interesting 00:10:29.899 --> 00:10:31.840 angle to consider when you're looking at the 00:10:31.840 --> 00:10:33.960 role different metals might play in securing 00:10:33.960 --> 00:10:35.080 your financial future.