WEBVTT 00:00:00.000 --> 00:00:01.780 Okay, let's be honest for a second. There is 00:00:01.780 --> 00:00:06.299 something undeniably attractive about gold. It's 00:00:06.299 --> 00:00:09.900 shiny, it's heavy, and it's been valuable for... 00:00:09.919 --> 00:00:12.800 Well, basically forever. It just feels solid. 00:00:13.019 --> 00:00:15.039 It does. Yeah, it absolutely does. It appeals 00:00:15.039 --> 00:00:18.039 to that that really primal instinct to protect 00:00:18.039 --> 00:00:20.120 what you've earned. Yeah, especially when you 00:00:20.120 --> 00:00:22.460 see the stock market bouncing all over the place 00:00:22.460 --> 00:00:24.280 or you read these headlines about inflation. 00:00:24.739 --> 00:00:26.920 The idea of having a chunk of your retirement 00:00:26.920 --> 00:00:30.320 in actual physical gold just feels secure. It's 00:00:30.320 --> 00:00:32.179 tangible wealth. You can hold it in your hand. 00:00:32.740 --> 00:00:34.939 Well, technically you can't not in an IRA, which 00:00:34.939 --> 00:00:37.380 we'll get to. But the concept is there. It's 00:00:37.380 --> 00:00:40.369 real. Exactly. It's not just a number on a screen 00:00:40.369 --> 00:00:43.229 somewhere. Right. But here's the problem, and 00:00:43.229 --> 00:00:44.829 this is what we're really digging into today. 00:00:44.969 --> 00:00:47.469 Right. While the gold itself might be the definition 00:00:47.469 --> 00:00:49.990 of stability, the industry that's built around 00:00:49.990 --> 00:00:52.689 putting that rolled into your IRA, it can be 00:00:52.689 --> 00:00:55.070 a total Wild West. That's a very polite way of 00:00:55.070 --> 00:00:57.270 putting it. Wild West implies there's at least 00:00:57.270 --> 00:01:01.789 a sheriff in town. Huh. Good point. In the gold 00:01:01.789 --> 00:01:04.250 IRA space, sometimes it's more of a jungle. You've 00:01:04.250 --> 00:01:07.500 got slick marketing, hidden fees, these high 00:01:07.500 --> 00:01:09.780 pressure sales tactics. And a lot of companies 00:01:09.780 --> 00:01:11.959 that seem more interested in their commission 00:01:11.959 --> 00:01:14.920 than, you know, your actual retirement. And that's 00:01:14.920 --> 00:01:18.040 the scary part. For most of us, let's just call 00:01:18.040 --> 00:01:20.920 us the learners. The real barrier isn't the price 00:01:20.920 --> 00:01:23.879 of gold. It's the sheer complexity of picking 00:01:23.879 --> 00:01:26.680 a partner. It's overwhelming. You Google gold 00:01:26.680 --> 00:01:29.819 IRA and you just get hit with the tsunami of 00:01:29.819 --> 00:01:33.019 ads. They all claim to be number one. They all 00:01:33.019 --> 00:01:35.400 have celebrity spokes. And they all promise the 00:01:35.400 --> 00:01:38.719 moon. How do you even begin to filter through 00:01:38.719 --> 00:01:42.109 that noise? It's a real challenge, and the stakes 00:01:42.109 --> 00:01:44.590 are high. Very high. Making the wrong choice 00:01:44.590 --> 00:01:47.109 isn't just an annoyance. It can literally cost 00:01:47.109 --> 00:01:49.609 you a significant percentage of your retirement 00:01:49.609 --> 00:01:51.890 savings over time. Which is why the source material 00:01:51.890 --> 00:01:53.650 we're looking at today is so valuable. We're 00:01:53.650 --> 00:01:56.209 doing a deep dive into a guy called How to Pick 00:01:56.209 --> 00:01:59.030 the Best Gold IRA Company. And we should be clear, 00:01:59.209 --> 00:02:01.349 this isn't just some random blog post. No, not 00:02:01.349 --> 00:02:03.489 at all. This comes from the Gold IRA Company's 00:02:03.489 --> 00:02:05.510 bulletin, and the author is a guy named Doug 00:02:05.510 --> 00:02:08.139 Young. Right. And his background is, I think, 00:02:08.360 --> 00:02:10.379 really crucial here. We're not taking advice 00:02:10.379 --> 00:02:13.560 from some casual observer. Doug Young is a former 00:02:13.560 --> 00:02:16.379 financial director. He has over 20 years in financial 00:02:16.379 --> 00:02:19.699 markets. And specifically 15 plus years specializing 00:02:19.699 --> 00:02:22.639 in gold IRAs. The source says he's conducted 00:02:22.639 --> 00:02:25.599 over 80. That's eight zero evaluations of these 00:02:25.599 --> 00:02:28.400 companies since 2011. That is a massive data 00:02:28.400 --> 00:02:31.240 set. I mean, he has seen the good, the bad and 00:02:31.240 --> 00:02:34.280 the really ugly. He knows where the bodies are 00:02:34.280 --> 00:02:36.580 buried, so to speak. So our mission today is 00:02:36.580 --> 00:02:38.500 pretty simple. We're going to take Doug Young's 00:02:38.500 --> 00:02:42.479 expertise and basically build a checklist for 00:02:42.479 --> 00:02:44.759 you. A roadmap. Exactly. A roadmap to help you 00:02:44.759 --> 00:02:47.300 get past the flashy ads and the scary doom and 00:02:47.300 --> 00:02:49.780 gloom pitches, and instead look at the nuts and 00:02:49.780 --> 00:02:52.460 bolts. We're talking fees, storage, and maybe 00:02:52.460 --> 00:02:54.659 most importantly. The exit strategy. People always 00:02:54.659 --> 00:02:56.580 forget the exit strategy. It's easy to get into 00:02:56.580 --> 00:02:58.340 a room, but you have to make sure there's a door 00:02:58.340 --> 00:03:00.300 to get out. We will definitely get there. But 00:03:00.300 --> 00:03:03.340 let's start at the beginning. Phase one, the 00:03:03.340 --> 00:03:07.560 initial filter. reputation. And Doug Young starts 00:03:07.560 --> 00:03:10.139 with a pretty stern warning about all that marketing. 00:03:10.500 --> 00:03:14.439 What's the core message there? It's simple. Popularity 00:03:14.439 --> 00:03:17.699 does not equal integrity. Just because a company 00:03:17.699 --> 00:03:20.340 has the slickest TV commercial doesn't mean they're 00:03:20.340 --> 00:03:22.520 the best place for your life savings. In fact, 00:03:22.599 --> 00:03:24.400 a huge marketing budget might just mean they 00:03:24.400 --> 00:03:26.860 have to charge higher fees to pay for it all. 00:03:27.020 --> 00:03:29.680 Exactly. So if we ignore the ads and we ignore 00:03:29.680 --> 00:03:31.500 the guy from the action movies telling us to 00:03:31.500 --> 00:03:34.210 buy gold, where do we look? Because online reviews 00:03:34.210 --> 00:03:36.810 can be faked. Oh, they absolutely can be. It's 00:03:36.810 --> 00:03:38.750 a real problem. That's why you need to look at 00:03:38.750 --> 00:03:41.949 specific independent watchdog portals. OK, so 00:03:41.949 --> 00:03:44.389 where does he point us? He specifically names 00:03:44.389 --> 00:03:48.490 three. The Better Business Bureau, the Business 00:03:48.490 --> 00:03:52.430 Consumer Alliance or BCA, and TrustLink. So not 00:03:52.430 --> 00:03:54.129 just Google reviews. We're talking about the 00:03:54.129 --> 00:03:56.409 heavy hitters. And what are we looking for? Just 00:03:56.409 --> 00:03:59.590 a star rating. No, not just the stars. You want 00:03:59.590 --> 00:04:02.150 to dig into the complaints, and more importantly, 00:04:02.210 --> 00:04:05.110 how the company resolved them. Ah, okay. A company 00:04:05.110 --> 00:04:07.569 might have a shiny A -plus rating, but if you 00:04:07.569 --> 00:04:09.330 look at the history and see a pattern of people 00:04:09.330 --> 00:04:11.750 saying, they charged me a fee I didn't know about, 00:04:12.150 --> 00:04:14.949 that's a huge red flag. That's not just a bad 00:04:14.949 --> 00:04:17.029 day at the office, that's a bad business model. 00:04:17.490 --> 00:04:19.910 Precisely. And speaking of bad business models, 00:04:20.329 --> 00:04:23.069 the source lists some specific behavioral warning 00:04:23.069 --> 00:04:25.790 signs. This is what happens when you actually 00:04:25.790 --> 00:04:27.649 get on the phone with someone. Right. The biggest 00:04:27.649 --> 00:04:31.250 one is what he calls the fear cell. High pressure 00:04:31.250 --> 00:04:34.149 sales tactics. You mean like buy now before it's 00:04:34.149 --> 00:04:36.430 too late? Exactly. If they're pushing you to 00:04:36.430 --> 00:04:38.769 buy right now or saying the dollar is going to 00:04:38.769 --> 00:04:40.350 collapse next Tuesday so you have to move your 00:04:40.350 --> 00:04:43.870 401k today, hang up. It's a manipulation tactic. 00:04:44.009 --> 00:04:47.290 But that fear -mongering is so common. It's effective 00:04:47.290 --> 00:04:49.689 because people are genuinely worried. It is. 00:04:49.730 --> 00:04:52.310 But it's unethical. A trustworthy company wants 00:04:52.310 --> 00:04:55.199 you to be confident. not terrified, they should 00:04:55.199 --> 00:04:57.639 slow the process down, answer your questions, 00:04:58.240 --> 00:05:00.579 not stampede you into a decision. That connects 00:05:00.579 --> 00:05:02.480 to a concept in the source that I really loved, 00:05:02.680 --> 00:05:05.120 knowledge is wealth. Yes, this is a great litmus 00:05:05.120 --> 00:05:08.319 test. An ethical gold IRA company wants you to 00:05:08.319 --> 00:05:11.000 be educated. And not just educated by their marketing 00:05:11.000 --> 00:05:13.480 brochures that say gold is great. No, I mean 00:05:13.480 --> 00:05:16.379 providing unbiased education that explains the 00:05:16.379 --> 00:05:19.769 risks. not just the rewards. They should empower 00:05:19.769 --> 00:05:22.589 you to spot red flags if a company seems hesitant 00:05:22.589 --> 00:05:25.449 to explain the downsides. Or they gloss over 00:05:25.449 --> 00:05:27.129 the fact that gold doesn't pay dividends like 00:05:27.129 --> 00:05:29.290 stocks. Then they're not looking out for your 00:05:29.290 --> 00:05:32.009 best interests. They're just selling. Okay, so 00:05:32.009 --> 00:05:34.009 we've checked the BBB, we haven't been bullied 00:05:34.009 --> 00:05:36.350 by a salesperson, and they've actually taught 00:05:36.350 --> 00:05:39.009 us something. Now, we have to talk about the 00:05:39.009 --> 00:05:41.449 part that's usually boring but is actually the 00:05:41.449 --> 00:05:44.240 most dangerous. The fees. This is absolutely 00:05:44.240 --> 00:05:46.160 where the money pit trap lies. Let's unpack this, 00:05:46.279 --> 00:05:48.060 because there was a specific comparison in the 00:05:48.060 --> 00:05:51.360 source that gave me a real aha moment. Flat fees 00:05:51.360 --> 00:05:54.759 versus scaled fees. Yes. It sounds like jargon, 00:05:54.800 --> 00:05:57.939 but the math is just wild. It's so critical. 00:05:58.160 --> 00:06:00.459 Yeah. So a flat fee is exactly what it sounds 00:06:00.459 --> 00:06:03.279 like. You pay a set amount per year for administration 00:06:03.279 --> 00:06:07.170 and storage. Let's say $200. OK, so like. Renting 00:06:07.170 --> 00:06:09.649 a storage locker, the rent is the same whether 00:06:09.649 --> 00:06:12.029 you put one box in it or fill it to the ceiling. 00:06:12.290 --> 00:06:15.310 Perfect analogy. And a scaled fee. That's a percentage 00:06:15.310 --> 00:06:17.750 of your account value. Which sounds small, right? 00:06:18.209 --> 00:06:20.730 The source used an example of what? 0 .1%. That 00:06:20.730 --> 00:06:23.670 sounds like nothing. It sounds negligible. Yeah. 00:06:23.810 --> 00:06:25.850 But let's play the long game. Yeah. Say you start 00:06:25.850 --> 00:06:30.529 your IRA with $50 ,000. But over time, your investment 00:06:30.529 --> 00:06:34.100 does well. It grows to $100 ,000. With a scaled 00:06:34.100 --> 00:06:37.100 fee, your cost just doubled. So you're essentially 00:06:37.100 --> 00:06:39.379 being penalized because your investment grew? 00:06:39.600 --> 00:06:41.720 You are. You take the risk, the market goes up, 00:06:41.720 --> 00:06:44.500 and they take a bigger cut. With a flat fee, 00:06:44.600 --> 00:06:47.279 if your account grows from $50 ,000 to $100 ,000, 00:06:48.019 --> 00:06:50.860 your cost stays exactly the same. And over 20 00:06:50.860 --> 00:06:53.560 years of retirement, we're talking about thousands 00:06:53.560 --> 00:06:56.060 and thousands of dollars difference. Easily. 00:06:56.120 --> 00:06:58.220 Thousands of dollars that should be in your pocket. 00:06:58.579 --> 00:07:00.639 And that's before we even talk about hidden costs. 00:07:00.699 --> 00:07:03.319 Oh, the surprise charges. Like what? Things like 00:07:03.319 --> 00:07:05.740 account setup fees they never mentioned, or extra 00:07:05.740 --> 00:07:07.800 charges for shipping. The source warns about 00:07:07.800 --> 00:07:10.939 this. Transparency is everything here. So we've 00:07:10.939 --> 00:07:14.060 vetted them. We've gone with a flat fee. Now, 00:07:14.100 --> 00:07:17.360 logistics. Phase three. Setup, storage, and, 00:07:17.360 --> 00:07:20.779 well, the actual... The setup should be the easy 00:07:20.779 --> 00:07:23.300 part. A good company handles all the paperwork. 00:07:23.879 --> 00:07:25.600 They should hold your hand through the rollover 00:07:25.600 --> 00:07:28.519 process from your 401k. It shouldn't be a headache. 00:07:28.639 --> 00:07:31.259 Not at all. So here's the question I think a 00:07:31.259 --> 00:07:36.100 lot of people have. When I buy this gold, where 00:07:36.100 --> 00:07:38.040 is it? I mean, they don't mail me a gold bar 00:07:38.040 --> 00:07:40.480 to stick under my mattress. No, absolutely not. 00:07:40.569 --> 00:07:43.629 And please, listeners, do not try that. If you 00:07:43.629 --> 00:07:45.689 take personal possession of the gold in your 00:07:45.689 --> 00:07:49.529 IRA, the IRS considers that a distribution. Ouch. 00:07:49.810 --> 00:07:52.250 So you get hit with taxes and penalties? Instantly. 00:07:52.389 --> 00:07:54.709 It has to go to an IRS -approved depository, 00:07:54.930 --> 00:07:57.449 a secure vault. Got it. But the source makes 00:07:57.449 --> 00:07:59.629 a distinction here between two types of storage, 00:08:00.329 --> 00:08:02.250 segregated and commingled. Right, think of it 00:08:02.250 --> 00:08:04.870 like a grain silo. Commingled storage means your 00:08:04.870 --> 00:08:06.949 gold coins are mixed in with everyone else's. 00:08:07.189 --> 00:08:09.569 You own 50 coins, and when you sell, you get 00:08:09.569 --> 00:08:12.110 50 coins back, but not the exact ones you put 00:08:12.110 --> 00:08:14.209 in. Okay, so my weed is mixed with your weed. 00:08:14.490 --> 00:08:17.069 Exactly. Segregated storage means your assets 00:08:17.069 --> 00:08:19.310 are kept separate, in your own little box on 00:08:19.310 --> 00:08:21.589 your own shelf. The coins you bought are the 00:08:21.589 --> 00:08:24.050 exact ones you get back. Is one better than the 00:08:24.050 --> 00:08:26.839 other? Does it matter? For some people, segregated 00:08:26.839 --> 00:08:29.680 offers peace of mind, but commingled is often 00:08:29.680 --> 00:08:32.440 cheaper. The most important thing, though, is 00:08:32.440 --> 00:08:35.679 verifying the insurance. You have to know it's 00:08:35.679 --> 00:08:39.940 insured for full value in case of theft or disaster. 00:08:40.220 --> 00:08:43.220 That makes total sense. Now let's talk about 00:08:43.220 --> 00:08:46.600 the metal itself. Bullion versus coins. This 00:08:46.600 --> 00:08:48.419 feels like the part where people get upsold. 00:08:48.700 --> 00:08:51.159 You are absolutely right. This is the classic 00:08:51.159 --> 00:08:53.799 upsell area. So what's the difference? A bar 00:08:53.799 --> 00:08:56.600 versus a coin? It's all about how the value is 00:08:56.600 --> 00:09:00.019 calculated. Bullion bars, or ingots, is valued 00:09:00.019 --> 00:09:02.519 strictly by its weight and purity. Simple. It 00:09:02.519 --> 00:09:04.759 tracks the market price of gold. Simple is good. 00:09:05.360 --> 00:09:08.340 And coins? Coins can be much more complex. There 00:09:08.340 --> 00:09:10.240 are standard bullion coins like the American 00:09:10.240 --> 00:09:12.639 Gold Eagle. But then there are numismatic or 00:09:12.639 --> 00:09:14.559 collector coins. And that's where their value 00:09:14.559 --> 00:09:16.759 is based on rarity and design and things like 00:09:16.759 --> 00:09:19.019 that. Exactly. And the salesperson might make 00:09:19.019 --> 00:09:21.220 a higher commission on those rare coins. So they 00:09:21.220 --> 00:09:22.919 might sell you a rare coin for three thousand 00:09:22.919 --> 00:09:25.100 dollars, but the actual gold in it is only worth, 00:09:25.100 --> 00:09:28.559 say, fifteen hundred. Precisely. You're instantly 00:09:28.559 --> 00:09:31.039 underwater on your investment. You need the price 00:09:31.039 --> 00:09:33.740 of gold to double just to break even on the melt 00:09:33.740 --> 00:09:36.539 value. So the advice is to stick to the basics. 00:09:36.840 --> 00:09:39.960 Keep it boring. Boring makes money. Complex costs 00:09:39.960 --> 00:09:43.139 money. Unless you are a professional coin collector, 00:09:43.759 --> 00:09:46.960 stick to bullion. And remember, it's not just 00:09:46.960 --> 00:09:51.200 gold. A good company should offer silver, platinum, 00:09:51.659 --> 00:09:53.720 palladium, too. The source mentioned something 00:09:53.720 --> 00:09:56.259 specific about silver, didn't it? Yeah, that 00:09:56.259 --> 00:09:58.820 it tends to be more volatile. Higher highs and 00:09:58.820 --> 00:10:00.840 lower lows, as he puts it. It swings around more. 00:10:01.279 --> 00:10:03.139 A good partner will explain that difference to 00:10:03.139 --> 00:10:05.340 you. OK, so we've bought our boring bullion. 00:10:05.460 --> 00:10:07.080 It's in a vault. We didn't get ripped off on 00:10:07.080 --> 00:10:10.360 fees. Fast forward 15 years. I'm ready to retire. 00:10:10.519 --> 00:10:13.240 I need cash. This is phase four, the end game. 00:10:13.620 --> 00:10:15.620 And honestly, it's the most overlooked part of 00:10:15.620 --> 00:10:18.820 the whole thing. The buyback policy. Yes. Everyone 00:10:18.820 --> 00:10:21.340 focuses on buying. Nobody thinks about selling. 00:10:21.740 --> 00:10:24.659 Buying gold is easy. Selling it back. That can 00:10:24.659 --> 00:10:26.700 be much harder. You can't just walk into a pawn 00:10:26.700 --> 00:10:28.899 shop with your IRA gold. Definitely shouldn't. 00:10:28.960 --> 00:10:31.600 You'd get pennies on the dollar. You need to 00:10:31.600 --> 00:10:35.179 ask the company before you sign up about their 00:10:35.179 --> 00:10:37.779 track record for buying back metals. And what 00:10:37.779 --> 00:10:40.000 specifically should we be asking? You want to 00:10:40.000 --> 00:10:41.720 know if they have a guaranteed buyback program? 00:10:42.440 --> 00:10:43.940 You want to know if they buy back at the fair 00:10:43.940 --> 00:10:46.059 market price? And how quickly they can do it, 00:10:46.240 --> 00:10:49.320 right? Liquidity. Huge. If you need that money 00:10:49.320 --> 00:10:52.659 for an emergency, you don't want to hear, check 00:10:52.659 --> 00:10:55.240 back in a month. A buyback program is vital. 00:10:55.659 --> 00:10:57.879 You can't get stuck with a shiny rock when what 00:10:57.879 --> 00:11:00.700 you need is currency. Right. You can't buy groceries 00:11:00.700 --> 00:11:03.419 with a gold bar. You have to convert it. And 00:11:03.419 --> 00:11:05.659 the company is the gatekeeper of that conversion. 00:11:05.919 --> 00:11:08.039 So let's wrap this up and recap the checklist. 00:11:08.600 --> 00:11:11.259 This is the cheat sheet based on Doug Young's 00:11:11.259 --> 00:11:13.940 research. Number one, check the reputation on 00:11:13.940 --> 00:11:17.320 independent sites, BBB, BCA, TrustLink. Ignore 00:11:17.320 --> 00:11:20.379 the slick ads. Number two, watch the fees. Look 00:11:20.379 --> 00:11:22.720 for flat fees for the long run and ask about 00:11:22.720 --> 00:11:25.480 hidden costs. Number three, understand what you're 00:11:25.480 --> 00:11:28.480 buying. Bullying is simple. Rare coins are complex 00:11:28.480 --> 00:11:32.399 and can be an upsell. And number four, the exit 00:11:32.399 --> 00:11:35.590 strategy. Make sure they have a solid a fair 00:11:35.590 --> 00:11:37.789 buyback program so you can actually get your 00:11:37.789 --> 00:11:40.250 money out. And underlying all of that is the 00:11:40.250 --> 00:11:43.549 behavior test. If they're pushy or use fear tactics, 00:11:44.190 --> 00:11:46.389 just walk away. It really comes down to that 00:11:46.389 --> 00:11:48.970 ethical standard the source talks about. A good 00:11:48.970 --> 00:11:51.669 company puts your goals first. They should be 00:11:51.669 --> 00:11:54.509 a partner, not just a vendor. Someone on your 00:11:54.509 --> 00:11:56.730 side of the table. Before we go, I want to leave 00:11:56.730 --> 00:11:59.210 everyone with a thought. We talk a lot about 00:11:59.210 --> 00:12:02.730 control in finance these days. Crypto. Self -directed 00:12:02.730 --> 00:12:06.210 IRAs. Gold. It's all about taking control of 00:12:06.210 --> 00:12:08.169 your wealth. That's the driving force for sure. 00:12:08.309 --> 00:12:10.070 People want to be in the driver's seat. But here's 00:12:10.070 --> 00:12:12.610 the thing to chew on. Holding physical assets 00:12:12.610 --> 00:12:15.509 feels like you're taking control, sure, but that 00:12:15.509 --> 00:12:17.870 control is just an illusion if you don't understand 00:12:17.870 --> 00:12:20.009 the fine print of the company holding the keys 00:12:20.009 --> 00:12:22.470 to the vault. That's a powerful point. If you 00:12:22.470 --> 00:12:25.070 own the gold, but they own the process and they 00:12:25.070 --> 00:12:27.629 control the exit, you aren't as independent as 00:12:27.629 --> 00:12:30.389 you think. Exactly. So do your homework, check 00:12:30.389 --> 00:12:32.730 the list, and don't get blinded by the shine. 00:12:33.550 --> 00:12:36.070 Thanks for listening to this deep dive. Stay 00:12:36.070 --> 00:12:38.669 curious and stay skeptical. See you next time.