It's easy to lose patience with the stock market. You might think you're up one day to find that your investments are worth less the next. In time, you might even start to believe that the stock market isn't suitable for you and that you need something in place to provide a little stability while the market goes crazy.
For many, the best solution to the stock market's volatility is making use of a precious metals IRA. These products allow you to invest in gold and silver, feeling safe knowing that you can hedge at least some of your bets by directing part of your portfolio towards something other than volatile stocks.
Creating one of these accounts is a good idea for anyone who wants the tax advantages of an IRA but who also wants to have some of the stability that comes from investing in precious metals. These IRAs are a great middle-ground for those looking to build a safer retirement.
If you're looking to start or roll over your own IRA, you'll want to work with a company specializing in precious metals IRAs. There are more of these companies out there than you might think, but not all of them are worth your time.
Unfortunately, some of the precious metals IRA companies out there aren't great with customers. Some don't offer all the products you might want, and others just aren't equipped to help investors. The good news, though, is that a handful of companies out there are more than ready to help you get your IRA set up, who are capable, reputable, and professional.
Our researchers reviewed over a thousand companies and came up with the best five to see how they stack up against one another. Their findings are detailed below in the reviews of each company. With a bit of reading, you should be able to find the company that best suits your needs.
Don't make any investment decisions lightly. You need to know as much as possible about these companies, especially if you trust them with your money. The reviews below can help you discover a little more about each of these companies to see if they suit you.
Precious Metals IRA Company Reviews
As you prepare to choose your company, you'll want to start thinking about the qualities a company needs to have before you feel comfortable working with them. All the companies we have listed are great, but each has unique features that make them stand out more for some consumers than others.
Every consumer has different sticking points regarding how a company operates. Some need a company with plenty of experience, while others are about customer support. For some, the main thing is whether the company offers a wide range of products; for others, the biggest issue is fees.
Each of the criteria listed below is important to many groups of consumers. Which one matters the most is up to you, but it's good to at least have an idea of these criteria before you start the investment process.
Most people who invest in precious metal IRAs put significant money into these accounts. As such, they want to be sure that the company they work with actually knows what it is doing. For many, that comes down to knowing that the company has experience.
Experience matters because experienced companies can often give their customers better advice to help them in the future. The longer the company has been around, the more it is able to see and the deeper the well of knowledge from which its employees can pull when advising customers.
Working with an experienced company can also help you to feel comfortable knowing that the company understands what it is doing with your money. For many, knowing that the company has been competent for many years is enough to let them sleep more easily at night.
Reputation matters when you do business with any company. You wouldn't buy a car from a dealership with a bad reputation, after all, and you would never want to work with an investment company that isn't well-regarded. Fortunately, finding information about a company's reputation is often as easy as checking out review sites.
You shouldn't just look at consumer reviews, though. It's always a good idea to look at industry review sites like the Better Business Bureau and the Business Consumer Alliance to see how various companies are viewed. Both organizations post consumer complaints and resolve those complaints for public consumption.
Don't be afraid of a company just because you see a couple of negative comments. Almost every business has one or two customers that it just can't satisfy, after all. It's a trend that you should look for, not the outliers.
Your fundamental goal should be to see how the company resolves complaints. If the company goes out of its way to keep other customers happy, you can be relatively sure that it will do the same for you.
3. Support and Service
Most investors need a little help getting their accounts set up. Suppose you can work with a company that has great customer representatives. In that case, you'll be able to get your paperwork filled out correctly, get guided towards the suitable metals for your account, and feel more secure that your metals will end up in the kind of IRS-approved facilities in which they need to be stored.
Simply put, excellent customer service can make you feel more comfortable investing substantial money with a company you might never see in person.
It's important to remember that IRAs are long-term types of savings, so you'll be dealing with your IRA company for many years to come. If you cannot get along with them at first, you're setting yourself up for what might be potential decades of frustrating customer experiences.
If you want your experience with a company to go well, make sure you find one with great customer service. The more you enjoy working with them, the more you'll get out of your investments.
Every financial transaction comes with fees. It doesn't matter if you are paying your utilities online or investing in precious metals; you should expect to pay fees at some point. While you can't avoid fees entirely, it's important to ensure that the fees you pay are fair.
The fees that you might incur on an IRA can be substantial over time, so looking at saving money on fees is always a good idea. It's more important, though, that the fees make sense.
Think about management fees as an example. Every company charges them, but the management fees for all companies are not the same. Some charge less but do less with that money, while others might charge higher fees but include more in that annual fee. You should always do your best to determine where your money is going and how it will impact your investments.
The only way to figure out most fee information is to contact the company directly. Make sure to ask the rep to whom you speak about annual fees, storage fees, set-up fees, and any other costs that might be associated with an IRA. The more information you get up-front, you will be better prepared when you get your billing statements.
5. Product Selection
Many investors also want to know much about the metals they invest in. If investing in something like palladium or platinum is important to you, you'll want to ask specifically about those metals before you open an account. Likewise, asking about other products like cryptocurrency can help determine if a company can meet your investing needs.
Even if you're not worried about specific products, you should still see what the companies you like offer. Some have extensive catalogs of products, while others might have a more limited selection. What's important isn't necessarily that a company offers absolutely everything to their clients, but rather that the company provides the various products you wish to invest in.
So, which company gets the top billing?
As far as our research team is concerned, it has to be Goldco. Not only does the company work well for a wide range of investors, but it also does an excellent job of providing a more extraordinary customer experience and investment products.
This is one of the few companies that work well for everyone. Whether you are rolling over an account or setting up something new, Goldco is a good fit for most investors.
With a decade and a half of industry experience and a team that specializes in working with real customers, Goldco is simply a standout in the field of precious metals. This company does a fantastic job of meeting customers where they are.
Even apart from customer service, Goldco still stands out. Goldco has a great selection of metal coins and bars approved for investment by the IRS. The company even works to help ensure they match their customers with the products that will do the most for them.
If you're not looking forward to the setup process, Goldco also has you covered. The company handles the initial setup process and helps ensure that your metals get shipped to the proper vault. It's a great service from beginning to end.
Goldco even has those who are investing in non-IRA gold and silver covered. The company sells a great selection of non-IRA metals that are perfect for keeping at home or using as another investment type.
With all this in mind, it's not too surprising that our researchers have grown to love Goldco and that the company is at the top of our list of companies. What stands out the most is the thousands of five-star customer reviews, with more coming in every day.
9.6 / 10
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8.0 / 10