gold/PMs in an IRA

Login or register to post comments 1591 reads   1 posts
  • Wed, May 29, 2013 - 07:03pm

    #1
    unadilla

    unadilla

    Status Member (Offline)

    Joined: Feb 16 2009

    Posts: 1

    count placeholder0

    gold/PMs in an IRA

First time posting on PP here, and not exactly sure if this belongs in the 'investing' group or in the 'gold' group…  I'll try here first!

I've been thinking about buying gold/PMs for several years now, but I'm only now getting around to doing the research on it.  I stopped funding my IRA a couple years ago, partly because my income has dropped considerably since the 'collapse' of 2008-09, and partly because I, like most here, neither trust nor particularly want to 'support' the current system.  The majority of money I have in my IRAs (I've got two- one a regular, and one a SEP) is in cash/MM, as I don't have confidence in the market, or in my ability to play it- so I've been doing some research on buying gold or PMs with the IRA.*  I don't particularly like the idea of buying gold/PMs through an IRA custodian and having no real practical access to it, and my research is suggesting that there are ways to set up an IRA LLC which would allow me to hold approved gold/PM coins in a safety deposit box at my local bank.  I find this to be a very appealing possibility, allowing me to preserve some of my already accumulated wealth in gold/PMs, and in a location I can access should a real crisis arise.  Can anyone advise if this is in fact correct?  Anyone here set something like this up?  I'm finding some websites of financial service companies offering to set such a thing up, but the fees seem a bit steep (at least for me- I don't have huge amounts in my IRAs).  Any advice/experience appreciated.  Thanks!

* Just to head-off a discussion that gets way off-topic (and as a partial introduction, I guess):  I already have owned-outright property and am actively engaged in permaculture development of the property, investing in community, personal skills/resiliency, etc. 

Viewing 1 post (of 1 total)

Login or Register to post comments