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Has anyone ever used 401k money to purchase PMs?
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<p>[QUOTE="desertgem, post: 2345904, member: 15199"]If you mean to purchase and hold gold within your IRA account, you need to get legal governmental regulations for such and read them. I have, and I have also read the 'blurbs' that the various bullion companies issue to tell you how good it is ( for them).</p><p><br /></p><p>It is a custodial account, they purchase ( you can't add your currently owned gold) with fees they disclose someplace in the paperwork. The time period between agreement and actual purchase of metal for you may vary ( don't expect it to be at todays close). Also they do not have to return the metal if you close it out, they can close with cash/check for value if they wish. Also, They store it ( fees) and it may take a long time to release it and ship ( fees) it to you by bullion transport. In a zombie invasion, you will never get it in time <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> They will be worse than a local SDB for sure. Get a tax professional to work with you or read a lot ( Not from the bullion firms). If you do go with a bullion affiliated custodian, read and re-read their documents.[/QUOTE]</p><p><br /></p>
[QUOTE="desertgem, post: 2345904, member: 15199"]If you mean to purchase and hold gold within your IRA account, you need to get legal governmental regulations for such and read them. I have, and I have also read the 'blurbs' that the various bullion companies issue to tell you how good it is ( for them). It is a custodial account, they purchase ( you can't add your currently owned gold) with fees they disclose someplace in the paperwork. The time period between agreement and actual purchase of metal for you may vary ( don't expect it to be at todays close). Also they do not have to return the metal if you close it out, they can close with cash/check for value if they wish. Also, They store it ( fees) and it may take a long time to release it and ship ( fees) it to you by bullion transport. In a zombie invasion, you will never get it in time :) They will be worse than a local SDB for sure. Get a tax professional to work with you or read a lot ( Not from the bullion firms). If you do go with a bullion affiliated custodian, read and re-read their documents.[/QUOTE]
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