In this interview with TechBullion, Kirill Zagalsky, CEO of Advantage Gold shares some resources on how a gold IRA can protect your retirement. You will find some useful details and break down of what to know before you begin investing in precious metals and if it’s right for you. The topics discussed include; what a gold IRA is, why invest in gold and how to find IRS approved gold and silver.
Please tell us a little more about yourself?
I started in the financial industry right out of business school and became a licensed commodities broker dealing with futures and options in the energies and precious metals markets. I quickly moved up to being the youngest ever Vice President of my firm at the age of 26. After starting and selling my own Introducing Brokerage firm I moved to dealing solely with physical precious metals in 2011. I quickly recognized the advantage of physical assets over paper contracts and fell in love with precious metals. I co-founded Advantage Gold in 2014 and helped us grow to over $1 billion in sales over the last 8 years.
What is Advantage Gold’s specialty in the financial industry? Is it safe and secure to invest in precious metals through Advantage Gold?
Advantage Gold specializes in helping educate investors about physical precious metals. We are a listed dealer with the United States Mint, the Royal Canadian Mint, and the Perth Mint in Australia. We have the highest customer service ratings in the industry and an award winning IRA Department that helps our clients convert out of paper retirement assets into physical gold, silver, and platinum. We pride ourselves on long term relationships with our clients and customer satisfaction. Acquiring precious metals through Advantage Gold is quick, easy, and most importantly extremely safe and secure due to our strict compliance protocols and the fastest delivery times in the industry!
What is a Gold IRA and how does it differ from a traditional IRA? What are the benefits of owning gold versus other types of investments?
A Gold IRA is a retirement account that allows the owner to hold physical assets under the tax deferred umbrella of an individual retirement account. Although we are not tax advisors or financial advisers we believe that owning physical assets gives investors an incredible opportunity to protect themselves and their wealth with actual, real, physical property. Aside from this obvious benefit of diversification out of paper and into real assets, precious metals have also had incredibly strong performance since the turn of the century. Gold prices have out gained the major stock indices by a massive margin of 300%+ since the year 2000.
Why should I consider investing in gold as part of my retirement plan and how does investing in a gold IRA differ from traditional retirement plans?
Investing in precious metals is an individual decision and each person must evaluate their goals, risks and time frames appropriately before investing. Having said that, gold has simply been a better performing asset than most traditional paper investments for a long time. $100,000 invested in the S&P 500 Index in the year 2000 would be worth approximately $285,000 today ($480,000 if maximum dividends were reinvested) while that same $100,000 in gold coins would be worth approximately $680,000 today. Most people are simply unaware of this fact! And while the performance is great, I personally feel that the most important benefit of this investment is the fact that you have physical ownership of a real asset as opposed to paper investments reliant on various financial institutions.
How do I know if the precious metals in my Gold IRA are IRS-approved and how do I choose the right custodian for Gold IRA to ensure its safety and security?
The IRS has strict guidelines for quality, purity, and condition of the metals that are allowed inside of the IRA. Only brand new and uncirculated investment grade coins and bars are permitted for IRA storage. This makes the IRA option EXTREMELY attractive because it ensures that the metals you acquire are all of the highest quality and 100% investment grade. Once the metals are acquired for an IRA, they will be shipped to a storage facility of your choice. There are several IRS approved facilities to choose from and all the depositories are owned by private companies— nothing to do with the government. They are simply approved for storage of IRA precious metals due to their insurance and safety measures. Some of the most popular facilities are owned by Brinks and of course the largest facility of its kind is the Delaware Depository which operates several facilities across the country. It is completely up to you where you prefer your gold and silver to be stored but understand that the depository is one of the most important safeguards for your precious metals IRA because the metals are fully inspected upon arrival at the facility to ensure that they fit the IRS’s guidelines for quality, purity and condition. Also, your metals at the depository will have “all risk insurance” by Lloyds of London.
Can I roll over funds from an existing retirement account into a Gold IRA without penalty, how does this work, can you give us some use cases?
Yes! This is exactly what we specialize in. It is a simple and safe process. The first step is to set up a Self Directed IRA. These Self Directed IRAs are just like traditional paper IRAs or 401ks except they allow for a greater degree of freedom with your investments. For example, a Self Directed IRA allows you to own physical assets such as real estate and precious metals. Setting up a Self Directed IRA is quick and easy with Advantage Gold. We work with more than a dozen different custodians and our representatives can help you fill out the forms to set up an account. The next step in the process is for our award winning IRA Department to help you transfer the funds from your current paper retirement account into your newly established SDIRA. This process is completely tax free and you are not cashing out of your retirement; you are simply transferring funds over from your current paper plan into a new self directed account. Once the funds are transferred, you can then acquire physical precious metals that will be your property within your retirement account. Our representatives provide white-glove service and can hold your hand through the entire process. We offer the absolute best precious metals acquisition experience, but it is important to keep in mind that it is ultimately up to YOU to decide which metals you wish to acquire. We cannot do anything without your permission and guidance. This self directed account and all of your precious metals are 100% under your control.
How can owning a Gold IRA protect me against future economic recessions or market downturns, any success stories to share with us?
Past performance does not guarantee any sort of future results but historically gold has been considered a safe haven asset during times of economic uncertainty and instability. Gold has been a terrific hedge against inflation and stock market volatility and it has had an inverse relationship with the US dollar’s value. Looking at the economic and geopolitical landscape right now, we believe there has never been a better time to consider adding physical precious metals to your portfolio to guard against these threats. Gold has no counterparty risk and at a time when financial institutions are crumbling before our eyes this is not a benefit that can be overstated.
Is there a minimum or maximum amount required to open and maintain a Gold IRA account with Advantage Gold, could you give us a walkthrough of the platform?
At Advantage Gold we take a tremendous amount of care and effort to make sure that each client has a precious metals portfolio that is appropriate for their specific situation. Although the maintenance and storage fees are nominal when acquiring metals inside of a Self Directed IRA, each investor should carefully consider the options and costs associated with the investment. There are no maximums and we have had clients perform transactions with us well in the seven and eight figure range. We pride ourselves on catering our services to each client’s specific situation and needs and take great care to ascertain that the investment is appropriate for each individual investor.
What resources and support does Advantage Gold provide to educate and guide investors through the process of choosing a gold IRA investment strategy?
Our biggest strength and sense of pride lies in the communication of our representatives. We are proactively reaching out to all of our clients on a consistent basis to make sure that each client is well informed and up to date with their account and general economic conditions that may impact their precious metals holdings. We offer consistent customer service and support and all of our clients have 24/7 access to their statements and holding lists through our custodian partners’ online portals. We aim to be a one stop shop for all physical precious metal investors and have been routinely recognized by our clients and third party sources for being the absolute best precious metals dealer and Gold Ira account provider in the industry.
Do you have more information to share with us today on Gold IRA investing?
This is a fantastic time to be looking at adding precious metals to your portfolio. At Advantage Gold we start with education and help each investor understand the precious metals markets and become 100% comfortable with the steps that are involved in the acquisition process. We provide the absolute best education and value up front – before asking for your business! Request one of our informative guides and speak to one of our representatives today. With absolutely no pressure or obligation take this opportunity to learn about how precious metals can fit into your investment portfolio and once you determine that gold and silver are a good fit- let us prove to you that Advantage Gold deserves to earn your business.
For more information, visit: https://www.advantagegold.com/