Imagine a retirement future that is paved in gold,imagine retiring in the future not having to worry about the bills, the kids and just living out the rest of your days playing with your grandchildren. This is what investing in a precious metals ira is all about. It’s about laying the foundation for a rock solid future based on tried and tested assets that have proven themselves inflation-proof time and time again.
If you are considering opening up a precious metals IRA, your first step should be to evaluate the best precious metals IRA custodians that are in a position to manage your IRA with maximum efficiency. It is important to choose only the most reputed and reliable companies with the highest credentials in the industry. However, you need to review the history, market reputation, services offered, and business experience of such companies. In order to choose the right dealer to handle your IRA ,here is a checklist you won’t go without.
Ratings,Ratings and Ratings
As you probably know, one of the most foolproof ways of judging the trustworthiness of a company is to look at how it is ranked by the big rating agencies — Better Business Bureau (BBB), TrustLink, and Business Consumer Alliance (BCA). If you look at the ratings on these authority sites, you will see that there are many companies with top ratings from all three A+ from BBB, AAA from BCA and 5 stars from TrustLink. However, if you look at the customer’s testimonials in more detail, you will realize that these ratings don’t tell the whole story, so you can’t base your choice on these ratings and nothing else. Whether you’re funding your purchase with an IRA or you’ve got plans to purchase outright, there’s an element of trust involved in the relationship between you and your dealer. Social proof, that is professional reputation and customer word-of-mouth, goes a long way.
A Physical Address
A brick and mortar address gives you a sense of whether the company you’re dealing with is legitimate. It gives you something tangible to consider when you’re dealing with a business.
Variety
To a certain degree, finding a dealer is like dating with the intention of settling down. You don’t want to be “playing the field” after learning the hard way that your company doesn’t have everything you’re looking for.
Thoroughness
There’s nothing worse than purchasing a coin or bar only to discover that they’re the wrong ones or that you’ve been quoted the wrong price. Don’t settle for anything less than a company that’s serious about doing right by its clients.
Accessibility
In short, accessibility’s a sign that your dealer is likely safe to work with. It makes it easier for you to keep track of the transaction and to feel like you’re in control of what’s happening during every phase. Now that we’ve gone over the qualities that you want your precious metals firm to have, what are some definite signs that you should hire someone else?
Signs You Need to Keep Looking
Inaccessible Account Manager
Always busy and way too casual about returning your calls. Professionalism is an absolute must when it comes to financial transactions. If your account manager’s difficult to get a hold of, you may want to start exploring your options.
Overcharging
Many gold bullion coins and bars are priced according to the market value of the metal and it’s true that large quantities generally have a lower premium over the spot price of gold. Variation is to be expected but significantly higher prices could be a sign that the company doesn’t have your best interests at heart.
Questionable Premises
Is the dealer located in a seedy part of town? Does the company appear to lack physical assets? While not every company will be operating out of a skyscraper, an office building that’s falling apart doesn’t bode well for the long-term stability of your investment. This is especially true if you plan to make multiple purchases.
No Premises
If you’ve got nothing but a private phone number or a contact form to work with, that’s a huge red flag. As was touched on earlier, accessibility is the key here. Purposeful attempts to obfuscate could mean that your dealer has something to hide.
Pushiness
Hard sells, constant sells, and people making you feel guilty for not buying. It’s important to remember that as the customer, you’re supposed to be in charge. A company that pushes you into making purchases before you’re ready isn’t one that has your best interests at heart. Much of how to choose the best precious metals ira company depends on you. What you want and need may differ from what your co-worker’s searching for.
A Final Word
As with any type of retirement accounts, you will have the pros and cons. If you decide on which precious metals IRA company is right for you, then you will be ahead of the game, and ready to breathe a little bit easier. Once you find the right specialist to manage your money, you will be well on your way to a rewarding retirement.
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