Can I buy Gold with my 401K - Satori Traders

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Discover how American investors are safeguarding and securing their retirement savings with physical Precious metals

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Inflation is rising in America just like it did in the 1970s

Even the US Fed is acknowledging that “transitory” Inflation is going to be more persistent than expected

Concerned investors are hedging their retirement savings with physical Precious metals
Gold price vs Inflation

From 1963 to 1980, the price of Gold increased by 1600% and Silver prices increased by 2700%

Smart investors today are seeking a hedge from Inflation and asking these questions:

Can I buy Gold with my 401K?
Can I buy Silver with my 401K?

The answer is a resounding, “Yes!”

You CAN use 401K funds to safeguard and protect your retirement savings with physical Precious metals

Can I use my IRA to buy Gold?
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An IRA or SEP-IRA can be used to buy Gold

In fact, all of these tax-advantaged retirement savings accounts can be transferred into a Precious metals IRA:

IRA, SEP-IRA, 401K, 403b, 457, TSP, annuities, pension plans

Roll over 401k to Precious metals
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The requirement for moving a 401K to Gold without penalty is that you are no longer working for the employer who provided the 401K

401K accounts that are active with a current employer are not eligible for a Gold IRA rollover

The only way to use funds from an active 401K for the purchase of physical Precious metals is to take a loan against the 401K and buy the metal privately (outside any tax-advantaged savings account)

There’s a simple 4-step process for opening a Precious metals IRA

1. Open a self-directed IRA account with an IRS-approved Trustee
2. Fund the account
3. Choose a Custodian to hold the physical Precious metals, and
4. Pick which metals to hold in the account

The account can be funded with either a Rollover or a Transfer

How to move 401k to Gold without penalty
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There are two ways to move 401K funds into physical Gold without incurring any tax consequences or penalties

The best method is a Rollover since it involves zero risk

Performing an account Transfer is the other option but it involves a distribution of funds which could trigger tax penalties and consequences if the Transfer isn’t completed within 60 days

Gold IRA tax rules
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~ Rollover ~
When a 401K account is rolled-over the funds are wired from the 401K Trustee to the Gold IRA Trustee

The investor never receives any money so no distribution occurs and that means there is no risk of penalties or other tax consequences

~ Transfer ~
During an account transfer funds are distributed from the 401K to the investor

The investor has 60 days to deposit the funds into the Gold IRA account

If the transfer is not completed within 60 days the IRS will do two things:

1. assess a 10% early withdrawal penalty on investors who are under 59 ½ years of age
2. treat the distribution as regular income for tax purposes

Benefits of Gold IRA
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Investors seek the protection of Precious metals when they feel anxiety about their existing financial situation

Many Americans are becoming uncomfortable about overextended stock markets and transitory Inflation becoming permanent

They are diversifying their retirement funds into physical Gold and Silver as a way to hedge against both financial risk and Inflation

How to buy Gold
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When we talk about “buying Gold” we have to differentiate between physical Gold the metal and any derivative form of Gold

An American Gold Eagle Coin held in an investor’s hand is clearly physical metal while shares in GLD are clearly NOT physical Gold (although this ETF claims to back all their shares with physical Gold)

Ideally an investor holds some physical Gold in their personal possession, or readily accessible (e.g., buried in the garden)

The second choice for holding physical Silver and Gold involves personal possession but the metal is stored remotely (the investor has to travel to the location where the metal is stored)

The final way to own physical Gold is through a third-party arrangement like a Gold IRA or Gold Ownership Certificate Program

Third-party arrangements are required for Gold IRAs and they may be desirable for investors who want to own more Gold than they can store locally

Gold IRA reviews
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Listed below are the best resources for finding Gold IRA reviews:

Better Business Bureau (BBB)
Consumer Affairs
Google Reviews
TrustLink
Trustpilot

These websites gather customer reviews as a service to consumers

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Related topics
can i buy Silver with my 401k
benefits of Gold IRA
how to buy Gold
Gold IRA reviews
Gold IRA tax rules
roll over 401k to Precious metals