In the rush to attract new investors to the IRA market, IRA companies have been advertising their services by showing you how to invest your money with them goldco precious metals. However, there are many ways in which these companies can manipulate your investment decisions and rob you of your hard-earned wealth. If you are like most IRA holders today, you are probably investing because you are desperate for some additional income.
Choosing Gold IRA Companies
You are probably excited about the prospect of increasing your monthly retirement income by purchasing additional shares in the company you have held for years or perhaps you are considering the purchase of gold bullion or other types of investments you can make using your IRA funds.
Regardless of your personal motivation for investing, one thing is certain; if you are shopping for a way to increase your IRA funds and you happen to look at a few of the advertisements provided by these investment companies, you are going to get “bogged down” in the process.
Some of these companies will entice new gold investors by offering deals that seem too good to be true. For example, one company advertised that it could help you obtain an extra 20% yield on your investment by guaranteeing you a minimum return on your principal balance within a specific time frame.
In other words, if you were to deposit money into your IRA, they would guarantee you would receive a certain amount within that time period. Now, an extra 20% per year is not much, especially when we are talking about the ability to earn five or six figures from your precious metals investments. However, the company’s guarantee was, and still is, very risky for new gold investors.
There are also IRA companies that will offer you advice on how to manage your precious metal IRA, but all you are going to receive is the sales pitch. After all, why should you listen to what they are saying? After all, it’s your money they are trying to sell! As with any investment strategy, there are some golden rules you need to follow when choosing an IRA company to manage your gold investments.
Look for those that have a strong history of providing good customer service, and those that offer plenty of educational tools for you to use as you begin your investment journey. By educating yourself, you will become better equipped to make sound financial decisions, and ultimately increase your chances of profiting from your gold ira investments.