If you’re looking to diversify your retirement portfolio with a tangible asset that has stood the test of time, consider converting your traditional or Roth IRA to gold. A gold IRA allows you to add precious metals to your investment strategy, and can help protect against inflation, which is a common concern for investors. However, before you decide to convert your IRA to gold, there are a few things you should know.

First and foremost, the process of converting your IRA to gold is not as complicated as it sounds. It can be done either through a rollover or a transfer, which will be handled by your IRA custodian. The next step is to choose which physical precious metals you would like to purchase, and your IRA custodian will handle the rest of the paperwork for you. Once the purchase is complete, your metals will be stored in an IRS-approved depository until you are ready to liquidate them or take required distributions.

Before deciding whether or not to convert your IRA to gold, it is important to consider your investment goals, risk tolerance and overall financial situation. If stability, diversification and protection from inflation are key to your investing strategy, then a gold IRA might be the right choice for you. However, if you are interested in growth and are comfortable with some risk, then it might be better to keep your funds in your current IRA.

Regardless of your investment goals, it is essential to find a reputable precious metals IRA company that will provide you with high-quality products and excellent customer service. In addition to ensuring that your investments are IRS-compliant and tax-free, they should also be able to handle the bulk of the paperwork for you, making the process as seamless and easy as possible. In addition, they should be able to offer you a wide range of options when it comes to physical precious metals, as well as provide you with detailed education about the benefits and risks of investing in gold. Hence before converting, you better learn how to convert to gold before proceeding.

One of the top-rated precious metals IRA companies is Augusta Precious Metals, which offers a quick and streamlined system to help you convert your IRA to gold. Its team of experts handles approximately 95% of the paperwork, and ensures a smooth and seamless process that adheres to all applicable IRS regulations. Additionally, they offer a variety of different physical precious metals that can be purchased, including gold coins and bullion. They are also known for providing excellent educational resources and transparent customer support. For more information, visit their website today. This article is not intended to provide financial advice, and should only be used as a general guide. Please consult with a qualified financial advisor before making any investment decisions. Entrepreneur may receive a referral fee from some of the companies mentioned in this article. This content is produced independently of Entrepreneur’s editorial departments.