Can I use a gold IRA to move my precious metals offshore?

Written by Andrew Henderson

Dateline: Belgrade, Serbia

“Gold is money. Everything else is credit.”

Those were J.P. Morgan’s remarks to the US Congress in 1912.

What happens if you have a nest egg built up in in an IRA or 401(k), but your investment options are limited to mutual funds that contain little upside and a lot of risk?

Keeping your money in US dollars is not an option. Inflation will eat them away.

And they happen to know a little something about inflation here in the former Yugoslavia.

But a gold IRA is an option, if you want to want to move to a stable asset- in a more stable part of the world, away from the volatile USSA.

Having your investments in a traditional IRA is a risky proposition. As the government continues to flounder in debt, they will devise all kinds of plans to get at your money. IRAs and 401(k)’s are definitely not on the safe list.

Now the government is not just going to reach in and steal the funds from  your retirement account. There will be a big propaganda campaign surrounding it. They may say they are replacing your funds with annuity bonds.

The problem is, as the money printing presses get cranked up to full speed, the value of your savings will dwindle quickly.

They will use all kinds of meaningless buzzwords to make this sound like a good deal for citizens, and you will be praised for being “patriotic” in the process. If the so-called leaders sense that people aren’t buying it, they will bring in celebrities to endorse the plan.

Of course these grimy politicians will use all their usual dirty tricks to sell the plan, like saying this will “only affect the top 5%”. It’s just as I say… “the rich” starts out in one place, then… slowly… moves… to effect…

…everyone.

If you live in the United States, and are thinking, “this will never happen here!”, keep reading.

The MF Global collapse back in 2011 illustrates perfectly how it already is happening here. Some think the MF Global collapse is the tip of the iceberg, and the bigger ramifications are that the entire financial system may be utterly destroyed.

Last year, California’s Franchise Tax Gestapo implemented a retroactive tax that had small businesses fuming- but ultimately, without recourse.

I personally had nearly $2000 taken out of my account by these criminals, with no due process. And I paid ALL the taxes they said I owed, but didn’t.

With all that is going on in the USSA, retirement accounts are not something you want to leave to the whims of gangters and banksters.

Moving your IRA funds into safety with gold or silver is step one, and step two is getting them offshore and out of reach of the thieves at home.

The Gold IRA is essentially an individual retirement account where you are able to invest in gold and precious metals, as opposed to traditional plans which limit you to stocks and sometimes ETFs. This kind of IRA holds gold bars or coins instead of paper. To move to a gold IRA, you must go through the rollover process, which is a tax-free event with the IRS.

The taxpayer relief act of 1997 states that “your IRA can invest in one, one-half, one-quarter, or one-tenth ounce U.S. gold coins, or one-ounce silver coins minted by the Treasury Department. Beginning in 1998, your IRA can invest in certain platinum coins and certain gold, silver, palladium, and platinum bullion.”

Just what are the advantages of such an IRA?

First, it’s a hedge against inflation.

It also helps protect your wealth and purchasing power protection against a sinking dollar.

Not to mention Growth potential vs. deterioration; and, since it’s self-directed, so you have much more control over funds than say, a Roth IRA.

By owning gold in your IRA, you are no longer subject to risks of margin calls, failing companies, or bankruptcies. It also provides you protection from banking crises and geopolitical volatility.

Here’s a run down of the types of gold IRAs available:

Traditional GOLD and Silver IRA
An arrangement that allows earnings and deductible contributions to grow tax-deferred. No income taxes are paid on the earnings and deductible contributions until withdrawals are made.

-You can easily transfer an existing Traditional IRA to a Traditional gold IRA with no penalties or taxes.

Roth GOLD and Silver IRA
A plan that allows earnings and deductible contributions to grow, tax-free. All of the tax benefits associated with a Roth IRA happen when withdrawals are made: withdrawals, subject to certain rules, are not taxed at all. There are no tax benefits associated with contributions because all contributions to a Roth IRA are made with after-tax funds.

-Individuals can transfer an existing Roth IRA to a Gold Roth IRA with no penalties or taxes.

SEP GOLD and Silver IRA

A Simplified Employee Pension Individual Retirement Account is a variation of the Individual Retirement Account. The gold SEP-IRA really is “simple” (Even more so than the SIMPLE IRA). There are no administration costs if you are self-employed and don’t have any employees. If you do have employees, all employees must receive the same benefits under a SEP plan. Since SEP accounts are treated as IRAs, funds can be invested the same way as any other IRA.

SELF DIRECTED Gold and Silver IRA

These are the most flexible plans. A Self-Directed Individual Retirement Account is an IRA that requires the account owner to make investment decisions and investments on behalf of the retirement plan. IRS regulations require that either a qualified trustee, or custodian hold the IRA assets on behalf of the IRA owner.

401K, 403B Plans

An employer-sponsored retirement plan that allows employees to save for retirement while deferring income taxes on the earnings until withdrawal.  Individuals may, in some cases, convert a 401(k) savings plan into a gold IRA. If you have a 401K from a previous employer it is easy to roll these funds into a IRA tax free.    

To find out more about how to set up a gold IRA, apply for a Strategy Call so we can determine your best options as part of a personalized and completely legal offshore plan.

Andrew Henderson
Last updated: Dec 29, 2019 at 5:00AM

Start Your Offshore Journey Today

The Nomad Capitalist team has helped hundreds of people create and execute prolific offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of success

Start Your Offshore Journey Today

The Nomad Capitalist team has helped hundreds of people create and execute prolific offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of successWould you like to be next?

Get Our Latest Offshore Strategies

Join our email list and we’ll send our best articles, videos and exclusive content right to your inbox. 

Its Free.

Read this next..

0 Comments