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Investing for retirement starts with figuring out the right amount to save and where to invest. The amount you need to save depends on your age and retirement goals. If you're younger, you can start with a smaller percentage of your income, say, 10-15%.
As your career progresses and income increases, so should your contributions toward retirement savings. If you're older, saving as much as possible is essential.
There are two main retirement saving options: an employer-sponsored plan and an individual retirement account (IRA). An employer-sponsored plan, such as a 401(k) or 403(b), allows you to make pre-tax contributions from your salary, which can help reduce your taxable income.
An IRA allows you to save post-tax dollars and offers more flexibility in investments and withdrawals. With IRA, you can diversify your investment portfolio and choose from stocks, bonds, and other assets, including precious metals like gold and silver.
Investing in gold or silver can provide a hedge against inflation, as the value of precious metals tends to increase when inflation rises. With gold and silver, there is an added layer of security.
These metals are tangible assets with a long track record of preserving wealth and are seen as safe havens in times of economic uncertainty. You can invest in physical gold and silver or in gold and silver ETFs (exchange-traded funds).
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Read the list to see if Priority Gold passed our strict customer service standards to become one of our top recommendations.
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You need a legitimate investment company to help you manage your gold and silver investments. Many companies offer such services, and Priority Gold is one of them. Is Priority Gold a safe and trustworthy dealer?
This review aims to provide an in-depth look at the company, its services, fees, and customer reviews.
About Priority Gold
Priority Gold is a precious metals investment company based in California specializing in gold and silver investments.
The company has been operating since 2015 and serves customers across the United States. Priority Gold is a Better Business Bureau (BBB) member with an A+ rating and an SSL-secured website.
The company offers gold and silver as the two main investment options. Its catalog of products includes gold and silver bullion coins, rare coins, and a 10oz silver bar. It does not offer platinum or palladium investments.
Additionally, all its products are IRA-verified and eligible for self-directed retirement accounts such as Traditional IRAs, Roth IRAs, and SEP IRAs.
The company also offers IRA accounts that diversify your portfolio with precious physical metals. It also provides investment advice and portfolio management services. These services include asset allocation, tax-loss harvesting, and retirement planning.
The account setup is easy, and the company provides a step-by-step guide to help you get started. It also offers a free online IRA guide, blog, and glossary to help customers understand the investment process.
Its website is user-friendly and answers common questions about the company's services. Priority Gold experts help customers select suitable investments and provide guidance on the best strategies for retirement saving.
Priority Gold offers excellent customer service, and its representatives are knowledgeable and friendly. They show genuine interest in customer satisfaction and are always willing to answer questions. They portray professional conduct and high ethical standards.
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Products and Services
Priority Gold provides gold and silver, a 10oz silver bar, and rare coins approved for IRA accounts. Its products are competitively priced, and the company offers large order discounts.
The company gives free shipping and insurance for one year for cash purchases of precious metals over $10,000. Additionally, it caters to storage and administration fees for rollover above $50,000 into the IRA for a year.
The company offers investment advice and portfolio management services. These include asset allocation, tax-loss harvesting, and retirement planning. The company also offers a Gold IRA Starter Program to help customers navigate setting up an IRA account. All of these services are provided free of charge.
Examples of gold and silver coin options available at Priority Gold include:
Why Invest in Precious Metal IRAs?
Precious metal IRAs are an excellent option for diversifying their retirement portfolios. They offer a way to protect your savings from inflation, market volatility, and economic downturns. The IRS allows you to use gold and silver coins and bullion bars in precious metal IRA accounts.
If you want to learn more about the IRS requirements for these accounts, be sure to read our article on precious metals IRA rules.
Gold and silver have been used as currency for thousands of years due to their inherent value. Precious metals are scarce commodities that increase in value over time, making them an excellent investment choice for long-term investors. Gold is especially sought after during economic uncertainty as it is a safe haven asset.
Additionally, the tax advantages of precious metal IRAs make them an attractive option for retirement savings. This has many investors wondering how to move a 401k to gold without a penalty.
Well, contributions to a Precious Metal IRA are tax-deductible, and profits from selling investments within the account are not subject to capital gains taxes. These two factors can help you save more for your retirement.
IRA Account Setting
Setting up an IRA account follows four simple steps.
a. Open Account
You can open an individual or joint account with Priority Gold. During this step, you provide basic information such as your name, address, and Social Security Number.
b. Determine Beneficiary
The beneficiary is the person who will receive the assets in your account after you pass away. You can designate one or more beneficiaries.
c. Fund Your Account
You can fund your IRA account with cash, a rollover, or a transfer of assets from another retirement plan. Priority Gold also offers custodial services to help you complete the process.
d. Purchase Precious Metals
Once your account is open, you can purchase gold and silver coins, bars, or rare coins that meet the IRS requirements for an IRA. You can make purchases or sell assets in your account at any time.
Custodian and Storage Options
Priority Gold partners with Preferred Trust Company, a reliable gold IRA custodian, to provide custodial services for its IRA accounts. Preferred Trust Company is an independent, certified Retail Trust Company founded in 2007 and headquartered in Las Vegas.
All its products are IRA-verified and eligible for self-directed retirement accounts such as Traditional IRAs, Roth IRAs, and SEP IRAs.
Preferred Trust Company adheres to all IRS regulations and provides secure storage for your precious metals. It offers segregated, allocated, and unallocated storage solutions with various depository partners across the United States. However, Priority Gold does not mention specific depository partner names.
Customers report positive experiences with Priority Gold's services. They appreciate the company's competitive pricing, free shipping, and insurance on larger orders.
Customers also praise the company's knowledgeable staff and excellent customer service. Many customers consider Priority Gold to be a reliable choice for self-directed IRAs.
The company's A+ ratings on BBB and AAA ratings on BCA. TrustPilot and Yelp demonstrate their commitment to customer satisfaction. TrustLink gives Priority Gold 5 star rating due to its high ethical standards and professional conduct.
Pros & Cons of Priority Gold
Reason to use
Reason to not use
Is Priority Gold a Scam?
Priority Gold is not a scam. It is a legitimate company that provides self-directed IRA services and precious metal investments.
The company has an A+ rating from the Better Business Bureau, which indicates that it is trustworthy. The company also has AAA ratings from the Business Consumer Alliance and 5-Star ratings from TrustLink.
Priority Gold is accredited by Numismatic Guaranty Corporation and Professional Coin Grading Service, providing independent third-party grading services for coins. This indicates that the company follows industry standards and is committed to providing quality products.
The company partners with Preferred Trust Company for custodial services, an independent, certified Retail Trust Company. Preferred Trust Company is a trusted and reliable custodian and adheres to all IRS regulations.
Besides, customers report positive experiences with the company and appreciate its competitive pricing, free shipping and insurance on larger orders, knowledgeable staff, excellent customer service, and reliable custodial services. They consider Priority Gold to be a reliable choice for self-directed IRAs.
Priority Gold is a reputable company offering a range of self-directed IRA services. It has good ratings from customer reviews and independent third-party sources, which indicate that it is a trustworthy and reliable company.
Most customers are satisfied with the competitive pricing, free shipping, and insurance on larger orders, as well as its knowledgeable staff and excellent customer service.
While the company offers a limited selection of precious metals and lacks live chat, it is a reliable choice for those looking to set up or roll over an IRA account.
It follows industry standards and provides secure storage solutions with depository partners across the United States. The company's ratings, reviews, and accreditation ensure that it is safe for anyone considering investing in self-directed IRAs through Priority Gold.
Remember to read out list of the Top Gold Companies to see if Priority Gold made the cut.
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