TD Ameritrade Gold IRA Review

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In today's volatile financial landscape, many American workers are increasingly concerned about securing a comfortable retirement.

A growing number of investors are seeking stability by turning to precious metals, recognizing them as a reliable means to safeguard their financial future and enhance their retirement years.

Precious metals offer a robust hedge against inflation and remain unaffected by fluctuations in the value of the US dollar.

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 TD Ameritrade passed our strict customer service standards to become one of our top recommendations.

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About TD Ameritrade Gold IRA

For many investors, a 401(k) and Social Security aren’t enough to sustain their preferred lifestyle, and if they don’t seek out other retirement investments, these individuals may face financial hardships after they stop working.

TD Ameritrade Gold IRA Review - Logo

A better opportunity is to create a self-directed gold IRA and contribute to the account each year. To start the account, the investors need a custodian somewhere to store their precious metals and purchase them through a qualified gold dealer. 

TD Ameritrade offers a gold IRA program that has shown promising results for investors throughout the years. Investors make sound decisions about their future by reviewing their gold IRA and essential details about gold IRAs.

Company History and Ratings

TD Ameritrade was opened in 1975 in Omaha, Nebraska. The company offers financial advisory services and consulting for IRAs, investments, and trading opportunities. Customers can discuss their needs in person at the physical location or via phone with a financial advisor.

Review Companies

The Better Business Bureau doesn’t accredit the company but has a customer rating of 1.13 stars on the BBB. As of 2023, there have been 459 customer complaints within the last three years, with 124 complaints over the previous twelve months.

While the company doesn’t sell precious metals, the consultants and advisors can act as IRS-approved custodians to open a gold IRA for saving for retirement. They can also advise tracking its value and decisions for future contributions and distributions and adding other assets into the IRA to diversify the investor’s investment portfolio.

Understanding the Types of Gold IRAs

When setting up a gold IRA, investors must choose between a traditional or ROTH account. A traditional IRA is funded through an existing traditional IRA, such as an employer-matched 401(k) plan in which the contributions are tax-deferred.

The funds transfer to the original IRA through the account holder’s employer, and payroll deducts the contributions from the worker’s wages before income taxes apply. When the account holder withdraws the funds at 65, they pay taxes on the funds since they are considered income.

A ROTH account consists of capital that was taxed already. The account holder sets up a ROTH account with their savings and other money they have on hand. If they roll over these funds into their gold IRA, they do not pay taxes on any distributions they receive during retirement.

When creating the account, the investor chooses a product type based on how they intend to fund it. This factor dictates what gold IRA they open through TD Ameritrade. Regardless of how they fund the gold IRA, the investor must hire an IRS-approved custodian to create, manage, and maintain their IRA. TD Ameritrade can act as their custodian for the account.

Creating a Gold IRA

To open a self-directed IRA account, the investor must contact TD Ameritrade and create an account. When creating their account, they can access a user account via the company’s website to track their investments.

Their custodian prepares all the paperwork for the gold IRA and is a liaison between the client and their existing IRA provider. For conventional IRAs, the funds transfer to the custodian, and for ROTH accounts, the custodian completes a rollover to deposit the funds into the IRA account.

Next, the investor informs the custodian where they want to buy their precious metals, what metals they want, and the quantity of the metals.

Before investors choose a gold company, they must determine if it has a good reputation, customer complaints, and high-quality precious metals.

They should also inquire about minimum purchase requirements. Getting these details before starting the funds transfer is wise since they can only make one initial withdrawal from their existing IRA account and have a 60-day deadline for depositing the funds into the new IRA.

Under the circumstances, unforeseen delays could lead to penalties for missing this deadline, and the investor faces early withdrawal and tax penalties.

After the investor decides, the custodian sends the funds to the gold company to complete the precious metals transaction. Once the gold company receives the payment, they ship the precious metals to the investor’s preferred depository. The custodian gets notifications for the shipment’s arrival and a receipt for the purchase.

The precious metals must remain in the depository until the account holder receives distributions at 65 during retirement. Their custodian must file reports with the IRS annually, or any time there is a change in the account or its balance.

Custodians and Depositories

While TD Ameritrade acts as the investor’s custodian, the client isn’t required to use the company’s preferred depository. Investors can store their precious metals anywhere in the US or the Cayman Islands.

Researching depositories and related fees prepares investors for the venture and prevents any surprise costs later. Investors can examine these costs to determine which depository is most appropriate for storing their precious metals.

TD Ameritrade Gold IRA Review - custodians

Top 3 Companies Choosing Over TD Ameritrade

When setting up a gold IRA, the investor must choose a precious metals dealer to provide high-quality products that meet all IRS requirements. Reviewing these three gold dealers could offer the correct information for investors to make a solid decision.

Our Top Pick - Unmatched Customer Service

Goldco

Goldco opened up for business over a decade ago in Los Angeles, California, and has seen provided phone and online precious metals sales for gold IRAs and for anyone wanting to buy the metals separately.

The company has maintained a 5-star rating on the Better Business Bureau, Google, Trustlink, and Trustpilot, and several celebrities, including Sean Hannity, endorse it. The organization provides precious metals at an affordable price and has a buyback opportunity.

American Hartford Gold

American Hartford Gold has provided many precious metals in Los Angeles, California, since 2015. There isn’t a minimum investment for IRAs or separate precious metals purchases. 

Investors can use any custodians or depositories they prefer when setting up a gold IRA through the company. Bill O’Reilly also endorses this gold seller.

Augusta Precious Metals

Augusta Precious Metals got started in 2012 and has two California locations. The business provides IRA-approved precious metals and other selections for collectors and investors.

They have plenty of positive customer reviews, and the company doesn’t have a minimum purchase amount. Customers can also get a price lock to avoid increases before final transactions.

Contributions to the Gold IRA

After setting up the gold IRA, the investor can start contributions to increase its value. According to the IRS regulations and tax codes, investors 59 and younger can contribute up to $6,500 as of 2023. If they are 60 or older, they can contribute up to $7,000. Investors must remember that this limit applies to all IRA funds and cannot exceed this restriction in any given tax season.

If they choose a traditional IRA, they can deduct their IRA contributions on their tax returns according to how much they add to the account. Whenever the account holder wants to add more precious metals to the IRA, they must contact their custodian to arrange the purchase. The custodian follows the same steps for new additions as they did when opening the account.

Investors should keep in mind that they can add different types of precious metals to the IRA, and they have options for adding tangible assets such as artwork, antiques, and real estate. They should understand that the type of IRA they open determines how taxes are calculated.

For example, if they want to add real estate or high-valued assets to the account, a ROTH account could present more benefits since the funds were taxed already. With ROTH accounts, there aren’t any capital gains taxes, and the investor generates money without worrying about tax implications when selling other assets in the IRA.

Receiving Distributions from the Gold IRA

With a ROTH IRA, the account holder isn’t required to receive any distributions even if they are 72. With a traditional gold IRA, the account holder must set up distributions at least by the age of 72, or their custodian must set up the payments or liquidate the account according to IRS regulations.

When setting up distributions, the custodian helps the investor determine what they can afford in taxes and how much they need each year to achieve their preferred lifestyle during retirement.

When coordinating distributions, the custodian sells the precious metals according to how much the owner wants to receive annually. If they have a traditional IRA, they shouldn’t liquidate the entire account since they will pay more in taxes and must pay these taxes in the tax season they receive the money.

However, with a ROTH account, the account holder could liquidate all assets in the IRA when they retire without any tax implications. How much they receive is up to them. They can get monthly payments from the IRA or choose a lump sum.

When getting distributions from the gold IRA, the investor must remember that the current market value of gold and other precious metals affects how much they receive, and how well the metals are selling on the market determines how long it takes to sell them. The custodian must find a buyer for the metals when the account holder is ready to get distributions.

When creating the gold IRA, the account holder must choose a beneficiary to receive the account if they don’t use all the funds before they die. The custodian sets up conditions for creating an inherited gold IRA, and the beneficiary must set up distributions within five years of the account holder’s death.

If they don’t, the custodian must liquidate the account and send the money to the heir. If it’s a traditional IRA, they must pay income taxes, but if it is a ROTH account, the heir is tax-exempt. Heirs do not have to pay inheritance taxes on IRA distributions.

Estate Planning Opportunities

Even if the investor sets up documents for creating an inherited gold IRA, they can also create a trust when estate planning. They can transfer their gold IRA into the trust to prevent it from going through probate, and the financial asset isn’t within reach for creditors hoping to seize assets to settle outstanding balances.

In a trust, the account holder can set up a successor to control the IRA and other assets transferred into the trust. Instead of providing assets through a will alone, the trust offers more asset protection for the owner and their family.

Through the trust, the heir can receive distributions or liquidate the IRA and keep the funds within the trust. They must pay taxes through the trust if the funds used for the IRA weren’t taxed previously.

However, if the account holder wants to share their IRA funds with more than one heir, the trust provides more benefits than a will alone, and the action eliminates inheritance taxes for the heirs. In the trust documents, the owner can add more than one successor or beneficiary in case any of the listed beneficiaries that appear in the IRA forms die before they gain access to the account or trust.

Personal Finance Tools

On the TD Ameritrade website, investors can find many financial tools to help them make new investors, track their accounts, or generate data for upcoming ventures. As they review their options, the investor can also get advice from financial advisors through the company. 

After they create an account with the company, they have access to a user account on the website that shows updated information about their gold IRA. They can evaluate the data to determine the best time to add more precious metals to their IRA or purchase them separately to store outside an IRA.

News About New Investment Opportunities

TD Ameritrade has a “News” tab that provides the latest information about trading stocks, bonds, precious metals, commodities, and futures. Many investors are considering gold futures as an additional investment. However, there are risks involved in these investments.

By reviewing the new articles, the trader can determine what opportunities are the soundest and could present them with a return on their investment before committing.

Investors new to gold, silver, and platinum investments can find information about how to start. The advice could prevent them from making serious mistakes that lead to losses or financial hardships. Several factors affect precious metals investments, including the current market price for each metal.

A gold IRA presents a secure way to generate retirement funds, and TD Ameritrade offers custodian services to help these investors create, manage, and maintain their IRA. First, the investor determines what account type they want, whether a ROTH or traditional IRA. Next, they fund the account by transferring or rolling over funds from an existing IRA.

According to most reviews online and on the Better Business Bureau, TD Ameritrade can provide all the services necessary to create an IRA. Still, there are many customer complaints against them. Investors should do their due diligence to determine if TD Ameritrade is the most appropriate choice for their investment ventures.

Remember to read out list of the Top Gold Companies to see if TD Ameritrade Gold IRA made the cut.

>> Click HERE to read our Best Precious Metals Investment Companies list <<

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