- More Products
- Sell Gold & Silver
- Knowledge Center
- About Us
- Join Our Newsletter
It is possible to convert your 401(k) to a physical gold or silver 401(k). This article is about steps you can take to do so.
Because gold and silver bullion often move counter to equities and mutual funds generally offered by company plans, precious metals can be an excellent addition to help ensure a balanced retirement portfolio.
With gold and silver's current bullish investment fundamentals, many people are trying to get as much exposure to these two precious metals as possible. If you have a 401(k) retirement savings account, converting it to a gold 401(k) or silver 401(k) could be one of the easiest ways to gain exposure to gold and silver with no cash out of pocket!
How to Convert Your 401(k) into Gold & Silver Bullion
The route you take to convert your 401(k) will depend on your current situation.
If your 401(k) is from a company or companies for whom you no longer work, then you can roll over those funds into a Traditional IRA. Once your 401(k) funds have been deposited in an IRA, they can be utilized to buy Gold or Silver. You can select one of our trusted IRA custodians listed on our website to accomplish this, and they can help you complete the transaction step by step.
If you still work for the company that hosts your 401(k) account, it may still be possible to free up those funds for a rollover. This option, if available, is called an “in-service distribution. “ The great thing about an “in-service distribution” is that it is not a loan; rather it is an actual distribution of funds that can be rolled over (within 60 days) to a Self-directed IRA without tax consequences. In this case, you would have to ask your current 401(k) provider if its plan allows for an in-service distribution. If so, ask them how to get started, and they will guide you through the process.
Formally Request Your Employer
If your company 401(k) does not include an in-service distribution option, you are left with a few additional options. You can get in touch with your company’s Human Resources Department and plan administrator and request that precious metals be included in the company’s 401(k) plan. You can also send the contact information for your company’s 401(k) to email@example.com referencing this article and we will follow up with your plan administrator in an effort to add a precious metals option to your company’s 401(k) plan. Our contact and followup will be made anonymously and confidentially ( without disclosing your name, etc.). If we are able to assist your company in adding a precious metals option to its retirement plan, not only will you benefit, but other employees will benefit as well.
Owners Can Take Charge With Gold 401(k)s & Silver 401(k)s
Company owners also can profit from an investment in silver or gold by starting gold 401(k) and silver 401(k) plans for the company. Both the business owner and employees can roll retirement funds into the company's new gold and silver bullion savings plan. This option maximizes the annual amount that can be contributed on either a pre-tax or post-tax basis for long-term retirement savings.
Please contact New Direction IRA, Inc. directly for any questions or to get this process started for your company:
Mark Furmanek, firstname.lastname@example.org
New Direction can facilitate the addition of a gold and silver option to your company’s 401(k) plan with little or no additional effort on the part of the company owner. GoldSilver.com can provide easy access to the metals themselves and assist the company owner with understanding available choices and working directly with employees.