LOS ANGELES, April 28, 2015 (GLOBE NEWSWIRE) -- via PRWEB - In the wake of recent blows to the economy, including China's landscape-altering Asian Infrastructure Investment Bank, which has U.S. allies rushing to join alongside regimes such as Iran, Americans nearing retirement are concerned about the impact to savings they're relying on. But a new type of IRA may provide much-needed security.
"If you're in your twenties or thirties you've got years to stick with the stock market and hope you cash out at a relatively stable moment," says Trevor Gerszt, investment specialist and CEO of Goldco Precious Metals. "But if you're in your forties or fifties, you won't have time to ride out the downturn. You need protection."
Long considered a hedge against inflation, gold and silver have always been part of wealthy investors' portfolios. But it's been harder to get that same protection in our IRAs and 401(k)s. This because such funds have historically been controlled by institutions that restrict investors to their own offerings. The most a client interested in investing in precious metals could find was an exchange-traded fund that owned gold. But such investments were indirect and, at the end of the day, still paper. Investors looking to hold actual coins or bullion for retirement were out of luck.
Restricting older workers from putting their savings into these lower-risk options makes no sense, says Gerszt. "It's completely illogical that the safest asset was unavailable to prospective retirees; the ones who need the most stable investments."
It inspired him to develop the Self Storage Gold IRA, a form of self-directed or checkbook IRA that lets investors decide for themselves how and what to invest in, including coins and bullion, known as physical gold or silver.
"With our Self Storage Gold IRA, we create a limited liability corporation (LLC) for the client, then their IRA invests in the LLC. Once the LLC has that capital, it can start making independent investments, directed by the LLC manager. If you decide to manage it yourself, you get to make all the decisions--just so long as the dividends remain in the LLC until you're 59½."
Additionally, if you decide to start a gold and silver IRA, those metals can be shipped wherever the LLC directs. So investors now have the option to direct where their precious metals are housed, typically in a secure depository.
"I've always believed people should have more say in whether their savings--which represent decades of hard work--are protected. Now we're finally giving them a way to make that happen today."
About Goldco Precious Metals
Goldco Precious Metals (goldcopreciousmetals.com), located in Los Angeles, CA, is a privately held retirement services firm specializing in wealth and asset protection. They offer a range of retirement investment accounts including traditional, self-directed and Self Storage IRAs; as well as IRA, 401(k) and 403(b) rollovers. Founded in 2006 by finance and precious metals authority Trevor Gerszt, Goldco also offers direct sales of precious metals coins and bullion to collectors and investors.
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