Hey all, it's Jenna, and today I'm going to be giving my Goldco review. Goldco Precious Metals is one of the premier precious metals IRA companies in the USA!
Today with rising capital gains rates, it is going to be significantly harder for people who make a fairly decent income on the stock market or by holding other assets to save money.
The new proposal (soon to be) by Joe Biden & the Democrats is to require households with more than a million dollars a year to pay a regular 24% up to 39.6% on their capital gains!
You can read more details and a breakdown here: https://taxfoundation.org/biden-capital-gains-tax-rates/
At times like these, Gold and Silver IRAs can help avoid much of that taxation, resulting in far more money in your pocket and less money for big government to waste on sending dead people checks.
So, where does Goldco factor into all of this?
Can Goldco help you save on taxes?
Well, not really, but what Goldco can help you do is make sure that your money is secure.
In fact, we did an in-depth analysis of exactly what Goldco does, and we will go into, throughout this review.
Today is the best time to start organizing your finances and future-proofing it, especially knowing just what type of trouble can be headed our way.
Understanding what companies like Goldco can do to help you is key to saving as much as possible while not breaking the law.
So, without further ado, let's start breaking down what Goldco is all about!
High Level Review of Goldco
I like GoldCo Precious Metals, but it's good to look at both the positive as well as the negative.
Conclusion on Goldco:
Goldco is an excellent choice for someone who has money to invest in gold and wants to avert what is now likely to become outrageously high taxation, which could result in inflation mixed with market volatility.
By investing in Gold & precious metals with Goldco, you can legally avert a lot of the tax you'd otherwise have to pay.
FREE Goldco Investing Kit!
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What Does Goldco do?
Goldco, as the name implies, is one of the leading metal IRA firms in the United States.
The California-based company (ironic) has been helping investors from just about every walk of life to secure their financial future with metal IRAs.
Just in case you wanted to know, Goldco has been helping people do this since 2006!
So that's over 14 years of helping investors save money for their golden years (no pun intended).
The IRAs by Goldco are self-directed, which means that you contribute to re-balancing your portfolio as an investor.
You start by creating a portfolio for one of the many precious metal assets Goldco has available, i.e. platinum, palladium, silver and our all-time favorite 'gold.'
Compared to paper assets, precious or rare metals as they are called aren't as susceptible to market volatility.
That's why you'll not lose money if there is an economic downturn or even if the companies offering them (precious metal IRAs) close.
Goldco works with IRA custodian firms to ensure their clients' SDIRA is stable. The firms help the company's clients create new IRA accounts and rollover funds from traditional IRAs to the new Goldco SDIRA accounts.
In other words, Goldco brokers precious metals so that investors can get them at comparatively lower prices.
We are aware of the fact that other firms offer a similar service, and you have probably run into a few of them.
So, the question is, how does Goldco stand out even if they aren't scammers?
So, right off the bat, here are a few things that stand out about the company:
- Clients are treated to excellent customer service, the "Gold Standard" if you will...?
- Goldco has some excellent rates for successful IRA rollovers.
- Rollovers are coordinated with traditional IRA service providers to ensure that the process does not get you taxed or worse penalties. After all, that's one reason why this is a good investment.
- Goldco also helps you come up with the best portfolio consisting of various precious metal assets. The assets acquired or invested in are as per your retirement goals and present capital.
How Do You Get Started with Goldco?
Now, if you are like most investors that believe in diversification, then investing in precious metals is a no-brainer. If anything, part of your portfolio should consist of precious metals.
Goldco will lend all the assistance you will probably need to set up a fully functioning SDIRA.
Here is how the entire process works in a nutshell:
Here's How The Goldco Sign Up Process Works:
You fill out the online form on their website. You will then be contacted by the Goldco staff, usually within a few hours, who will set up your account based on whatever you need and what is discussed. You can also call them during business hours.
You will need quite a few documents and a lot of information to get started. So, after you've collected everything they (Goldco) need, you reach out by calling the official toll-free number and completing the registration process. The rollover process will also be completed at this point.
The paperwork we mentioned earlier has to be sent over to the Goldco support staff for verification, after which the account is activated. Usually, this takes a few business days.
The SDIRA account is then opened, and an expert from Goldco will help to determine the best assets to make part of your portfolio. The process takes on average 3 weeks.
What IRAs Do Goldco Have or Offer?
One of the goals for Goldco is to help investors have their own fully functional SDIRA.
Now for those who aren't in the know, a SDIRA is a self-directed IRA.
So, what types does Goldco offer?
Fortunately, they offer quite a few, and we'll list them below with a brief explanation of each.
We'll try to keep everything in plain English, but you can always call up Goldco's customer support if you have any questions.
Goldco Gold IRA's
As you'd imagine, Gold IRAs are backed by gold, but they are also backed by other precious metals. Precious metals such as gold and silver, as mentioned earlier, helps shield you from market inflation and sudden volatility, which is unfortunately all too common these days.
A couple of benefits associated with Gold IRAs includes:
It ensures that your assets continue to have stable value. In most cases, you are saved from wild fluctuation, which is otherwise a big part of the stock and commodities market.
SDIRA with precious metals has numerous tax advantages, something which isn't available with loads of other assets. So, that's a major reason you should have precious metals, especially seeing as how we're going to be soon taxed to the hilt.
Precious metals are amongst the most hassle-free investments, at least in the US.
Goldco SEP IRAs
Simplified Employee Pension IRAs or SEP IRAs, as they are called, allow business owners to provide employees with a retirement benefit. However, it can also be used by business owners to provide themselves with a similar retirement benefit. Goldco, sets up SEPs similar to how regular IRAs are set up. That said, SEP IRAs come with many tax benefits for business owners, which is why they are the best choice for building a retirement nest egg. As an employer, it is up to you who amongst your employees qualify for a SEP-IRA, and that can be done by setting restrictions. Common restrictions employers can setup include:
The funds being available only to employees over 21 years of age.
Employees should have been working for the business for at least 3 years or 5 years.
The employee has reached the $600+ threshold in a single tax year.
Note: Business owners can also mark down the restrictions as they see fit since the IRA itself isn't making them impose any restrictions.
A Savings Incentive Match Plan for Employees or SIMPLE IRA, as it is called, allows employers to make contributions that are equivalent to what their employees are earning.
The plan allows for employees to reach their retirement savings goal much sooner, which is ideal for older employees who are maybe ten years away from retiring.
A 401(k) Account
It is your typical 401(k) savings account that can then be rolled over to an IRA account which gives you access to many more investment options. Individual IRAs allow you to invest in various assets like stocks, bonds, ETFs and even precious metals.
The act of rolling over your 401(k) funds to a regular Roth IRA or traditional IRA account does have its benefits. If you are rolling over to a traditional rate, all contributions will be taxed at present rates, which are poised to rise, by the way. On the other hand, if you choose to roll over the funds to a Roth IRA, the investment will grow without additional taxation though it presently does attract some taxes, especially when cashing out. But that can be solved by not cashing out until you need
Goldco also has traditional IRAs, the benefits of which include:
All contributions are tax-deferred, but all withdrawals at the end of the investment period are taxed.
Clients can choose to roll over to a Roth IRA mainly to avoid taxation.
Goldco's Roth IRA is usually taxed right after a contribution is made by the company's clients. However, the withdrawals made after the investment period aren't taxed. That said, not everyone will qualify for a Roth IRA.
There are income restrictions, and individuals with a certain net worth can qualify. However, contributions to a Roth IRA can still be made even though you might already have a 401(k) account.
The exciting thing about Roth IRA is that whatever it ends up being worth, it can be passed on to heirs. That's something many younger people should also consider.
Self Directed IRAs or SIDRAs, as they are called, allow customers to put their money into any number of assets like real estate, precious metals, private equity etc. Goldco partners with custodians to ensure customers are all taken care of in light of present IRA regulations. However, you can't include assets like gems, collector coins, artwork or stamps in the portfolio.
On top of the above, Goldco also offer various IRA Approved Gold & Silver Coins.
Apart from all the investment services above, Goldco also offers commemorative and collectable coins, which is something that coin collectors enjoy having. However, they can't be added to your precious metals IRAs.
Here the only gold coins & bullion featured are ones that meet the IRA minimum quality guidelines.
Also, Goldco makes it clear to customers that any gold they have at home, i.e. jewelry, bars etc., can't be added to their IRA.
Goldco Gold IRA also does not allow or support investments in paper-backed assets like Exchange Traded notes and Gold Exchange Traded Funds.
While there are various reasons for this, suffice to say it is beyond the scope of this review.
That said, trading Gold ETFs is easy because you don't own actual gold, but you have shares of an investment company with gold in their inventory.
In other words, it is a paper investment and not really like owning gold, i.e. a hard investment.
If you want to purchase gold to protect you from a potential market collapse, the ETF isn't going to protect you because it is part of the market and so inherits the same risks of various other paper investments.
Goldco sells various gold coins on their website, which are IRA approved.
The coins are 99.9 percent pure as required by the IRS. However, the company advises buyers to keep the gold with a custodian or maybe in a vault if they want it to be part of the precious metals IRA.
If you want to keep them at home, then they can't be part of the IRA.
Goldco also has silver products and according to the company investing in silver has a separate set of considerations compared to gold.
The best way to ensure that the silver used is real requires partnering with a trusted company. Silver is heavily used as an industrial metal, and it's far more than just for jewelry.
Many industries rely on silver to manufacture medical equipment, industrial tools and parts used in electronics.
That's why according to many experts, the prices of silver will continue to rise over the next several years, which makes it an excellent investment.
While you can buy IRA-approved silver as a viable investment against future inflation and potential scarcity, not all silver coins available are instantly eligible to be included in an IRA. The Internal Revenue Service (IRS) has very strict rules for silver to qualify.
Goldco Precious Metals features a couple of coins every now and then on their website, mainly for IRA inclusion. The coins maintain the 99.9% percent IRS mandated minimum purity, which means they can be included in Goldco Precious metals IRA. However, they will have to be stored with a custodian.
That said, if you'd instead collect these coins at home, they (Goldco) will ship them to you directly, but in that case, these coins can be included or be a part of your IRA.
So, the decision of how best to handle the investment is entirely yours. However, collectors would rather store their coins at home, whereas investors will arrange for them to be stored with a custodian.
Goldco Investing Fee's
Now you're probably asking: how does Goldco Precious Metals IRAs make money?
After all, they are a business, so there has got to be a catch, right?
Well, you're right; Goldco needs to make money which is why the minimum purchase is set at $25,000.
The amount isn't inclusive of storage fees which is a separate charge.
Storage fees need to be paid upfront. What you pay in the way of storage fees will vary depending on the custodian you choose. However, Goldco will reimburse a year's worth of storage fees if you hit the magical $25k precious metal purchase threshold. Honestly, it isn't hard to hit, so you can save some money here.
Amount Invested or Fee
Cost or Fee
$25,000 - $99,999 Invested
Varies by Company
Every Goldco customer who hits the $25k of purchases we mentioned earlier must pay a $175 annual fee.
Later the annual fee increases to $225 when a customer's investments cross the $100,000 mark. So, if you keep the investment between $25k and $99.99k, you'll pay the initial $175 annual fee only.
The other thing you need to be aware of is that custodial fees vary quite a bit depending on the custodian you choose. That's why you'll want to be aware of what a custodian is charging before you choose them.
The Goldco Customer Experience & Education
Goldco, unlike a lot of the competition, does not instantly assume that every one that is coming to them is an expert with a financial background.
That's why Goldco has educating people or potential clients as a priority. You will find quite a bit of educational material if you head over to The "Knowledge Section" of the Goldco website. In addition to web page tutorials, there are also eBooks you can download and videos to watch.
There is also a Frequently Asked Questions (FAQs) section which you should go through before contacting support.
We strongly advise that you go through everything on their website.
Plus, if you still have questions, go to some other websites for independent research.
After all, if you don't have a finance and investment background make sure to learn as much about everything that Goldco has to offer, i.e., their pros, cons etc., before you decide to invest.
Pros and Cons of Investing with Goldco
Goldco certainly has its positive points, like excellent customer service. In fact, it has more positives than negatives. However, before you do business with them, it would be worth checking out our list of pros and cons below:
Pros of Investing with Goldco
Cons of Investing With Goldco
My Review & Final Verdict of Goldco
As you probably already figured out by now that Goldco is a legit service with hundreds of clients who trust the firm with their money.
However, the question of if it is right for you will depend on who you are. Suppose you are someone who has money to invest and wants to avert what is likely to become outrageously high taxation, which could result in inflation mixed with market volatility.
In that case, Goldco is an excellent choice. Though we don't advocate evading taxes, but by investing in precious metals, you can avert a lot of the tax you'd otherwise have to pay.
Ideally, you will want to spend time educating yourself about these types of investments. You can start with Goldco's own website, which has quite a bit of information about Roth IRAs and IRAs amongst loads of other things.
If you've decided to give Goldco a shot, they have a free investing kit that is easy to understand and can bring you up to speed on the world of precious metals IRAs.
If you have questions, run into trouble or want to signup with an account, the company's customer service people are always on hand to help.
Grab Your Free Investing Kit Here, and PLEASE - comment below and let ME know if you have any questions, I'm more than happy to help how I can!
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