Lear Capital Reviews Reveal Answers To The Questions You May Have About Owning Precious Metals
With a steady performance record that dates back decades, physical precious metals can potentially help mitigate losses from other assets in a portfolio.
A number of investors have chosen to include items such as gold and silver coins and bars in an individual retirement account specifically to take advantage of their historical tendency to retain value or even rise during both good and bad economic times, according to Kevin DeMeritt, founder and chairman of the Los Angeles-based precious metals firm Lear Capital.
“Gold has an inverse relationship to stocks and other types of assets,” DeMeritt says. “Gold is used as a safe haven during recessions, market volatility, war; it’s typically going to give you more stability.”
If you’re interested in obtaining physical assets made of precious metals — but aren’t sure what’s involved — we’ve got answers to some common questions about precious metal ownership.
Learn About Precious Metals With Lear Capital
How Can I Include Physical Precious Metals In A Retirement Savings Account?
Gold, silver, and other assets made of precious metals can be held in a self-directed IRA, along with other items such as stocks, bonds and less traditional assets like real estate.
After establishing the IRA, you can then fund it by rolling over funds from another qualified retirement savings account, such as a traditional Roth, SEP or SIMPLE IRA, 401(k), 403(b), 457(b), Thrift Savings, or pension plan.
“You can transfer any amount of your IRA that you feel comfortable with; you are not required to [roll over] your entire account,” Kevin DeMeritt says.
Lear Capital can then help you use the funds to obtain precious metals, which generally need to contain a certain content of the pure metal to be included in a self-directed IRA, per IRS rules. Gold items, for instance, typically have to possess a fineness of 0.995 or above.
The IRS also requires the assets to be kept in an approved storage facility. Lear Capital will coordinate shipping any items you purchase to the Delaware Depository, which backs its storage services with a comprehensive insurance policy.
In one of the Lear Capital reviews shared on Trustpilot, Michael K. said he found Lear Capital’s guidance during the process helpful.
“It was very easy to understand and get funds transferred and metals picked out, bought, and sent to [the] depository for safe keeping,” he said.
Economic conditions prompted Richard H. to contact Lear Capital, according to one of the Lear Capital reviews posted on Google.
“My wife and I were looking for an investment strategy to help us protect our retirement assets against the impending inflation and devaluing of the dollar,” Richard wrote. “We were pleased with the information we received and we decided to move our IRA accounts over to invest in gold and silver. The process was very smooth and quick, and we are now precious metal investors.”
Can I Purchase Precious Metals And Keep Them At Home?
If precious metals are part of an IRA, they can’t be stored in your home.
“To continue to get the tax benefit of that retirement account, you cannot hold those metals yourself,” Kevin DeMeritt says. “The government needs to confirm that you actually have [them].”
Some people, though, choose to buy items such as gold coins for personal use — to give as a gift, for example, or hold on to the items to take advantage of any increase in value the metal may experience over time.
Dave T., for example, purchased about $25,000 worth of gold, according to one of the Lear Capital reviews posted on Trustpilot.
“The process was simple, and I [got] the product delivered to my home,” he said.
If you retain possession of the precious metals you buy, making sure the items are securely stored within your residence, as Tim F. has, is a good idea.
“I was a first-time gold/silver buyer and [the representative] made it very easy for me,” Tim said in a review of Lear Capital on Trustpilot. “He walked me through [the] different types of assets and I felt pretty educated after he went through all that data with me. The assets shipped fast, and [he] kept us posted on the tracking of the shipment. I’m a much happier person now with a bunch of gold and silver in my safe to protect myself.”
How Do I Sell Precious Metals?
If you’re thinking about liquidating some of the items you own, Lear Capital will provide an estimate of what your precious metal holdings are worth at any given time.
Investors can also take advantage of Lear Capital’s notification system, which allows them to sign up to receive an email if a specific precious metal reaches a certain price level at which they’d like to buy or sell.
When you’re ready to retire, you can choose to either have precious metal assets that are part of an IRA shipped directly to you — or you can liquidate the items and receive cash for them.
Once you let your Lear Capital IRA specialist know which option you’d prefer, the corresponding arrangements will be made for you. A liquidation-related cash distribution generally takes about one day to process. You can have the amount wired to a specific bank account or sent as a check.
Lear Capital processed Mendiata M.’s request for a distribution of funds, according to a review she posted on Trustpilot.
“[The representative] was prompt and her instructions were clear and easy to follow,” Mendiata said. “I feel that she was thorough in her work and had a good experience in dealing with Lear Capital.”
