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Frequently Asked Questions (FAQs):
- What is a Gold IRA?
A Gold IRA is a self-directed individual retirement account that allows you to invest in physical gold and other precious metals as a part of your retirement portfolio. - How do I open a Gold IRA?
You can open a Gold IRA by selecting a custodian who specializes in precious metals and transferring or rolling over funds from your existing retirement account. - Are there any risks in investing in Gold IRAs?
Like all investments, Gold IRAs come with risks, including fluctuations in gold prices. However, they also offer protection against inflation and economic downturns. - Can I store the gold myself?
No, IRS regulations require that the gold in a Gold IRA be stored in an approved, secure depository.
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