What Tibble v Edison Supreme Court ruling means for 401(k)'s. Posted on From Filip Karinja, for Birch Gold Group In what may soon prove to be a landmark case, last week the U.S.
Supreme Court ruled that employers have a duty to protect their employees from mutual fund companies whose fund options for 401(k)’s underperform or charge unnecessarily high fees. The case, Tibble vs Edison, has set the stage for what could be a very slippery slope – a slope on which the U.S. government could intervene whenever it believes a 401(k) is not adequately performing. It has many asking questions: If we have another stock market crash on par with 2008 (as some are predicting for this year) would the government step in when 401(k)’s suffer any kind of substantial loss?
I know some of you are likely thinking, “That’s ludicrous, they would never do that!” But after reading what economist Martin Armstrong wrote in reaction to the Supreme Court ruling, in an article boldly titled “Kiss Your Pension Fund Goodbye”, you may think again. But you don’t have to be asleep. Washington just dipped into retirement savings to fund itself. Posted on From Filip Karinja, for Birch Gold Group You know things are getting bad when your government begins to stick its hand into retirement accounts just so that it can remain solvent for a few more months.
With the debt limit about to come back into full swing at a staggering $18.1 trillion this week, Treasury Secretary Jack Lew has undertaken drastic measures to kick the can down the road until later this year. One such plan to fund the government includes raiding the Thrift Savings Plan (TSP), a 401(k)-style retirement savings plan set up for federal employees. Specifically, the Treasury wants to go after the G Fund, the largest fund in the plan, which contains Treasury securities that help to finance the national debt. According to Lew, the government currently has $25 million left to spend before it breaches the imposed limit without these actions.
So what happens come November when these ‘temporary’ measures leave us facing the precipice of the debt ceiling once again? The Federal Reserve doesn't want you to save for retirement. Posted on Another sobering study has come out, this one from Bankrate, showing yet again that about one-third of Americans are not saving for retirement – and it is not just limited to younger workers.
It’s also many older Americans who are just on the cusp of retirement age. A huge proportion of older Americans haven’t put anything away. If older Americans aren’t saving, where’s the money going? Are they running around shopping malls squandering their fat paychecks? So, Americans are not saving, they’re not spending. The truth is that more and more Americans are living paycheck to paycheck and simply don’t have anything left over to save or spend after bills are paid. Is it possible to have a Roth IRA in gold? What about a 401k? Posted on Dear Birch Gold Group, I’m thinking about starting a separate IRA with physical gold and silver investments.
Is it possible to have a Roth IRA in gold? Would it be wise to set up a gold and silver IRA through my 401k? Thank you, Dayton Hess Hi Dayton, Thanks for emailing. Will I physically hold the metals in my Precious Metals IRA? Posted on Dear Birch Gold Group, I’m planning on opening a Precious Metals IRA, but there is one thing I don’t quite understand – will I physically hold the metals?
Thank you, Melissa Flores Hi Melissa, Thank you for the question! This differs from buying precious metals for physical possession (outside of an IRA), in which you’re responsible for storing your metals at home, in a safe, a bank deposit box or wherever you prefer to keep them. Of course, you do have the right to take physical possession of the metals in your Precious Metals IRA at any time, but keep in mind that it will be considered a distribution from your account and will be taxed accordingly, if applicable. Once you’re ready to get started, these are the basic steps involved: Open the Precious Metals IRA (and roll over existing retirement accounts, if eligible/applicable)Purchase your metalsYour metals are stored in an approved depository or vault Thanks for emailing, Melissa!
How can I protect my IRA and 401k with physical gold and silver? Posted on Dear Birch Gold, My retirement plans consist mostly of mutual funds and bonds.
I want to open a Precious Metals IRA – what to start with? How do I buy precious metals? Posted on Dear Birch Gold Group, I am interested in purchasing actual precious metals, not certificates or paper that is backed by precious metals.
How can I buy them? Sincerely, Dan Peterson Hi Dan, How do you store physical gold in a self-directed IRA account? Posted on Dear Birch Gold, I want to invest in gold for retirement, but I’m not really sure how it works.
How do you store physical gold in a self-directed IRA account? Sincerely, Mitch Reid Hi Mitch, Which type of Gold American Eagle coins are best for a Gold IRA and why? Posted on Dear Birch Gold Group, I plan to add some American Eagle gold coins to my IRA, but I’m confused about the difference between the bullion and proof coins.
What type of Gold American Eagle coins are best to put into a Gold IRA and why? Regards, Jeffrey Bell Hi Jeffrey, Thank you for the great question. The simple answer is: there is no universal best. $1 million is no longer enough savings for retirement. Posted on Effusively optimistic headlines have recently been touting an economic “recovery” in the U.S. based on the fact that there are now more millionaires in the nation than ever before, according to a study by the Boston Consulting Group.
Yes, the United States boasts 1,250,000 newly-minted millionaires last year. We’re rich! The same study also tracked global “wealth” and reported that in the last year, 16 million people in the world joined the ranks as a new millionaire. (No surprise to see that China is doing particularly well.) The predictable narrative in some media outlets has a touch of class warfare, with the rich getting richer. This story should strike an emotional chord. How many of these new millionaires don’t think of themselves as fabulously wealthy, but more like upper-middle or even middle class? We can never stress enough that your wealth isn’t determined by the number of dollars in your bank account but instead by the purchasing power of those dollars.
What is a Gold IRA custodian? Posted on Dear Birch Gold Group, What exactly is a Gold IRA custodian, and what is their involvement with my retirement account? Sincerely, Ellen Mitchell Hi Ellen, Good question. Birch Gold Group. Posted on What’s the difference, and how does gold fit into the picture? At Birch Gold Group, we receive a lot of questions from people who are unfamiliar with other retirement savings options beyond their 401k.
Many of them understand the importance of diversification and the unique benefits of gold. But when it comes to a Precious Metals IRA, a “gold 401k” or basically any other type of account that differs from their employer-sponsored plan, they aren’t quite sure what their options are. Saving for retirement is one of the most important things you can do for your financial future, regardless of your current age. Let’s go over some of the basics. How do I buy gold with my IRA? Advantages of a Gold 401k. Posted on. Gold Guru: Can I buy gold with my 401k? Posted on Dear Birch Gold Group, I’m terrified that the next market crash is going to wipe out my retirement savings. Can I buy gold with my 401k as a safety net? Regards, Emily Dreiser Hi Emily, Thank you for the great question – you’re not alone in your fears about the stock market!
The Truth about Gold 401k's. Why are collectible coins not eligible for a Precious Metals IRA? Why you should consider investing in gold. What Obama's 2014 budget may mean for your 401k retirement savings. Comparing Gold IRAs to Conventional IRAs. What everyone is saying about gold-backed IRAs. Why MyRA should terrify the "comfortable" 18% of retirement savers. I already own gold coins – can I add them to my IRA?
Posted on. Precious Metals IRAs by the Numbers. Roth Precious Metals IRA Distributions. Showdown: Paper vs. Physical Gold as Investment. Precious Metals IRA Questions. How to Jump Start Your Gold Investment. Can a 403(b) Hold Physical Precious Metals. Finding the Right Gold IRA Specialist. 5 Reasons Why a Silver IRA Might Work Out Better for You. Self-Directed Gold IRA and You. Gold IRA Investment - Everything You Wanted to Know. In the Spotlight: Silver American Eagles. Bullion Coins and IRA. Gold 401k - Know Your Options. A Silver IRA Might Be Right For You. Roth IRA and Gold: What You Need to Know. Why You Should Consider a Precious Metals IRA. The Anatomy of a Physical Gold IRA. Americans not saving for retirement: Why it's the smart move.
How to Buy Gold with Your 401k: Everything You Wanted to Know. Why Should You Rollover Your 401k into Silver? How to Transfer Your 401k into Gold: a Step-by-Step Guide. Top 10 Reasons to Convert Your IRA To Gold. Retirement Possible with Gold & Silver IRA? Stay Away From Paper Portfolios, Invest In Gold IRA.