There are several benefits that come from investing in a precious metals IRA. It allows you to invest in something that is stable, that has stood the test of time, and that will likely retain its value forever. One of the precious metals that people invest in is gold.
It is almost impossible to think about a time in recorded history when gold was not valuable. Wars were fought to get gold, and nations were built and nations fell because of their access to or lack of access to gold. Even in modern times when there is economic upheaval, people who are invested in gold have something that they can use as a hedge to protect their wealth.
A precious metals IRA is unique in that it requires additional effort on your part. For example, you need to find a precious metal dealer that is able to purchase the gold IRA for you. When working with a self-directed IRA custodian, do your due diligence because not all of them offer the same investment choices.
Fund the account via contributions or a transfer or rollover from your 401(k), 403 B, or 457 plan. Remember, there are limits to how much you can invest. You need to plan accordingly. Once that is done, choose an investment for the account and then the custodian. The dealer will finish the transaction on your behalf.