How Much Can I Transfer from a Traditional IRA to a Gold IRA

One question that keeps on floating online when it comes to making an IRA transfer is “how much can I transfer from a traditional IRA to my gold individual retirement account? Well, Certain factors decide this. This page will enlighten you on all the factors that decide how much money an individual can transfer from their traditional IRA to a gold IRA.

But First, what is a Gold IRA?

A gold individual retirement account (IRA) works just like any other retirement depository. However, there are added benefits to this. With a gold individual retirement account, you have the benefit of more control over your investment.

Also, you get to hold valuable precious metals such as physical gold coins and bars, platinum, silver, and palladium. Keep in mind that all precious metals accounts must be IRS-approved.

How Does this Work?

With a precious metal individual retirement depository, you get to invest all your retirement funds based on specific tax treatments. Then in the future, you take the distributions. The specific tax treatment is either pre-tax treatment or after-tax treatment. With a gold IRA, you continue to get beneficiaries. You also get quarterly statements and can check your balances anywhere.

How Many Accounts are there?

Just like any conventional retirement depository, the precious metal individual retirement accounts are made up of three types. There are as follows:

Traditional Gold IRA

This is a special type of retirement account that is tax-deferred. And, in respect to tax, works in similar ways as a pre-tax traditional individual retirement account. All your contributions and gains wouldn’t be taxed. The annual contribution limit set by the IRS on this depository is $5,500, for those under the age of 50. Whereas, if you are above 50, the contribution limit is set at $6,500.

Roth Gold IRA

This works just like any conventional Roth individual retirement account. This means that it is an after-tax retirement savings account. Although there isn’t any tax deduction upfront, the better part remains that when you take distributions, you do not have to pay taxes down the road.


This account is specifically for self-employed individuals and business owners. This savings account is similar to a pre-tax traditional retirement depository in the way it operates. This is because all contributions you make aren’t taxed. However, it offers a much higher contribution limit. So, rather than the $5,550 contribution limit, you contribute about 25% of your income.

How Do You Set up this account?

Setting up a gold individual retirement account is quite easy. Several companies can help. The best companies will provide a senior portfolio manager and a specialist to ensure you make the best decision.

You can choose to complete your setup via the internet. You can also choose to complete the setup using a specialist assigned to you. The specialist will help you fill all the necessary applications, and ensure the process runs smoothly.

How Much Can I Transfer from my Tradition IRA to my Gold IRA?

As already stated, certain factors determine your transfer limit. Your age is first and foremost a deciding factor. For example, if you are 50 years or younger, you are legible to transfer up to $100,000 per year. However, if you are older, this increases. At this time, you are legible to transfer up to $200,000 per year.

What is an IRA Transfer?

This is when you transfer money from one retirement account to another. For instance, you can move funds from one traditional Individual retirement account to another. You can also switch from a traditional retirement account to a self-directed IRA.

The transfer takes place between different banks. Your custodian i.e. your bank or broker is responsible for protecting the money in your retirement account.

When transferring funds from an old IRA to a new one, your old custodian would provide the funds. Once you are provided the funds, you have about 60 days to fix that funds in a new account. 

Failure to do so at the given time frame will attract a 10% penalty tax. The custodian you choose to work with will take charge of the transfer. This means you wouldn’t have to worry about penalty tax. You can check this link for more details on how to make transfers without any hitches. 

Are There Added Fees on my Gold IRA Transfer?

There aren’t any rollover fees, or government-sanctioned fees applied to moving your traditional IRA to a gold IRA. Your custodian whether a bank or a broker will charge for their work. Some charge a fee to start the process. Some might charge for the completion of work. However, the transfer fee on average doesn’t exceed $50.

What are the Benefits of Doing this Transfer?

There is a lot to gain when you transfer out of your retirement account. And in most cases would depend on if you are adequately guided on making the switch. It is always best to seek financial advice when making such decisions regarding your investments and assets. Some of the benefits of making this type of transfer include.

Diverse Portfolio

It is risky to put all eggs in one basket. With a transfer, you get a more diverse portfolio. Precious metals can help to secure your money. It is a lot safer than paper currency as well.

Protects from Inflation

If the price of the dollar drops, it affects your ability to buy things. Gold and other precious metals help in this case because the price of gold is much higher than the US dollar. This page has more on how you can safeguard yourself from inflation. 

Take Away

You can choose to transfer money from your traditional retirement account to gold. It is a secure way to stay financially solid. The value of precious metals keeps on increasing. This means that your retirement depository will be a lot more valuable.

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