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Air Infidel
10th July 2008, 06:38
I’m debating on putting my current IRA’s in precious metals. I have about $60,000 that I would like to roll over into sterling’s PM IRA. However I am debating on a few things.

Option 1- I transfer my current IRA over to sterling’s pm IRA. According to sterling you can only roll over one IRA a year and the 60K is spread throughout three IRA’s (Traditional, Roth, and a SEP). So I would be able to transfer 1/3 of the total of my IRA’s this year and another 1/3 next year. I might miss out at these prices and who knows where gold and silvers prices will be when I can transfer my last 1/3 out of there in 2010. By investing in Sterling’s PM IRA I will not be able to hold the physical metal. It would be held for me in a vault, probably with BD.

Option 2- Roll over one of my current IRA’s to Sterling’s PM IRA and cash out the other two taking the hit on taxes. Take the money from the other two and buy gold and sliver to keep with me at the house.

Option 3- Cash out all of my IRA’s and take the hit on the taxes. Take the money left over and buy gold and silver to store at my house. I would then open a new PM SEP IRA with sterling and fund that with cash from my monthly income. I need a SEP IRA because I own my own business and that money lowers my taxable income.

Any advice on what to do would be appreciated.


Thanks

Argentum
10th July 2008, 07:47
I vote for option Two and option Three. Roll one, cash out the other two and start the new one. That would be your least tax hit, would also get you into the PM market asap, and allow you to hold PM's.

Argentum
10th July 2008, 13:51
It's come to my attention that Sterling may not, in fact, limit your roll-overs. You may have to combine them... I'll look into this.

Air Infidel
11th July 2008, 03:16
I vote for option Two and option Three. Roll one, cash out the other two and start the new one. That would be your least tax hit, would also get you into the PM market asap, and allow you to hold PM's.

I have been in the silver market since ealy this year. I have a couple thousand oz of physical silver :D

frankl4
11th July 2008, 12:11
I’m debating on putting my current IRA’s in precious metals. I have about $60,000 that I would like to roll over into sterling’s PM IRA. However I am debating on a few things.

Option 1- I transfer my current IRA over to sterling’s pm IRA. According to sterling you can only roll over one IRA a year and the 60K is spread throughout three IRA’s (Traditional, Roth, and a SEP). So I would be able to transfer 1/3 of the total of my IRA’s this year and another 1/3 next year. I might miss out at these prices and who knows where gold and silvers prices will be when I can transfer my last 1/3 out of there in 2010. By investing in Sterling’s PM IRA I will not be able to hold the physical metal. It would be held for me in a vault, probably with BD.

Option 2- Roll over one of my current IRA’s to Sterling’s PM IRA and cash out the other two taking the hit on taxes. Take the money from the other two and buy gold and sliver to keep with me at the house.

Option 3- Cash out all of my IRA’s and take the hit on the taxes. Take the money left over and buy gold and silver to store at my house. I would then open a new PM SEP IRA with sterling and fund that with cash from my monthly income. I need a SEP IRA because I own my own business and that money lowers my taxable income.

Any advice on what to do would be appreciated.


Thanks

I would spend 156.00 dollars and subscribe to Robert Chapman's, " International Forecaster" news letter. it's on the web or by regular mail. Once you are a subscriber Mr. Chapman will call you after you contact him and he will tell you what is the best way to invest your money. He is world renowned. You may get a free copy by going to his web site and follow the instructions. international forecaster.com

Air Infidel
12th July 2008, 09:17
I would spend 156.00 dollars and subscribe to Robert Chapman's, " International Forecaster" news letter. it's on the web or by regular mail. Once you are a subscriber Mr. Chapman will call you after you contact him and he will tell you what is the best way to invest your money. He is world renowned. You may get a free copy by going to his web site and follow the instructions. international forecaster.com

Thanks for the info. I will check it out.

joshrain
12th July 2008, 18:59
iwhy should you take a tax hit and penalty. that is a lot of money.
there are still good business and companies out there.

for example, you could put your 60k in goog.
debt free, strong growth, does not depend on oil, 50% of revenue is overseas and great market share. wall street doesn't know a crap about this company and neither do most people. go long on this.

if you are going to retire soon, put it in swiss bonds for safety.

my 2cents

--josh


I’m debating on putting my current IRA’s in precious metals. I have about $60,000 that I would like to roll over into sterling’s PM IRA. However I am debating on a few things.

Option 1- I transfer my current IRA over to sterling’s pm IRA. According to sterling you can only roll over one IRA a year and the 60K is spread throughout three IRA’s (Traditional, Roth, and a SEP). So I would be able to transfer 1/3 of the total of my IRA’s this year and another 1/3 next year. I might miss out at these prices and who knows where gold and silvers prices will be when I can transfer my last 1/3 out of there in 2010. By investing in Sterling’s PM IRA I will not be able to hold the physical metal. It would be held for me in a vault, probably with BD.

Option 2- Roll over one of my current IRA’s to Sterling’s PM IRA and cash out the other two taking the hit on taxes. Take the money from the other two and buy gold and sliver to keep with me at the house.

Option 3- Cash out all of my IRA’s and take the hit on the taxes. Take the money left over and buy gold and silver to store at my house. I would then open a new PM SEP IRA with sterling and fund that with cash from my monthly income. I need a SEP IRA because I own my own business and that money lowers my taxable income.

Any advice on what to do would be appreciated.


Thanks

SilverHawk
13th July 2008, 23:02
Ah......... Number 3 ????

And don't worry about lowering your taxes by keeping that loosing investment. You take every penny you can get your hands on and buy Silver Coin. Sell everything you can and buy Silver Coin. Any currency denominated investment is going....bye, bye. Don't get caught holding worthless assets. It can all go under in the blink of an eye.