RETIREMENT PLANS

Retirement plans weren’t talked about too much in the 70s and the 80s. There was a time when most US workers were able to rely on employer pensions and social security to cover their costs and provide income during retirement. For much of this time, we had a stable US dollar currency backed by gold and silver. US companies were not under pressure to cut costs and pensions to compete in a global marketplace.

Today, no matter what your employment situation, you MUST save for your own retirement. The US government understands this and offers a number of tax breaks through various retirement plans in order to do so.

When picking a plan right for you, consult your CPA or tax professional. When choosing the assets for your retirement, you should consider the fundamental risks to the US and global financial system as well a the risk to the strength of the US dollar and its purchasing power. Midas Gold Group is your trusted source for owning gold and silver in your retirement plan.

If you are concerned, as most people are, that fundamental risks to your financial security during retirement include inflation, ballooning national debt, a recession, banking collapse, or a meltdown of the financial markets, you MUST consider adding the stability of physical gold and other precious metals to your IRA or another qualified retirement plan.

Midas Gold Group is America’s Most Trusted Gold IRA Company. We have conducted thousands of transactions involving every type of retirement plan. No matter what type of plan you have or what plan you may be looking to start, we are familiar with that plan and will help you use it to purchase physical gold and precious metals. With Midas Gold Group, you can rest assured knowing that you are dealing with an experienced retirement plan expert and your transactions will be completed properly, quickly, and easily.

The following is an overview of the major retirement plans and how a conversion to physical gold or silver works.

RETIREMENT PLANS OVERVIEW

Retirement Plan Comparison
PLAN NAME	NOTES	ROTH OPTION AVAILABLE?	CAN OWN GOLD?	ROLLOVER REQUIRED	ROLLOVER/TRANSFER ELIGIBILITY
Traditional IRA	A traditional IRA can ALWAYS be rolled over to a Gold IRA as a non-taxable event. People convert Traditional IRAs to gold every day.	NO	ALWAYS	GENERALLY: as most custodians do not offer physical gold, a rollover to a self-driected custodian is generally required.	ALWAYS eligible for rollover or direct transfer.
ROTH IRA	Like a Traditional IRA, a ROTH IRA can own physical precious metals; there is no tax consequence or change in ROTH status.	YES	ALWAYS	GENERALLY: as most custodians do not offer physical gold, a rollover to a self-driected custodian is generally required.	ALWAYS eligible for rollover or direct transfer.
SEP IRA	A SEP IRA, for the self-employed can always own precious metals; with high contribution limits its a great way to buy gold and save taxes.	NO	YES, unless restricted by custodian.	GENERALLY: as most custodians do not offer physical gold, a rollover to a self-driected custodian is generally required.	ALWAYS eligible for rollover, unless restricted by a contributing employer.
SIMPLE IRA	A SIMPLE IRA is setup for employers to match employee contributions, it can be converted to gold and employers can continue to match.	NO	YES, unless restricted by custodian.	GENERALLY: as most custodians do not offer physical gold, a rollover to a self-directed custodian is generally required.	Eligible for rollover 2 years after initial contribution. May be restricted by contributing employer.
Inherited IRA	An Inherited IRA can always be used to own precious metals, if you inherit IRA assets, you can use it to buy gold without paying taxes.	YES	ALWAYS	GENERALLY: as most custodians do not offer physical gold, a rollover to a self-directed custodian is generally required.	ALWAYS eligible for rollover or direct transfer. If inheriting from a spouse it can be rolled over to your personal IRA.
Rollover IRA	A Rollover IRA was once an employer plan such as a 401(k); you can always own gold in this plan or start a new one with an old 401(k).	YES	ALWAYS	GENERALLY: as most custodians do not offer physical gold, a rollover to a self-directed custodian is generally required.	ALWAYS eligible for rollover or direct transfer.
401(k)	A 401(k) is an employer plan; it can be rolled into an IRA that can own gold. However, there may be restrictions if you are still employed.	YES	Yes, but rarely offered by plan administrators.	ALMOST ALWAYS, as very few 401(k) plan administrators offer physical gold.	If still employed, check with your plan administrator. Rollover always eligible upon leaving employment or retiring.
403(b)	A 403(b) is a plan generally for school and non-profit employees; it can be moved to an IRA to buy gold, but often not until retirement.	YES	Yes, but rarely offered by plan administrators.	ALMOST ALWAYS, as very few 401(k) plan administrators offer physical gold.	If still employed, check with your plan administrator. Rollover always eligible upon leaving employment or retiring.
457(b)	A 457(b) is a plan mostly for government employees; it can be converted to a Gold IRA usually after leaving a job or retirement.	YES	Yes, but rarely offered by plan administrators.	ALMOST ALWAYS, as very few 401(k) plan administrators offer physical gold.	If still employed, check with your plan administrator. Rollover always eligible upon leaving employment or retiring.
TSP	The TSP is for Government Employees & Armed Service Members; restricted in investment in managed funds; can be rolled into a Gold IRA.	YES	NO	ALWAYS	While employed, a one-time partial IRA rollover is allowed once over 59 ½. Always available for IRA rollover when leaving job or retiring.
HSA	HSAs are becoming increasingly popular and you can use the funds you save in them to buy gold as easily as you can with and IRA.	NO	ALWAYS	GENERALLY: as most custodians do not offer physical gold, a rollover to a self-directed custodian is generally required.	Can only be rolled into another HSA.

TRADITIONAL IRA

A Traditional IRA is a tax-deferred retirement savings vehicle. Any money you put in your Traditional IRA is not taxed until you eventually take money out of the account. Any gains or losses you incur inside a Traditional IRA are also not taxed or taken as losses. Investments inside a Traditional IRA can accumulate much faster than in other taxable investment accounts as principal balances do not need to be reduced to pay taxes.

A Traditional IRA is certainly not the only retirement account that can own physical gold and precious metals, but it is the most common account to do so. This is because many other retirement plans such as a 401(k), 403(b), 457(b), TSP, and others can easily be rolled into a Traditional IRA whenever permissible by the plan sponsor and always after retirement or change of employment. A rollover of these types of plans to a Traditional IRA is a non-taxable event. When you rollover a qualified plan to Traditional IRA, all of your retirement assets keep their tax-deferred status. Further, you can then use some or all of the funds in your retirement plan to buy physical gold, silver, platinum, and/or palladium.

Basics of a Traditional IRA

Any US taxpayer or their spouse who is under age 70 ½ can contribute to or start a new Traditional IRA.
Any money you add to a Traditional IRA is not taxed until you take IRA distributions.
The 2023 Traditional IRA contribution limit for those under age 50 is $6,500.
The 2023 Traditional IRA contribution limit for those age 50 and above is $7,500.
Once you turn 59 ½, you may take distributions from a Traditional IRA with no early withdrawal penalty; you simply pay taxes on withdrawals.
If you take an “early withdrawal” from a Traditional IRA, before age 59 ½, you must pay a 10% penalty in addition to ordinary taxes.
At age 73 Traditional IRA holders are required to take distributions called Required Minimum Distributions of (RMDs).
You may name one or more beneficiaries to your Traditional IRA who will receive your IRA assets if you pass away.
When the plan allows, many other retirement accounts can be rolled into a Traditional IRA without any taxes or penalties including 401(k), 403(b), 457(b), TSP, Defined Benefits Plan, and Profit Sharing Plan.
Other IRAs can be converted to a Traditional IRA including SEP IRA, SIMPLE IRA, (Spousal) Inherited IRA, and Rollover IRA
A ROTH IRA cannot be converted to a Traditional IRA.
A Traditional IRA can be converted to a ROTH by simply paying the taxes.
A Traditional IRA can own IRA eligible forms of physical gold, silver, platinum, and palladium (through a change of custodian may be required).

ROTH IRA

A ROTH IRA is somewhat opposite of a Traditional IRA. You contribute to your ROTH IRA with after-tax money, money that had already been taxed. When you take money out of the ROTH IRA, you are not taxed on any distributions regardless of the ROTH balance. Like the Traditional IRA, you cannot withdraw before age 59 ½ without paying a 10% penalty to the IRS. Even though contributions to a ROTH do not give you a tax deduction in the year you make the contribution, a ROTH can have tremendous tax advantages later in life by having tax-free income and not paying any taxes on gains in your ROTH. If you have a traditional IRA, you can convert that IRA to a ROTH even before age 59 ½ without penalty and by simply paying the taxes on the value of the Traditional IRA. You can always use your ROTH IRA to own precious metals.

Basics of a ROTH IRA

For 2020 and later, there is no age limit on making regular contributions to traditional or ROTH IRAs.
You contribute after-tax money to a ROTH but do not pay taxes on distributions.
The 2023 ROTH IRA contribution limit for those under age 50 is $6,500.
The 2023 ROTH IRA contribution limit for those age 50 and above is $7,500.
You may contribute to both a ROTH and a Traditional IRA in the same year but combined contributions cannot exceed $6,500 or $7,500 of over 59 ½.
Once you turn 59 ½, you may take distributions from a ROTH IRA tax-free with no early withdrawal penalty.
If you take an “early withdrawal” from a ROTH, before age 59 ½, you must pay a 10% penalty but there is no tax on the distribution itself.
A ROTH IRA is not subject to any Lifetime Required Minimum Distributions of (RMDs).
You may name one or more beneficiaries to your ROTH IRA who will receive your IRA assets if you pass away but is then subject to distribution requirements.
A Traditional IRA may be converted to a ROTH but a ROTH may not be converted to a Traditional IRA.
A ROTH IRA can always own IRA eligible forms of physical gold, silver, platinum, and palladium (through a change of custodian may be required).

SEP IRA

SEP stands for Simplified Employee Pension. It is similar to a Traditional IRA except it is specifically for self-employed people or employees of a business that offers a SEP IRA. Whether you own a sole-proprietorship, corporation, LLC, or other business, you may open a SEP IRA or offer one to employees. The caveat to an employer is that only the employer can contribute to the employee’s SEP Plan and whatever percentage of his income contributed to the SEP is the same percentage that must be contributed to the participating employee’s SEP plans. The advantages of SEP IRA are that as a self-employed individual, you can take a much larger tax deduction: the maximum 2023 SEP contribution limit is $66,000 (but cannot exceed 25% of your salary). Also, with higher contribution limits, you can accumulate assets much faster than you can in a Traditional IRA.

Basics of a SEP IRA

SEP Stands for Simplified Employee Pension.
Any self-employed US taxpayer may start or contribute to the SEP IRA Plan.
Money contributed to a SEP IRA is tax deductible; no taxes are paid on this money until you take distributions.
The 2023 SEP contribution limit is set as the lesser of $66,000 or 25% of after-contribution income.
Once you turn 59 ½, you may take distributions from a SEP IRA with no early withdrawal penalty; you simply pay taxes on withdrawals.
If you take an “early withdrawal” from a SEP IRA, before age 59 ½, you must pay a 10% penalty in addition to ordinary taxes.
At age 73, if you were born after June 30, 1951 SEP IRA holders are required to take distributions called Required Minimum Distributions of (RMDs).
You may name one or more beneficiaries to your SEP IRA who will receive your IRA assets if you pass away.
You can convert your SEP IRA into a Traditional IRA or even a ROTH IRA.
A SEP IRA is allowed to own eligible forms of physical gold, silver, platinum, and palladium. Depending on your employer, your investment options may be limited until you leave employment and can transfer the SEP IRA to a new custodian or your plan allows for a rollover.

SIMPLE IRA

The SIMPLE IRA (short for Savings Incentive Match Plan for Employers) was designed as a retirement plan for self-employed people and small business to provide a retirement plan without the costs of setting up a complicated plan such as a 401(k). Contributions to a SIMPLE IRA are not taxed. You only pay taxes on SIMPLE IRA contributions when you take distributions from the SIMPLE IRA. It is essentially the same as a Traditional IRA but setup through an employer. The plan can only be established by an employer (an employer with less than 100 employees). Employers are required to match some contributions that employees make. The employee contribution limit in 2023 is $15,500 or $19,000 for those over age 59 ½. Contributions can be matched by the employer, up to 3% of the employee’s salary.

Basics of a SIMPLE IRA

SIMPLE stands for Savings Incentive Match Plan for Employers.
Only a qualifying US tax paying business or business owner can start a SIMPLE IRA plan.
A qualifying business for a SIMPLE IRA is a business with less than 100 employees.
Money contributed to a SIMPLE IRA along with employer contributions are not taxed; no taxes are paid on this money, only when you take distributions.
The 2023 SIMPLE IRA contribution limit for those under age 50 is $15,500 per plan and no more than $19,000 combined if the employee participates in two or more SIMPLE IRAs from different employers.
The 2023 SIMPLE IRA contribution limit for those over age 50 is $22,500 per plan and no more than $30,000 combined if the employee participates in two or more SIMPLE IRAs from different employers.
Employers generally match employee contributions dollar for dollar to their SEP IRA. Employer matching contributions cannot, however, exceed 3% of the employee’s annual salary.
Once you turn 59 ½, you may take distributions from a SIMPLE IRA with no early withdrawal penalty; you simply pay taxes on withdrawals.
If you take an “early withdrawal” from a SIMPLE IRA, before age 59 ½, you must pay a 10% penalty in addition to ordinary taxes.
At age 73 SIMPLE IRA holders are required to take distributions called Required Minimum Distributions of (RMDs). (70 ½ if you reach 70 ½ before January, 1 2022)
You may name one or more beneficiaries to your SIMPLE IRA who will receive your IRA assets if you pass away.
A SIMPLE IRA can always be rolled over into a new SIMPLE IRA; it can be rolled into a Traditional IRA or another plan only after two years of opening the SIMPLE IRA.
A SIMPLE IRA is allowed to own eligible forms of physical gold, silver, platinum, and palladium. Depending on your employer, your investment options may be limited by the employer’s chosen custodian until you leave employment and can transfer the SIMPLE IRA to a new custodian or your plan allows for a rollover.

INHERITED IRA

An Inherited IRA is simply an IRA that you have inherited through death. An Inherited IRA may be a Traditional IRA or a ROTH IRA. If you inherited an IRA as the spouse of the deceased, you may treat the IRA as your own and even roll it into your own Traditional or ROTH IRA under your name. If you inherited the IRA as anything other than the spouse you do not have this option. The IRA must stay in the name of the deceased and is subject to Required Minimum Distributions. An Inherited IRA may come from a Traditional, ROTH, SEP, SIMPLE, Rollover, or even another Inherited IRA. The Inherited IRA must be transferred to a new Inherited IRA in the recipient’s name. Inherited IRAs can always be used to purchase physical gold, silver, platinum, and palladium.

Basics of an Inherited IRA

An Inherited IRA is passed on to a recipient through death or inheritance.
There are different rules for Inherited IRAs from spouses and non-spouses.
If the spouse of the deceased in the hold of the inherited IRA, that IRA can be treated as the spouses own and rolled into an IRA in the spouse’s name.
If the recipient is a non-spouse, this option is not available. The recipient must take distributions of the IRA according to an RMD schedule already started within 5 years of receipt.
You cannot make new contributions to an Inherited IRA (unless you make it your own as a spouse).
An Inherited IRA can own IRA eligible forms of physical gold, silver, platinum, and palladium (through a change of custodian may be required).

ROLLOVER IRA

A Rollover IRA is simply a Traditional IRA or ROTH IRA set up for the purpose of receiving a transfer of funds from an employer-sponsored plan such as a 401(k), 403(b), or 457(b). The amount you can rollover to a rollover IRA is unlimited. You can always transfer funds from an employer-sponsored plan when you retire or cease employment with the employer. Many employer plans allow a transfer while still employed. A Rollover IRA is subject to the exact same rules for its Traditional or ROTH IRA counterpart. A Rollover IRA can always be used to purchase physical precious metals.

Basics of a Rollover IRA

Can be opened by any US taxpayer to receive rollover funds from an employer-sponsored plan such as a 401(k).
A Rollover IRA can be a Traditional IRA or a ROTH IRA.
You can make annual contributions to a Rollover IRA just like you would a Traditional or a ROTH. The contribution limits are the same.
Once you turn 59 ½, you may take distributions from a Rollover IRA with no early withdrawal penalty.
If you take an “early withdrawal” from a Rollover IRA, before age 59 ½, you must pay a 10% penalty and ordinary income taxes only if it is a Traditional IRA.
You may name one or more beneficiaries to your Rollover IRA who will receive your IRA assets if you pass away.
You can transfer a Rollover IRA to other IRAs or other Retirement Plans.
A Rollover IRA can always own IRA eligible forms of physical gold, silver, platinum, and palladium (through a change of custodian may be required).

401(k)

The 401(k) Retirement Plan was added to the US Internal Revenue code in 1978. It is now the most popular type of retirement plan for employees and employers. Nearly 95% of private employers feature a 401(k) plan as part of their employee benefits package. Individual 401(k)s are generally funded by the employee through withholdings from their paychecks. Employees are not taxed on these withholdings and many employers also match some percentage of employee contributions to the 401(k). A ROTH option also exists for many 401(k) plans. As of 2023, the annual contribution limit to a 401(k) plan is $22,500. 401(k) plans are administered by the employer or a third party administrator hired by the employer. Even though it is legally allowed, very few 401(k) plan administrators offer gold or physical precious metals as an investment option within the plan. Therefore, as an employee, you may need to roll all or a portion of your 401(k) into a self-directed IRA in order to make a physical gold purchase within your retirement account. Many employers allow some portion of a 401(k) to be transferred to an IRA while the employee is still employed. Other 401(k) plans do not allow this so the employee must wait until they change employers or retire.

Basics of a 401(k)

A 401(k) is an employer-sponsored plan that employees may participate in.
Contributions are generally made via withholdings to the employee’s paycheck.
Contributions to the 401(k) are not taxed until distributions are taken from the plan.
The 2023 401(k) contribution limit is $22,500.
Once you turn 59 ½, you may take distributions from a 401(k) with no early withdrawal penalty.
If you take an “early withdrawal” from a 401(k), before age 59 ½, you must pay a 10% penalty and ordinary income taxes.
At age 73 401(k) holders are required to take distributions called Required Minimum Distributions of (RMDs). (70 ½ if you reach 70 ½ before January 1, 2022)
A ROTH 401(k) option may be available through some employers.
Many employers and administrators allow you a take out a loan against your 401(k) while still employed.
A 401(k) is legally allowed to own eligible physical gold, silver, platinum, and palladium.
Very few 401(k) plan administrators offer precious metals as a 401(k) investment option.
In order to use funds from a 401(k) to buy precious metals, the 401(k) will likely need to be rolled into a self-directed IRA.
Many 401(k) plans can be rolled over to a self-directed IRA while still employed.
401(k)s can always be rolled over to an IRA upon a change of employment or retirement.

403(b)

For all intents and purposes, the 403(b) plan functions identically to the 401(k) plan. The only difference is that is was established by a different part of the Internal Revenue Code. It is a defined contribution employer-sponsored retirement plan specifically for some public school employees, untaxed and non-profit organizations, and employees of some churches. Just like the 401(k), employees generally contribute to the plan with deductions from payroll. Each plan has a sponsor (the employer) and a plan provider (generally a third party). Just like the 401(k), investment choices are limited and generally do not include precious metals. A 403(b) can be rolled over to a self-directed IRA but often not until you retire or change jobs.

Basics of a 403(b)

A 403(b) is an employer-sponsored plan similar in most respects to a 401(k).
403(b) plans are for employees of some public schools, non-profit organizations, and some churches.
Contributions are generally made via withholdings to the employee’s paycheck.
Contributions to the 403(b) are not taxed until distributions are taken from the plan.
The 2023 403(b) contribution limit is $22,500.
Once you turn 59 ½, you may take distributions from a 403(b) with no early withdrawal penalty.
If you take an “early withdrawal” from a 403(b), before age 59 ½, you must pay a 10% penalty and ordinary income taxes.
At age 73 403(b) holders are required to take distributions called Required Minimum Distributions of (RMDs).
A ROTH 403(b) option may be available through some employers.
Many employers and administrators allow you a take out a loan against your 403(b) while still employed.
A 403(b) is legally allowed to own eligible physical gold, silver, platinum, and palladium.
Though allowed by law precious metals are almost never offered as an investment option by 403(b) plan administrators.
In order to use funds from a 403(b) to buy precious metals, the 403(b) will likely need to be rolled into a self-directed IRA.
403(b)s can always be rolled over to an IRA upon a change of employment or retirement.

457(b)

A 457(b) plan is an employer-sponsored plan virtually identical in its function to other defined benefits plans like the 401(k) and the 403(b). It is established specifically for employees of two types of organizations: Government organizations, and tax-exempt non-government organizations such as hospitals. Government employees are generally funded by the government while private sector 457(b) plans are generally funded with tax-free payroll deductions as with the 401(k) and 403(b). All 457(b) plans have a plan administrator and the administrator generally limits the investment options for the 457(b) plan to a few hand-selected mutual funds and other traditional assets. While employed with the company sponsoring the 457(b) plan, physical precious metals is probably not an investment option available to you. When you change jobs or retire, you can roll your 457(b) plan into a Rollover IRA that can be used to purchase physical gold, silver, platinum, and palladium.

Basics of a 457(b)

A 457(b) is an employer-sponsored plan similar in most respects to a 401(k).
457(b) plans are for employees of the government and non-government tax-exempt organizations like hospitals.
Contributions for private sector employees are generally made via withholdings to the employee’s paycheck.
Contributions to the 457(b) are not taxed until distributions are taken from the plan.
The 2023 457(b) contribution limit is $22,500.
Once you turn 59 ½, you may take distributions from a 457(b) with no early withdrawal penalty.
If you take an “early withdrawal” from a 457(b), before age 59 ½, you must pay a 10% penalty and ordinary income taxes.
At age 73 457(b) holders are required to take distributions called Required Minimum Distributions of (RMDs).
A ROTH 457 (b) option may be available through some employers.
Many employers and administrators allow you a take out a loan against your 457(b) while still employed.
A 457(b) is legally allowed to own eligible physical gold, silver, platinum, and palladium.
Though allowed by law precious metals are almost never offered as an investment option by 457(b) plan administrators.
In order to use funds from a 457(b) to buy precious metals, the 457(b) will likely need to be rolled into a self-directed Rollover IRA.
457(b)s can always be rolled over to a Rollover IRA upon a change of employment or retirement.

THRIFT SAVINGS PLAN (TSP)

A Thrift Savings Plan or “TSP” is a fairly new retirement plan created by Congress in 1986. This retirement plan is exclusively for employees of the Federal Government and members of the Armed Services. Just like a 401(k), eligible employees make tax-deferred contributions to the plan. The funds are not taxed until withdrawn. The Thrift Savings Plan is automatically matched by the employee’s Federal Agency. The investment options for a TSP are among the most limited of all retirement plans. TSP participants can only choose from 6 indexed funds, 5 of which are managed by BlackRock Institutional Trust Company, contracted by the Federal Government. No form of physical precious metals investment is offered. You cannot rollover your TSP to an IRA while you are employed except for a one-time partial withdrawal or IRA Rollover allowed for workers over 59 ½.

Basics of a TSP

A TSP functions similar to other employer-sponsored defined contributions like a 401(k) and 403(b).
TSP Plans are offered exclusively to Federal Government employees and members of the Armed Services.
Contributions are made via payroll deduction and are matched by the government.
Contributions to TSPs are not taxed until distributions are taken from the plan.
The 2023 TSP contribution limit is $22,500.
Once you turn 59 ½, you may take distributions from a TSP with no early withdrawal penalty.
If you take an “early withdrawal” from a TSP, before age 59 ½, you must pay a 10% penalty and ordinary income taxes.
At age 73 TSP holders are required to take distributions called Required Minimum Distributions of (RMDs).
A ROTH TSP option is available to qualifying individuals.
Personal loans against TSP accounts of up to $50,000 are available to TSP holders still on Federal Government payroll.
TSP investment options are limited to only 6 indexed funds; physical gold is not available as a TSP investment.
TSP holders can roll funds from their TSP into an IRA and use those funds to purchase gold upon retirement or leaving their Federal Government job.
TSP holders over 59 ½ can take a one-time partial distribution of their TSP that can be rolled into an IRA and used to buy eligible gold, silver, platinum, and/or palladium.

HEALTH SAVINGS ACCOUNT (HSA)

A Health Savings Account is not exclusively a tax-advantaged retirement savings plan like the other plan discussed, but it can function the same way. The HSA is a tax-deferred savings plan that is available to US Taxpayers with high-deductible health insurance plans. Unlike employer-sponsored plans, HSA plans are often not administered by a third party and are owned by the HSA contributor. Contributions, which are limited to $3,850 and $7,750 per year for a qualifying individual and a family respectively, are not taxed. The funds in an HSA may be withdrawn at any time without any taxes or penalties to pay for qualifying medical expenses including over the counter prescription drugs. If the funds in an HSA are not spent, they rollover year-to-year and can sometimes accumulate large balances. If you withdraw HSA principal funds prior to age 59 ½ for a reason other than qualified medical expenses, there is a 20% penalty, after age 59 ½ the penalty falls to 10%. Profits in an HSA can be withdrawn anytime. You can, in fact, use your HSA to make an approved investment. IRA-eligible physical gold, silver, platinum, and palladium are also HSA eligible investments! Contact Midas Gold Group today to find out how to use your HSA account to buy gold and silver.

Basics of an HSA

An HSA is a savings plan available to qualifying individuals or families with high-deductible health insurance.
Up to $3,850 per year for a qualifying individual and $7,750 for a qualifying family can be contributed every year to an HSA.
The HSA savings can be used for qualifying medical expenses at any time without any taxes or penalties.
The HSA balance can accumulate year-after-year if not used.
You can use your HSA savings to make approved investments including IRA eligible gold, silver, platinum, and palladium.
If you take contributed funds out of your HSA, you will be penalized 20% if under age 59 ½ and 10% over the age of 59 ½.
Profits on HSA investments can be withdrawn anytime without penalty.
An HSA can only be transferred to another HSA, never to an IRA or another retirement plan.
You may use funds in your HSA to make approved investments including IRA eligible gold, silver, platinum, and palladium.

Don’t see your plan listed here?

Don’t be alarmed. Many other plans exist and many others can be used, in one way or another, to purchase gold and precious metals. Call Midas Gold Group to see if your plan qualifies and to understand the process for converting your plan to gold.

YOU CAN REACH OUR RETIREMENT PLAN EXPERTS

to evaluate your plan’s options for owning safe and stable physical gold and silver.

480-360-3000