A friend called me the other day and said he was getting scared about all the news about a financial collapse. He said he was going to take his I R A cash it in, take the 30% penalty and buy precious metals. I said NO!!!!!!!! NO WAY you don’t have to pay any penalty.
Did you know that you can convert your I R A, 401K or most any other type of retirement acount to whats called an IRA LLC. I am sure by now most people know that the banks are on the verge of collapse and it’s only a matter of time. Did you know you could convert your retirement account to gold and /or silver? NO PENALTY. So when my friend asked me I remembered an E mail I received from Bix Weir. All it said was that you could make the conversion and he made a recomendation of who to use.
I R A LLC? YES IT SOUNDS ALMOST TOO GOOD TO BE TRUE. Now that I had commited to help my friend I had to do the research and see what was involved. What I found was that this is relitivly new by way of Companies that will handle all the paperwork for you. They all seemed to start around 2012. As the term IRA LLC indicates your going to be an LLC and need people to set this up. I have found that the companies that do this have a LARGE range of what they charge. The ones that have a set fee that is low usually charge more for the Precious Metals. One had high fees and low metals cost. One was just a thief and wanted to make money on both ends. Fortunately I had a bit of knowledge to work from.
I found one at about $4.00 over spot and I found one at about $2.90 over spot. When you’re exchanging an IRA or 401K you are usually talking about thousands of dollars in what is called premiums. That is the cost over the current price as listed at KITKO. So I asked knowing that today the spot price of silver is $16.51, CHEAP, and they would sell it to me for around $19.51. That’s the bad news. The good news is you can have these companies set up the LLC and take care of all the necesary Tax form’s, paperwork etc. and then you can buy the metal’s anyplace you want. I know one metals dealer that sells silver at $2.29 over the spot price. That is a good deal. So this is how it works.
1. You set up a new self directed IRA gold/silver account. That enables you to move your money from the existing institution to a new one. (custodian)
2. Your new custodian ( the institition holding the account ) requests a transfer of your retirement funds from the current custodian of your IRA, 401K, 403B, SEP IRA or Keogh plan. The transfer is tax and penalty FREE.
5. You open a checking account in the name of the LLC at a qualified bank and your custodian sends a check to your LLC bank account.
6. BUY YOUR GOLD AND / OR SILVER
Some fees are annual usually under $100.00. If anyone has a retirement account and does not do this I would have to think your head is in the sand or have some type of mental deficiency. You see if you leave your money in the bank it’s going to be taken. NO MATTER WHAT FORM ITS IN. As I have indicated in many articles and I can see it like I see my fingers typing. One day your going to wake up to find a Bank Holiday has been declared and like Greece you will not have access to your money. But in the U S the Banks may not re-open.
In preperation for this article I contacted multiple Companies for information as to the process. I told them I wanted to convert my (non existant) IRA to an IRA LLC. Yes I did tell a lie. I bought my gold and silver years ago. I told one of the Companies I was writing an article. I just received an e mail from the Company It happened to be the one I felt most comfortable with. They were also the least expensive. I would not normally do this because I learned in my previous business that no good deed goes un punished. That said. If anyone is interested in converting your reirement Account which your going to loose if you don’t.
I have found a new Company that does a much better job than the prior company I had recomended. If you are interested contact me.
GET YOUR MONEY OUT OF THE BANK AND INTO PRECIOUS METALS.
EARLIER TODAY I WATCHED A VIDEO OF MARTIN ARMSTRONG ON THE ALEX JONES SHOW. He said he just came back from Europe and the Governments are closing down all the coin shops. This corresponds with the NWO plan to do away with currency so they can take what they think you owe in taxes straight from your paycheck. This was discussed at the last Bilderburg Meeting. You see they don’t want an underground economy which precious metals will create.
TELL EVERYONE YOU KNOW AS SO FEW PEOPLE KNOW THIS IS AN OPTION AND ARE GOING TO TAKE A 30% PENALTY FOR EARLY WITDRAWAL OR LOOSE THE ENTIRE ACCOUNT WHEN THE JACK BOOT THUGS CRASH THE SYSTEM.