By: Dana Udumulla
Key Points
- Many of the top Gold IRA providers also offer excellent Silver IRA options.
- When scanning the many Silver IRA companies, you may want to consider their customer service, reputation and ratings, fees, educational resources, and investment minimums.
- As silver is a globally recognized, tangible asset, it delivers a cornucopia of benefits to your retirement savings.
Fitting Silver IRA Companies can make potential silver success conceivable. Once you’ve narrowed down your list of options, the pathway to accruing substantial retirement savings through precious metals becomes clearer. Silver is one of the four IRA-allowable precious metals - (alongside gold, platinum, and palladium) - and because of this, tends to receive prominence in the self-directing sphere. If interested in going forward, you may wonder: what should an anticipating investor seek from an ideal Silver IRA company?
Retaining Value While Spanning a Myriad of Factors
Why silver? Silver possesses intrinsic qualities, including scarcity and durability. Silver is relatively rare in nature. Its limited supply grants it the title of an appreciated commodity. Because it’s a tangible asset that’s resistant to corrosion and tarnishing, it’s a lasting precious metal, equally contributing to its long-term value. Not to mention, this asset is typically flooded with global demand and has been recognized as worthy since the days of ancient civilization.
Historically, this asset has proved to accrue a high return on investment. During periods of inflation, people often turn to silver and similar precious metals to try to safeguard their currency. The modern-day portfolio tends to not only includes stocks and bonds, but also has a portion designated for alternative investments. As silver is generally uncorrelated to the tides of Wall Street products, silver can help balance out retirement portfolios and mitigates overall risk.
Silver IRA Companies Should Wear a Badge of Honor
Working with investors – especially working with investors saving for their retirement – requires patient and diligent individuals who understand the emotional ties that some may have to their money. This is an entirely natural reaction, and a well-trained Silver IRA company will be embedded in a company culture that understands this sentiment. Therefore, it’s recommended that the first element you look for in a prospective Silver IRA company is their reputation.
Getting an idea for the company’s philosophy and general attitude will seemingly be easy. By skimming through reviews, particularly those available on Better Business Bureau (BBB) and Trustpilot, you can catch on to the typical dedication a Silver IRA company has for their clientele.
Ensuring You’re Getting That Bang for Your Buck
When comparing the fees of different Silver IRA companies, several key cost factors may be considered. These include setup fees, annual maintenance fees, transaction fees, and storage fees, if applicable for your prospective custodian. Generally, these fees vary widely. Sometimes, Silver IRA companies offer waivers for high-value accounts. In other scenarios, companies offer a flat-rate fee or one that’s percentage-based.
Having insight into your fiscal budget can make designing the framework for your precious metal investment easier. Additionally, you may want to consult a tax advisor or financial professional to cultivate a game plan that best suits your needs.
Your Future Silver IRA Company Should be Knowledgeable
An innate understanding of all precious metals, in conjunction with IRS codes and prohibited transactions, should be prevalent in your imminent Silver IRA companies. Nevertheless, sometimes employees are not as rigorously trained in one company in comparison to another. A great method for checking a company’s knowledge is to peruse their educational materials.
Articles, blogs, live events, informational PDFs and videos are just a few of the resources that can be utilized. It’s strongly encouraged that you hunt for a Silver IRA company presenting an array of resources to help further develop your precious metals investing expertise. Furthermore, you could also put this to the test by speaking directly with a custodian. You should be able to get your silver-related questions answered in a concise manner.
Silver IRA Companies are Supposed to Serve You
When a concern arises, you want to speak with someone directly. Long delays between your initial call and a return response can be frustrating and off-putting. When a time-sensitive investment opportunity emerges, or even when a simple question requires an answer to move forward, the last thing you want is to be stuck navigating through automated messaging systems. A live person, who maintains a friendly disposition and treats their caller with respect, is of the upmost importance.
In the end, customer satisfaction is imperative for building a well-regarded reputation. It is the foundation for acquiring positive reviews. To achieve this, Silver IRA companies need to be deliberate and intentional when training and creating their organization. They need to be informed of their industry’s common pain points and instill a structure in place that will prevent them occurring to their greatest ability.
Madison Trust as a Silver IRA Company
Madison Trust strives to render exceptional service for all your exciting opportunities. We accomplish this by supplying an extensive range of educational resources, all while offering a flat-rate fee structure. Regardless of how much your Self-Directed IRA (SDIRA) grows, your fee will always remain the same. We believe it’s unfair to pay more just for having your investment thrive.
Our team of experts is always available to assist, whether it’s answering your questions, guiding you through the online portal, or helping you deepen your understanding of SDIRAs. We make it our mission to prioritize response time. We never want you to be in the dark, uncertain about the status of your investment. With an A+ BBB rating, over 2,000 5-star reviews, 20,000 clients, and $4.8 billion under custody, we know we can stand amongst the highest rated Silver IRA companies in the industry.
Self-Directed IRAs: The Silver Lining Playbook
Self-Directed IRAs allow your gains to grow in a tax-advantaged environment. Silver, an asset that not only withstands the test of time but also crosses borders, is likely to continue appreciating. For those who want to take the reins on their retirement, SDIRAs are exceptional tools, offering account holders the freedom to make their own investment decisions without being limited to preset options.
Poised for Exploration?
If you’re ready to get to mining – figuratively, of course – Madison Trust may be the Silver IRA company that accommodates your needs. Schedule a free discovery call and begin crafting the first chapter of your self-directing journey.
