If you remember, last time I was in the process of setting up my gold IRA with a company called Regal Assets. Well, today I’m proud to announce that the process is now completed. It took me long enough and countless hours of research, but it is done.

How much did I invest?

Truth be told, my investment is quite substantial. I invested close to 150 thousand dollars into gold with Regal Assets. I’ve been told that that is far above the average investment amount which puts me in the top 1% of precious metals investors.

What I bought is mostly bullion. Bars made up the bulk of my order and coins made up the rest. All gold, no silver or other precious metals. I chose this distribution based on what the guys over at Regal Assets told me to do. I trusted them, so I took their advice.

I didn’t store the gold myself

This is also something that was recommended to me by my trusted “dude on the inside”. I mean, it’s not like my house is built like a bank so I opted instead to store the gold at the main depository that Regal deals with. On top of that, I think that the IRS doesn’t allow people to store precious metals that are part of a gold IRA themselves. Something about insurance probably, but it’s probably for the best. I mean how hard would it be to break into somebody’s house and steal some gold when compared to breaking into a Nationally accredited depository‘s vault? Pretty easy versus pretty damn near impossible.

I could have had better timing

One thing that concerned me a bit is that the price of gold when my transaction went down was kind of high. I could have waited it out and tried to buy it when the price per ounce dropped a bit more so that I would have ended up with more for the money, but it’s not a huge difference. And considering that the price of gold just has to stay high in relation to the value of the US dollar, I’m still in a pretty good position.

So now that that’s done, I can move onto something else. That’s good because I was getting pretty tired of all this process. It’s pretty tiring over all and I’m glad it’s over. Now let’s just hope it pays off in the long run and gets me some stability when I get old.

My hours of research have finally been rewarded. I’m pretty sure at this point that the gold company that I’m going to be dealing with will be Regal Assets. I’ve done my homework and I’m pretty sure at this point that my money will be well invested.

Reasons why

regal-assetsSo why you ask have I set my sights on Regal Assets? Well, after doing a whole lot of research, the reason is so obvious to me: they are the best. What I mean by that is that they offer the best services to serve my specific needs.

They don’t have a whole lot of different exotic coins, but that’s not what I’m looking for. What I need is high purity gold that I can legally put into my retirement account. That’s it. As it turns out, that is just what Regal specializes in.

I have to say though that I had a hard time see past the many reviews of this company online. If you do what I did, you’ll see that the reports from people who have done business with them before is overwhelming positive. Suspiciously so.

I have a gut feeling that most of the websites out there are designed from the ground up to give fake praise to Regal by writing fake reviews. I also noticed that most of those sites have disclosures on them stating that they are “receiving compensation from the companies they recommend”. That sounds to me like getting paid to say good things about them.

But still, Regal Assets was getting good reviews from third party sites that obviously don’t receive compensation from them. Sites like Ripoffreport.com and the Better Business Bureau all had glowing customer reviews. But it’s not just that the reviews were positive, it’s that there was barely any negative ones to be found.

My call with them

What I did next was call a whole bunch of companies that I had read good things about and to be honest, most companies hire service reps that don’t seem to care about you unless you tell them that you’re holding 100k in your hand and that you’re looking to spend it in gold with them immediately.

This is something that Regal Assets seemed to avoid though and the service rep I spoke to (I think his name was Jason or something) was very polite and helpful. And he didn’t keep pushing me to know if I was going to be buying immediately or not. The experience was good.

On top of that what I learned is that all companies charge a fee to store your gold for you, because apparently the government won’t let you store the gold in your retirement account yourself without taxing the hell out of it. But the good thing about Regal is that they only charge something like 200 or 300 dollars per year as opposed to the percentage of total gold owned that most other companies charge. Given the amount I’m looking to invest, this is very advantageous for me.

Getting my papers in order

Now before I make a final purchase, I need to get some paperwork in order. It might take a few days or even a couple of weeks (you know how the IRS is) but I’ll get through it eventually. I do hope that it goes well. I’ll make sure to write up an update when the transaction goes through.

In my last post, I’ve been going on about how I have been thinking about buying up some gold for my retirement. Problem was that I didn’t have much of a clue about the different services and companies out there.

So, over the past few weeks I’ve been doing research. Lot’s of research. As it turns out, there are TONS of companies that do precious metals and gold IRAs and it’s been hard to figure out which one is better than the others. I suppose that they all have their strengths, but what I’m looking for is very specific: rollover my current IRA into a gold IRA.

capital-gold-groupBut I’m getting closer. I’ve narrowed it down to a few companies, one of them being Capital Gold Group. I’ve read through some of the reviews for them over on ripoffreport and they look like a clean company.

Anyway, I’ll give them a call and see what happens.

For my first blog post on this brand new blog, I figured I’d talk about something serious: money. To be more specific, it’s about my quest to find the best place to buy gold.

Let me explain.

I’ve been working hard for a long time now and throughout my life, I’ve managed to pile up a decent amount of cash. I’ve made some good investments and some bad investments but in the end, I’ve managed to come out on top.

But I have been thinking lately. What if all that hard work were to go to waste? There is a possibility that the money I’ve earned turns into worthless toilet paper (well, not completely worthless I suppose…).

The thing is that most of my investments are in paper assets and to be honest, I’ve done pretty well with them. However, their value is all based on the current value of the almighty American dollar. If the dollar does well, so do my investments and so do my 401ks.

But should the USD take a plunge, so does also my assets and retirement accounts. And let’s be honest, it’s not like the US government has been doing great in keeping up the value of the dollars in my pocket. The printing press has been going non stop at a most ridiculous rate. That’s just not good.

So in an attempt to preserve the fruits of my lifelong labor, I have made the decision to invest a good chunk of my money into gold. Why gold, well I’ll let you search around online for why it’s a good investment, but I’ll just say that it’s kind of a safe haven and protection against a potentially unstable currency (i.e. the US dollar).

So I’ll be looking around for a good company to do business with, search through reputations and reviews and I’ll also probably call some up to get a feel for them. I’ll keep you guys updated on how things go and what company I’ve decided to do business with.