How to Convert Your 401k Into Gold, Literally

Here’s a scenario: You work for a great company that gives you the option of a 401k that invests in a mutual fund. However, you’re not too excited about the mutual fund that it invests in, and you want to explore other options. Well, did you know that you can convert your 401k into gold & silver bullion? So now you’re thinking, “Well, how do I do that?” Landmark Capital is here to help you figure that out!

Here’s How to Convert Your 401k into Gold:

Former Employer

If your 401k is from a company or companies for whom you no longer work, then you can roll over those funds into a Traditional IRA. Once your 401k funds have been deposited in an IRA, they can be utilized to buy Gold or Silver.  

In-Service Distribution

If you still work for the company that hosts your 401k account, it may still be possible to free up those funds for a rollover. This option, if available, is called an “in-service distribution. “ The great thing about an “in-service distribution” is that it is not a loan; rather it is an actual distribution of funds that can be rolled over (within 60 days) to a Self-directed IRA without tax consequences. In this case, you would have to ask your current 401k provider if its plan allows for an in-service distribution. If so, ask them how to get started, and they will guide you through the process.

Formally Request Your Employer

If your company 401k does not include an in-service distribution option, you are left with a few additional options. You can get in touch with your company’s Human Resources Department and plan administrator and request that precious metals be included in the company’s 401k plan.

Owners Can Take Charge With Gold 401ks & Silver 401ks

Company owners also can profit from an investment in silver or gold by starting gold 401k and silver 401k plans for the company. Both the business owner and employees can roll retirement funds into the company’s new gold and silver bullion savings plan.  This option maximizes the annual amount that can be contributed on either a pre-tax or post-tax basis for long-term retirement savings.

Brokerage Option

Most 401k administrators offer a brokerage option. With the brokerage option, you can invest in individual securities other than the mutual funds offered in the plan. You could use the brokerage option in your 401k to invest in one of the many gold ETFs that are available. Just keep in mind, though, that the fees with the brokerage option at many 401ks tends to be very high. However, you might see these fees as worthwhile in exchange for being able to invest in gold.

Take Control: Turn Your 401k into Gold

These are the best routes you could take when attempting to convert your 401k into gold. At Landmark Capital, we believe in the power of gold. The idea is that gold, given its innate rarity and historical importance to people, will hold its value no matter what happens to government-issued paper currency. If you’re thinking about how to get involved in the gold market, you can contact one of our professionals at 877.448.2646 or visit our Contact Us page.