Fidelity Gold IRA
If you came here today wondering does Fidelity have a gold IRA, I'm here to share with you that they indeed do offer precious metals IRA services. In my Fidelity Gold IRA review, I'll share with you details about their services as well as share with you my experience in sifting through the 100's of companies offering gold and silver in IRA's, PSP's, 401k's and other pension accounts.
For full transparency, I invested with Goldco , so it's only fair I tell you why in a few brief bullet points.
Even if you have enough money for yourself and your family now, you should start thinking about the funds you will use when you retire. What if you go through a financial crisis and end up not having any money at all? How will you make as much money as you need when you retire?
Here's when individual retirement accounts (IRAs) come in handy!
IRAs let you manage your retirement funds and get some tax advantages to make sure you don't have to worry about anything once you retire. However, managing IRAs is not easy, and you need to pick the right financial moves to get your IRA in a stable position.
How can you do that? You can start by investing in the right assets for your IRA. Gold is one of the best alternatives people can use for retirement accounts since it works as an excellent hedge against inflation. Saving all your retirement funds in cash or currencies puts you at risk of losing most of it due to its devaluation.
Gold and other precious metals often stay the same price when most assets go down, so it's ideal for people looking for a stable asset that can even become more valuable in the future.
Fidelity is one of the largest precious metals dealers worldwide, and while that tells you it's a reliable one, it doesn't mean its products will fit you. Read this page to find out if Fidelity is the precious metals dealer you need for your gold IRA!
What Is Fidelity?
As mentioned before, Fidelity is a precious metals dealer that focuses on paper gold in the form of stocks, ETFs, and mutual funds. While this company offers other precious metals such as silver, platinum, and palladium, they are not what Fidelity is popular for.
People often try Fidelity because, although its minimum initial investment is kind of high, it doesn't have any additional fees or commissions to either buy precious metals or withdraw your funds. Buying Fidelity gold is ideal for portfolio diversification.
Apart from that, up to $1,000,000 of your funds are insured if you get them from this company, so you can feel safe whether you are buying physical gold or paper gold.
How Can Fidelity Help Investors Looking for Products in the Precious Metals Market?
There are many dealers in the precious metals market, and while all of them offer similar deals when it comes to gold bullion bars or coins, their features can make them shine brighter than others.
Hence, investors looking for precious metals online should always ask themselves how the dealer they want to use can help them apart from letting them buy products from precious metals sales.
Suggested Reading: Gold IRA Benefits Explained .
Fidelity offers excellent services to help investors make wiser moves while investing in gold for their IRAs. Here are some of them:
Retirement Planning
You shouldn't go for a precious metals dealer that doesn't help you with retirement planning or at least offers some retirement options to its clients. Although you can't create a self-directed IRA through Fidelity, it has some individual and employer-sponsored retirement alternatives available for its users.
Investors looking forward to getting physical precious metals for their retirement accounts can get Gold American Eagles, Silver American Eagles, Platinum American Eagles, Gold American Buffalos, and bullion bars.
However, the truth is this company has a limited stock of products and planning options for IRAs since you can only open a traditional, Roth, or Rollover IRA through it.
Wealth Management
Unlike the retirement planning service, not all Fidelity users are fit for the Wealth Management program. If you want to apply for it, you need to have a net worth of $1,000,000 or make an individual investment of $200,000 through the Fidelity platform.
Once you get approved for this program, a professional wealth manager will tell you everything you need to do to manage your funds wisely to keep you from losing them. This feature is ideal if you need a custom financial plan but don't want to spend all your money on financial advisors.
Customized Investing
Similar to what happens with the Wealth Management program Fidelity offers, you need to have at least $200,000 in assets to use the Customized Investing feature.
When you start using this function, the Fidelity platform shows you the investment strategies you should try to improve your average returns and reduce risk. Needless to say, the strategies this feature shows are based on the precious metals Fidelity has available for you and your past trades.
Financial experts from this company may also check your gold portfolio to see what you can improve.
Brokerage Services
Getting to the last feature this precious metals dealer has for you, we have its brokerage services. As it happens with other platforms, you can buy and sell gold, silver, and platinum through this platform.
What makes Fidelity different from others? In a nutshell, it doesn't ask for additional fees or commissions to buy or sell precious metals, so you don't have to spend more money than the one you use for your investments on it.
Fidelity has a user-friendly platform, so making precious metals transactions through it is not difficult at all.
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Can I Get Physical Precious Metals from Fidelity?
Although many people think you only can get paper gold from Fidelity, you can also buy physical precious metals through it. The problem with this company is that it doesn't have as many physical options as others on the market since it focuses on gold-related products such as stocks, ETFs, and mutual funds.
For this reason, and many others, Goldco is a much better choice in my opinion.
It's worth noting the stock of physical precious metals Fidelity has for its users is a bit limited since it only includes gold bullion bars and the rare coins mentioned earlier in this review.
What About Other Precious Metals?
Fidelity gold is the only physical asset you can get from this company, so it doesn't offer physical silver, platinum, or palladium. However, this doesn't mean you can't get silver from this company since you can get stocks or ETFs for a silver mining company to profit from it.
The Direct Investment program this company offers seems to work better with gold than with other precious metals since it focuses on gold mining stocks and other forms of gold IRA. While this may seem a disadvantage to many people, it's not a problem for investors who only have their eyes set on gold investments.
Gold-Related Products Available for Fidelity Users
As mentioned before, Fidelity's greatest strength is the number of gold stocks and precious metals' mutual funds. This makes it ideal for people who want to purchase precious metals without going through the hassle of storing them anywhere or getting them delivered to a specific place.
Fidelity is affiliated with the Securities and Exchange Commission, so you don't have to worry about it not being reliable or offering unsafe investments. Does Fidelity offer precious metals IRA? Yes, and that means you can use the following assets for your gold IRA portfolio.
Mutual Funds
Mutual funds are some of the best options you have when looking for an alternative to physical gold.
Some examples of mutual funds investing in gold IRA from this company are the Fidelity Select Gold Portfolio (FSAGX) and the Fidelity Advisor Gold Fund (FSHAX), and while both focus on trading precious metals, the former invests about half of their gold while the latter invests a third of it.
Why should you invest in Fidelity gold mutual funds? Because they offer an affordable way to diversify your portfolio. Investing in these funds is perfect for people getting bonds and stocks for longer-term investments.
ETFs
Investing in exchange-traded funds is not that easy if you are not experienced at investing in gold stocks and Fidelity gold. Nonetheless, this company does its best to guide you through the process smoothly with its research tools and investing analysts.
You can get ETFs from industry leaders such as iShares Gold Trust and Fidelity. Why should you invest in Fidelity gold ETFs? Mainly because they are tax-efficient and have high liquidity, which makes them perfect for individual retirement accounts of any kind.
Stocks
Stocks are the must-go option for many investors who don't want to invest in physical gold for their gold IRA, and Fidelity knows that.
Hence, it offers excellent mining stocks, such as Goldcorp inc. and Newmont Mining Corporation, which will help you directly profit from them without needing to spend any money on storage fees.
However, you need to spend some time to decide which stocks are better for you since you don't want to invest in a company that won't give you as many funds as you need or that has a sketchy payout ratio.
Benefits of Using Fidelity for Gold IRAs
Fidelity offers many benefits to its users, and those perks have kept it active all these years. Firstly, you don't have to pay any fees to either start using this platform or take your money from it.
Many platforms try to charge as many fees as they can, and this one took them all out to let you invest all your money in your gold IRA. Safety is also a priority when investing in different assets, and the insurance policies Fidelity follows make it safer for investors to invest in paper and physical gold.
As mentioned before in this review, $1,000,000 of your funds are insured in case anything happens to them. Apart from that, since Fidelity is one of the largest gold IRA companies in the world, you don't have to worry about it being a scam or anything similar.
Drawbacks of Buying Precious Metals from Fidelity
Although Fidelity is an excellent gold IRA company, it has some disadvantages you should take into account before using it for your retirement account. The main problem with this platform is that it doesn't let you create a self-centered IRA, which only leaves traditional, Roth, and rollover alternatives available for you.
On top of that, it doesn't offer many physical gold alternatives, so it's difficult for beginners in this world to start investing through Fidelity since they don't often know that much about how stocks, ETFs, or other advanced assets work.
Lastly, even if you can get physical precious metals from this gold IRA company, its minimum deposit is too high for many investors who may just want to invest in gold for the first time or who want to get rare coins such as the Gold American Eagle coin as collectibles.
Bottom Line - Should I Buy Gold IRA from Fidelity?
Even if you can't make a self-directed retirement account, gold IRAs from Fidelity can offer excellent returns due to all the paper assets available for you on this platform. You can use Fidelity to manage a gold IRA, but only if its features address your main concerns and fit your trading style. I used Goldco , but I also have a list of other companies you can find that are very trustworthy on this below article:
This investment company is also excellent if you need an investment advisor who tells you what you need to do to keep you from losing all your money on doing unwise financial movements. The Fidelity representative who helps you understand more things about the market is a professional, so you can trust them.
Are you interested in learning more things about precious metals dealers online? You should dive into our website ! We have many other reviews you can read to know which option is the best for you.