Is There a Fidelity Gold IRA? What Fidelity Investments Offers
A gold IRA is a type of investment account that is used for retirement. In a gold IRA, you can hold metals like gold and silver in an account, which is then saved for your retirement. Traditionally, an IRA is backed by stocks and bonds, but with a gold IRA, the account is backed by physical precious metals.
Essentially, with a gold IRA, you can buy gold investments now at their current market price, and then allow them to grow tax-deferred. Many people who have had stocks and bonds in their IRAs are now making the switch to a gold IRA because the precious metals market tends to perform much better than paper assets during times of economic uncertainty and high inflation.
A gold IRA, also called a self-directed IRA, is a retirement account that is controlled by the owner of the account. In other words, you get to choose what goes in there. In this case, you are putting precious metals like gold, silver, platinum, and palladium into these accounts. Investors do this because they know that gold and other precious metals tend to do well when the economy is faltering. Though you can invest in things like gold stocks or even gold mining stocks, it’s not the same as physical gold investment options.
How Does Gold Investing Work in an IRA?
To have a gold IRA, first you must create a self-directed IRA, which means you decide what investments are held in the account. In the case of a gold IRA, precious metals are chosen, but only certain metals are allowed per IRS rules.
Once the account is established, you can buy tangible assets like silver coins or gold bullion and store these metals in a depository, tax deferred, until it’s time for your retirement. Owning physical gold comes with many benefits, especially when it’s part of your investment portfolio, and holding physical gold in an IRA can bring more benefits than other types of investments, especially during times with a lot of market volatility.
There may be a minimum investment requirement depending on the company you choose, and there may be other fees and costs associated with a gold IRA. These include storage fees (metals are stored in high security vaults) and annual fees, plus the company that manages your IRA, the custodian, may also charge fees.
The Benefits Holding Physical Gold in an IRA
There are many benefits to investing in physical gold, especially when it’s in an IRA. First, when you have a gold IRA, you get tax-deferred growth. This is a great benefit if you believe precious metals will continue to rise in stock.
However, if you have this type of investment, you can only hold physical gold or other precious metals. You cannot invest in stocks, bonds, or mutual funds. However, when you buy the precious metals and hold it in an IRA, it will (ideally) grow and rise in price over the years, and you don’t have to do anything.
Does Fidelity Investments Offer Gold IRAs?
To open a precious metals IRA, you need to work with a company that offers them. Though Fidelity is a highly regarded company in the financial services industry, currently, they only offer traditional IRAs, not gold or other self-directed IRAs.
What Type of Fidelity Account Can You Have? What are the Services?
Fidelity is one of the most well-known and well-respected financial institutions in the world. The company offers many investment products including stock and ETF trades, and if you are still interested in the gold industry, you can get a gold ETF from Fidelity.
Here are some of the services and diverse investment options that Fidelity offers:
Open a Brokerage Account
You can open a brokerage account with Fidelity, which allows you to buy and sell investments for more than 75 funds. You can also continue your investment journey and open an account to trade more than 14,000 mutual funds and ETFs. This is one of the standout features of a huge company like Fidelity.
Investments that are Customized for You
You can also get customized investment strategies, which can include gold exposure if you want it to. Fidelity has Wealth Management Services, which allows you to take control of the investment process by working with a team to meet your financial goals. By working with a Fidelity representative, you can make informed decisions and create a diversification strategy for your investments and retirement savings.
Wealth Management Services
Fidelity also offers wealth management services. These include investments like private equity, commodities, and hedge funds.
Fidelity organizes and structures investment strategies for high-net-worth individuals and families. You can work with a dedicated wealth manager to create a personalized investment plan. The company is known for it’s mutual funds. You can choose from more than 200 mutual funds, and all of them are categorized into groups depending on what type of investment mix you are interested in. They also give you access to more than 650 funds.
Planning for Retirement
Fidelity also offers retirement services, which range from retirement planning and extensive educational resources to reviewing retirement portfolios and strategic planning for a retirement strategy.
Does Fidelity Offer Gold Products?
Though Fidelity doesn’t offer physical gold investments to its clients, there are ways to invest in metals through Fidelity without taking physical ownership of a metal. So, you can’t specifically buy a gold American Buffalo or a silver American Eagle, but you can do the following:
Precious Metals
No, you cannot go to Fidelity and say you want to add a gold American Eagle to your Roth IRA, but you can definitely invest in mutual funds that invest in gold, silver, mining companies, and more. Fidelity Precious Metals and Mining Fund is a long-term option from the company to help meet your investment goals with long-term growth even with market fluctuations.
You can also look into Fidelity Brokerage Services, which offers two different precious metals funds that invest in precious metals like gold and silver. These include the Gold Bullion Trust-Shares and Gold Miners Index Shares.
Precious Metals ETFs
Fidelity’s commitment to offering options for the many investors interested in precious metals doesn’t stop there. It also offers precious metals ETFs with gold, silver, platinum, and palladium exposure. One of these is the Fidelity Pure Gold Shares, which has gold exposure, only. There is also the Pro Shares Fund Series Trust – Silver Trust. This allows you to gain exposure to silver.
There are also some short-term precious metals options in addition to those mentioned above. One option is the Fidelity Gold and Silver Shares, and another is the Fidelity MSCI Index International Gold and Silver Fund.
There is only one mutual fund that Fidelity offers that invests in gold. It is Fidelity Select Gold Portfolio.
Though the company doesn’t specifically offer a Fidelity gold IRA, it does have a precious metal’s backed IRA. You can open the account with only $1,000, but there is a minimum annual holding requirement of $1,500 and you can only hold a max of 200 ounces. What are Fidelity’s fees? There are no account fees for holding and converting, but there is an annual storage free of $50.
Finally, Fidelity offers certificates of ownership for precious metals. Just keep in mind that there are associated fees with trading, which range from $19 to $55 per transfer.
Various Mutual Funds
Mutual funds are investment companies that pool the money from investors and invest that money in stocks, bonds, and other asset classes. Mutual funds are run by professionals, and when investors start investing in these funds, they get diversification, professional management, liquidity, and much more.
In the US, there are more than 10 million investors who put money into mutual funds. The average investor is between the ages of 48 and 64, and they have an income of $48,000 to $55,000.
Fidelity is one of the largest mutual fund companies in the country, and it has around $1 trillion in assets. It has hundreds of mutual funds and billions invested. Fund managers will manage mutual funds and investments based on the individuals needs and risk tolerance. The mutual fund managers also run portfolio management, research, executing trades, create reports, and more. All of these are essential tools for guiding investors to make well-informed decisions.
EFTs – Exchange-traded Funds
Exchange traded funds (ETFs) are similar to mutual funds, though they trade like stocks. These funds also offer investors more diversification and exposure. The main difference between ETFs and mutual funds is that the ETFs are cheaper to operate, and they have lower fees and taxes.
You can buy or sell ETFs any time, as they are traded on exchanges. You also don’t pay any type of additional commissions.
There are two ETFs available from Fidelity that invest in precious metals. These are Fidelity Precious Metals & Mining Fund and Fidelity Pure Gold Trust.
Though you aren’t directly investing in precious metals, by investing in an ETF, you often get similar performance. This is because ETFs are usually created to track, or reflect, the performance of its underlying asset.
Since you can buy or sell ETFs at any time, they are a convenient way to invest in precious metals and attractive option for those who aren’t the most experienced investors, as you don’t have to put a lot of money into it.
Shares of Stocks
Buying stocks allows investors to have fractional ownership in a company, and as a result, you also have ownership in their profits. When you buy a stock, you are now the partial owner of the company. It’s worth noting, however, that as a partial owner, when the stock prices rise, you can make a profit…but when it falls, you can lose money, too. This is one of the potential downsides of investments.
The good thing about investing in stocks is that it allows investors to choose the exact stocks they want to invest in, and you can invest in as many or in as few as you want. This allows you to invest in a diverse range of assets.
Traditional IRAs (No Gold IRAs)
Finally, you can better meet your retirement goals by opening a traditional IRA from Fidelity. To be eligible for an IRA with Fidelity, you have to have earned income and contributed to an employee savings plan or a SEP IRA, if you are self-employed.
Most people don’t fully understand the way an IRA works, which makes it a difficult investment. Since people don’t recognize what the IRA really is or does, they may make some poor investment decisions, which ultimately can lead to the loss of capital or even the loss of retirement funds.
Fidelity does offer a number of IRA products and all of them can help you meet your goals for retirement. There are IRAs that are designed for people with a wide range of income levels, different account types for different types of goals, and many other options. As with any investment, it’s important to do thorough research and understand market conditions as you go through the decision making process.
>> Visit Fidelity’s Official Site
While the name holds a TON of weight in the financial services industry, their fee structure may not suit everyone. Try looking into one of these gold specialists before making a decision:
Fidelity Investments – Gold Investments Without a Gold IRA
Fidelity Investments is one of the most trusted names in the financial industry, offering a wide range of investment options including stocks, ETFs, mutual funds, bonds, and retirement accounts.
While Fidelity does not directly offer a precious metals IRA, it allows investors to gain indirect exposure to gold and other metals through ETFs and mining company stocks.
To open a self-directed precious metals IRA, investors typically work with a third-party custodian while using Fidelity’s brokerage services for broader portfolio diversification. This makes Fidelity a solid choice for investors looking to balance traditional assets with alternative options like precious metals.
You can learn more about the trading tools available from Fidelity Investments, as well as other detailed information about their offerings by checking out their website.
