Gold IRAs are now becoming a popular choice for many people, as the convenience and fantastic returns it offers to make them a preferable option.
With so many gold IRAs available, you might wonder which one is the best for you. Oxford Gold Group's Gold IRA's reliability and cost-effectiveness are what make them the best option. We will do a comprehensive review of the Gold IRAs.
Main Features of the Oxford Gold Group IRA
Oxford Gold Group helps individuals invest in gold IRAs. You can follow the simple processes to invest in gold IRAs that are much safer and more reliable than traditional IRAs. The main reason is that the gold IRAs are less likely to lose value than other paper-backed investments during uncertain economic conditions.
Purchasing gold IRAs from Oxford Gold Group is the equivalent of investing in gold bullions. The company will hold on to gold on your behalf, and you can collect or sell it after your retirement account matures. Thus, a partner like Oxford Gold Group can help you keep your assets safe.
The Oxford Gold Group partner also helps clients create plans and strategies to increase the value of their portfolios before retirement. Most importantly, investing in gold IRAs with Oxford Gold Group means you will incur lower costs than other companies. The company has a quick and hassle-free process.
Customers who have worked with Oxford Gold Group have even left positive reviews about the company. They have especially been very satisfied with the company's customer support and prices. Oxford Gold Group even has a good reputation on various platforms.
The company has a rating of 4.8 on the Trustpilot platform, while the rating on Consumer Affairs is 4.5 out of 5. Oxford Gold Group also enjoys an A+ rating from Better Business Bureau, while Retirement Living has ranked the company as one of the best for gold IRAs.
Oxford Gold Group History and Background
Though the Oxford Gold Group began operations five years ago in 2017, the founders have over 20 years of experience in this industry. The company's head office is in Los Angeles, and the founders' vast experience has helped them provide exceptional services to their clients.
Oxford Gold Group makes investing in gold IRAs very easy. It even allows you to invest in IRAs for other precious metals, such as silver. You can discuss your retirement needs and goals with the company, and they can help you develop a robust investment strategy.
Some people prefer investing in precious metals rather than IRAs. The Oxford Gold Group can help investors interested in metals since they also invest in gold, silver, platinum, and palladium. However, investing in metals alone no longer makes you eligible for tax benefits that come with a gold IRA.
For instance, the gold IRAs give you tax exemptions on the gold you sell in your retirement account. You won't have to worry about any taxes you would have to pay if the value increases.
Oxford Gold Group Product & Services Offerings
The best thing about Oxford Gold Group is that you can buy and sell gold, silver, and other precious metals from your home. You can purchase bars, coins, and other products from the company.
Moreover, you can invest in gold or silver IRAs. The fast and easy process of opening a gold IRA has helped Oxford Gold Group earn an incredible reputation in the industry. You can apply for it through your phone on its website. The company only needs a few of your details, such as Beneficiary information.
- Driver's license
- Copy of your retirement account
After setting up your account, you can deposit funds in it by paying cash or rolling over assets from your current IRAs. You will get gold bars and coins for the money you deposit into your IRA account.
The Oxford Gold Group allows you to keep your gold bars and coins in a depository. Though you can check the gold, you cannot withdraw it. Withdrawing your gold before the age of 59½ will result in a 10% premature withdrawal penalty and other taxes.
The Oxford Gold Group has various partners who will manage your account on your behalf. You can discuss your retirement goals and needs with a partner to come up with a suitable investment strategy.
Once your retirement account matures, you'll have two options. You can withdraw the gold or liquidate it for cash. You can choose any of these options and inform your Oxford partner about it, and they will take care of the rest.
Oxford Gold Group Pricing Information
The Oxford Gold Group's pricing is relatively lower compared to other companies. You have to pay a yearly maintenance fee of $175 for accounts with a lower valuation than $100,000. The maintenance fee will be $225 if the valuation exceeds $100,000.
Remember that all the administrative fees are tax-deductible, and the maintenance fee covers expenses for storage and will not charge for brokerage or shipping fees.
Oxford Gold Group can offer you rebates on your maintenance fees if you maintain a longer account. The rebate can run for many years, but it also depends on your account's size.
Oxford Gold Group Storage Options
Once you invest in a gold IRA, the company will not give you the gold bullion and will instead store it in a safe facility. You can choose any one of the various IRS-approved facilities to keep your gold in a safe place.
For instance, you can give your gold to the DDSC (Delaware Depository Service Company) or store it in Brinks Global Services, USA. Both give you options to store your gold in different states without taxing precious metals. Therefore, you can choose any facility nearby and visit it regularly to check on your gold.
A critical thing many investors worry about is that something might happen to their gold in the storage facility. But, you won't worry about that with Oxford Gold Group since Lloyd's of London insure all the depositories of the company.
Oxford Gold Group's Minimum Investment
The minimum investment you need to make for the gold IRA is $7,500 with Oxford Gold Group. However, if you purchase any precious metals outside of an IRA, then the minimum amount drops down to $1,500.
How to Fund Your Oxford Gold Group Gold IRA?
Once you open a gold IRA with Oxford Gold Group, you can use two methods to fund it. The first is the IRA account rollover, and the second is the trustee-to-trustee transfer.
The IRA account rollover option means you will get a check from your existing IRA custodian. You will have to deposit the check into your gold IRA account within 60 days. Failure to do so can lead to fines and taxes.
On the other hand, the trustee-to-trustee transfer means you move some or all of your funds from your current IRA into a gold one. It can take five business days for the custodian to transfer the funds. Usually, people choose bank wires for the trustee-to-trustee transfer.
The best thing about the Oxford Gold Group's trustee-to-trustee transfer is that there are no tax or IRS penalties.
No matter which option you choose, the Oxford Gold Group will help you with the entire procedure. The company can assess your financial conditions and other factors to advise the best method for your gold IRA.
Reasons to Choose the Oxford Gold Group
- They have a lot of information available on their website
- They offer assistance throughout the IRA rollover process
- Complete control over your gold IRA account
- Easy signup process that only takes a few minutes
- Experienced representatives that can help you with your investment strategies
- Helpful customer support
- Positive comments and feedback from customers on different platforms
- Reasonable annual charges and flexible pricing
- Reliable depositories that provide coverage for your gold bullions
FAQs
What's the process for liquidating an IRA account?
Oxford Gold Group has the following two programs that allow you to liquidate your gold holdings:
- Buy-back Program
- No-fee Liquidation
The buy-back program is the better option since it involves getting cash for your gold.
Which retirement accounts are eligible to rollover?
These are the retirement accounts that the Oxford Gold Group allows you to roll over into your gold IRA:
- 401(k)
- 403(b)
- 457(b)
- Pension plans
- Roth IRA
- SIMPLE IRA
- Thrift Savings accounts
If you have another account, you can contact the Oxford Gold Group for more information.
Can I monitor how my precious metals portfolio is performing?
You will receive an online account to watch the gold's performance. Moreover, the custodian will also send you quarterly statements about your account's performance.
Can I add more funds to an existing gold IRA account?
Once your account is up and running, you can add more funds. You can either do it yourself or ask your Oxford partner to handle it for you.
Does Oxford Gold Group guarantee the rate of return on gold IRAs?
Gold is a relatively stable, safer investment, but some forces can affect its value. Therefore, the Oxford Gold Group doesn't guarantee the rate of return. Contact us today to learn more about investing in Gold IRAs with the Oxford Gold Group.
