Hi!
My Father has been talking about wanting to transfer some of his retirement funds from his 401k to a gold IRA. I don't personally think it's a great idea to invest in gold, but he's pretty dead set on doing it and has asked me to look into it for him (he's not that great on the interwebs).
His explanation on it is that he can transfer money from his 401k without penalty to one of these gold IRA companies. I have never heard of this and researching it online has brought up mixed results. For example, he is interested in a company called Advantage Gold. I searched for them online and basically only found their website along with their BBB page. Their BBB rating looks shady and the complaints all seem to be endorsements instead of actual complaints. Their one negative hit on the BBB ends with the customer stating that they endorse the company and they really educated them on how to invest in gold.
I'm worried that my Father is on the verge of being scammed but he really wants to invest in gold through this gold IRA program. I talked to him about a precious metal fund if he really wants to invest, but he says that's a waste because of the ongoing fees to keep the fund open, the Gold IRA includes only a one time fee to transfer the funds.
TLDR: Does anyone here have experience with Gold IRA's? If yes, do you have a company that you have worked with that you would recommend? Is it simply a scam?
Submitted May 15, 2017 at 07:44AM by poundt0wn http://ift.tt/2qJ88L0
