Genesis Gold Group Review

Before we get started:

Inflation and rising interest rates has destroyed many people's savings.  Many investors feel defeated and helpless, but you can fight back.

Opening a gold IRA can sound complicated, but it's really not.  

That is why we created a list of our most trustworthy investment companies, to make comparing and choosing the company best suited to your needs as easy as possible.

>> CLICK HERE to read our list of the Top 5 Gold IRA Companies. <<

Look to see if the Genesis Gold Group was selected to our "highest recommendation" list this year!

Or...

Get a FREE Gold Investing Packet from our #1 recommendation, by clicking the button below:

About Genesis Gold Group

Genesis Gold Group is a faith-based precious metals dealer in Beverly Hills, California. It was officially opened recently on the 24th of August 2022 by Jonathan Rose, Jacob Diaz, and Brad Garret.

They have a combined experience of over 50 years in the precious metals industry and wealth preservation.

The Genesis Gold Group believes that empowering faith-driven stewardship with precious metals is essential to an investor's portfolio for long-term wealth and security. Gold and silver are God's money, found on the Earth's crust.

They enforce discipline, self-reliance, self-constraint, discipline, and balance in a person's financial planning.

Their Products

Genesis Gold Group offers gold, silver, palladium, and platinum products to their esteemed investors in America and around the world. They have a diverse selection of rare coins, including American Eagles, Canadian Maple Leafs, British Queens Beasts, and more.

They also offer a wide range of bullion products from top IRA-certified refiners in various sizes and weights.

Their Services

In addition to offering various metals for purchase, Genesis Gold Group provides several other services, such as asset protection strategies, physical storage through third-party vaults, and portfolio management options with IRA accounts.

They also offer educational articles and blogs for those looking to learn more about precious metals investing.

The company is also known for its excellent customer service, offering fast shipping and competitive prices to its clients. On top of this, they provide a secure online platform where investors can easily view live price updates, track orders, and manage accounts.

Why Precious Metals

Unlike stocks and mutual funds, you can hold gold and silver in your hands and store them in your house. They can't be erased or wiped away like paper investments.

Genesis Gold Group metals are pure, so they can't be destroyed by water or other elements. They don't need maintenance or any other kind of care. They simply just grow in value while lying dormant.

You can't create precious metals out of thin air like digital and paper forms of money, and they also don't change form as currencies when the government feels like it.

In addition, you can use them in any part of the world, and they have an intrinsic value that can't be taken away by government fiat.

Precious metals don't usually follow the same stock market trends as other investments and typically appreciate in value. This makes them a great hedge against inflation since their prices tend to stay stable, if not rise, over time.

Precious metals are already rare, and they will continue to be as people continue to discover more uses for them.

Currently, India is the largest consumer of gold in the world due to their love of jewelry, and central banks all over the world are now investing in gold to protect their reserves.

Additionally, the demand for industrial metals is also growing due to technological advancements such as electric vehicles and renewable energy sources.

It's often advised not to have your eggs in one basket, and that's true when it comes to investing. Precious metals provide diversification in your portfolio since they can be used as a hedge against other investments, such as stocks and bonds.

Gold IRA

Genesis Gold Group help their investors create a self-directed IRA account to diversify their retirement portfolio. These accounts are just like any other IRA accounts but with a backing of physical gold or silver products.

Types of Precious Metals IRA

Traditional gold IRAs are tax-deductible and allow investors to get a tax refund every year based on contributions made. It also allows them to roll over their existing retirement funds into the gold IRA without incurring any taxes or penalties.

Roth IRAs are funded with after-tax money, meaning investors won't be able to get a tax refund unless they withdraw the funds before reaching retirement age. However, once they reach retirement age, all their withdrawals will be tax-free.

SEP stands for Simplified Employee Pension plan and is designed for small business owners or self-employed individuals who want to save more than what traditional plans allow. These plans offer generous contribution limits and have similar tax advantages as Traditional IRAs.

Setting up Your Gold IRA

Genesis Gold Group lets investors interested in precious metals IRA set up their accounts in three simple steps. They include:

Keep in mind that Genesis Gold Group is a precious metal dealer, which means investors must find IRA-approved custodians to set up a gold IRA account.

Fortunately, by working with Genesis Gold Group, their representatives will provide a list of approved custodians and help investors with the process. An investor mail this application physically or sign it electronically using DocuSign (https://www.docusign.com).

Investors can transfer their funds from an existing retirement account or roll them over into their new gold IRA account tax-free and without penalties. One of the Genesis Gold Group representatives will call the bank and the investor's chosen custodian to facilitate this process.

After the account is set up, investors can then purchase and allocate their gold or silver products according to their preferences. Genesis Gold Group has almost all types of precious metals that investors can select from, including coins, bars, and rounds.

Precious Metals IRA Set Up Fees

Investing in a gold IRA will come with some costs, such as account set-up fees, custodial management charges, and storage fees. An investor will also buy the precious metals they need to back up their account.

Unfortunately, Genesis Gold Group doesn't say what their fees are. Investors will have to request a quote and find out more about the company's pricing.

Storage Options

Genesis Gold Group has partnered with Delaware Depository Services Company (DDSC) to help their clients store their precious metals.

This facility is the largest precious metals storage company in America, backed by CME Group Inc. and Intercontinental Exchange (ICE). They carry $1 billion in all-risk insurance for their stored metals and offer the highest level of security for clients.

Gold IRA Rules

To start, investors need to purchase precious metals through dealers approved by the IRS. The metals must meet strict purity requirements: gold must be at least 99.5% pure, silver 99.9%, and both platinum and palladium 99.95%. Once purchased, these assets must be stored in an IRS-approved depository or secure storage facility.

Next, contribution limits depend on the investor's age. Those under 50 can contribute up to $6,000 per year, while individuals 50 and older are allowed up to $7,000 annually. For SEP IRAs, the limit is significantly higher—up to 25% of income or $66,000, whichever is greater.

Finally, withdrawals come with their own rules. No distributions can be taken before age 59½ without penalties. Once an investor reaches 70½, they must begin taking required minimum distributions each year, based on their age and life expectancy.

Pros and Cons

Conclusion

Overall, this company can be a choice for anyone looking to invest in precious metals. Investors should take note of the rules associated with owning a gold IRA, such as contribution limits and withdrawal requirements.

They should also consider researching other companies in the industry before making any investments — the more information one has about the market, the better-informed decision one can make.

Ultimately, investing in precious metals is a smart move that can help protect your wealth and ensure its growth over time.

Remember to read our list of the Best Gold Investment Companies to work with, before investing your hard-earned savings!

>> CLICK HERE to read our list of the Top 5 Gold IRA Companies. <<

Or, if you like what you read about Genesis Gold Group, continue to their website below.