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Investors can choose from many companies that can help them purchase precious metals to save for retirement. However, some of these precious metal companies are better than others.
For example, investors may come across a company called Goldline when researching various precious metal companies.
This review aims to help investors decide if Goldline is a good choice to help them achieve their investment objectives.
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.
Gold and other precious metals have been used to protect against inflation for thousands of years. And when you hold physical in a tax-protected savings account, it gets even better.
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.
Look to see if Goldline was selected to our "highest recommendation" list this year!
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What is Goldline?
Many companies in the precious metal industry only spend a few years in business, but not Goldline. Los Angeles-based Goldline has been in business since 1960.
The company states its longevity in the industry is due to how they treat their customers. They treat their customers like an asset by providing them with concierge services from the moment a customer contacts them.
Goldline has worked with thousands of individuals to help them secure a comfortable retirement through precious metal investing.
There are many benefits to investing in precious metals like gold, silver, platinum, and palladium. First, precious metals are an easy way to diversify a retirement portfolio. Diversification is a good way to reduce risk in an uncertain economy and can help protect investment returns.
Also, an investor can add precious metals to their portfolio for a layer of financial security if they already have stocks, bonds, mutual funds, and other assets like real estate.
Second, gold and other precious metals can help preserve an individual’s wealth when the stock market drops, or there is inflation. The price of gold, silver, platinum, and palladium tends to be stable when there is market volatility and economic uncertainty.
Finally, precious metals are tangible assets investors can hold and use as currency during tough economic times. Plus, precious metals are separate from the global financial system. This independence enables precious metals to maintain their value during a global economic collapse.
Individuals considering buying precious metals for their retirement portfolio should talk to their tax advisor and financial planner to see if this is the best way to help secure their retirement.
Ratings are a good way to help investors determine if they should buy precious metals from a company, especially if they are new to this type of investing. Goldline presents two ratings on its website.
First, Goldline has claimed its Trustpilot profile since June 2014. Trustpilot gives Goldline 4.9 out of 5 stars based on 7,937 reviews. The percentage breakdown of the reviews is as follows:
Goldline also has an A- rating from the Better Business Bureau. Goldline says it has an A+ rating with the BBB. However, BBB has its rating at an A-. The difference in the rating may not mean too much to some customers.
Still, Goldline should update its website to reflect the accurate BBB rating. BBB bases its rating on its opinion of how Goldline operates its business and how it interacts with customers. Goldline has had a BBB business accreditation since January 27, 2015.
A good source to view complaints about Goldline is to look at the 3-, 2-, and 1-star reviews on Trustpilot, which only make up about 2% of the 7,937 reviews.
Most of the complaints were about customer service and how customers felt they were not getting respect if they made a low-dollar purchase. They also felt like the representatives were rushing them to make a purchase.
In response, Goldline representatives state the company does not take orders under $2,500 because the demand would be too much for them to handle.
Other customer complaints are about payment issues. For example, customers needed help with using credit cards or paying online. In many instances, Goldline was able to solve these payment issues.
Goldline Top Customer Reviews
98% of the 7,937 reviews are 4- and 5-star. Customers were satisfied with the overall level of service from Goldline, including ordering, shipping, and delivery. First-time investors were happy with the customer service and how the representative made purchasing precious metals easy.
Customers also appreciated how the representatives made follow-up calls to ensure the completion of their transfers or rollovers.
Overall, customers are satisfied with Goldline’s representatives and how they provide customer service, professionalism, and knowledge of the precious metal industry.
Goldline offers a wide selection of precious metals, including coins, bars, and specialty products. Customers can check the spot prices of gold, silver, platinum, and palladium on Goldline’s website.
However, these prices are subject to change, so customers must contact a Goldline representative to get the latest price. Here is a look at the precious metals Goldline customers can purchase:
Customers can browse Goldline’s website to purchase gold coins, rounds, bars, and historic coins. The company has a list of best-selling gold products, which include the following:
Goldline also sells self-directed IRA-approved which include:
Goldline customers can also choose from silver coins, rounds, bars, and historic coins. Their best-selling silver products include the following:
The company’s self-directed IRA-approved silver products include:
Goldline customers can also find platinum coins and palladium bars. Customers will need to talk to a representative to see if these platinum and palladium products are eligible for a self-directed IRA if they want to purchase them for retirement.
Goldline Self-Directed IRA
GoldStar Trust Company provides independent custodial self-directed IRA services for Goldline customers who want to invest in precious metals for retirement.
Goldline customers can transfer or rollover funds from a qualified retirement plan into a GoldStar self-directed IRA without paying penalties or taxes. Qualified retirement plans include a standard IRA, 401(k), 403(b), and other employer-based retirement plans.
Funding a self-directed IRA through GoldStar is easy, and customers can qualify for an additional 6% in precious metals through a promotional deal.
GoldStar has been in business since 1989 and has its headquarters in Canyon, Texas. The company provides custodial services to over 60,000 customers and has over $3 billion in assets under management.
In addition, GoldStar provides self-directed IRAs for customers who invest in precious metals and other assets, like real estate, church bonds, privately offered securities, and real estate investment trusts (REITs).
GoldStar’s role as a custodian is to manage the legal aspect of having a self-directed IRA while helping customers maintain control of their investments. They do not offer investments or provide legal and tax advice.
Steps to Choosing a Self-Direct IRA
One of the most important financial decisions an individual can make is to choose an IRA that fits their needs best. GoldStar offers four types of self-directed IRAs: Traditional IRA, Roth IRA, SEP IRA, and SIMPLE IRA.
Each IRA has unique tax benefits, contribution limits, and distribution requirements. It is important for people saving for retirement to know that Traditional or Roth IRAs are for individuals, and SEP and SIMPLE IRAs are for small business owners and employees.
Individuals should take to a tax professional to see which self-directed IRA will best meet their needs for a secure retirement.
Once the individual decides on the type of IRA, they must fund the account. There are three ways a customer can fund their account. First, they can roll over funds from an employer-sponsored retirement plan, like a 401(k) or 403(b), into the self-directed IRA.
They can transfer funds from a traditional IRA to the new self-directed IRA. They can also purchase precious metals from Goldline out of pocket and place them in the new self-directed IRA.
Customers must contact their trustee or custodian for a penalty, fee, or tax information if they choose to roll over or transfer funds. GoldStar can help ensure all required paperwork is completed and submitted to facilitate the rollover or transfer.
The final step is choosing the precious metals from Goldline to place in the self-directed IRA. Then, Goldline and GoldStar will guide investors in setting up a self-directed IRA to start saving for a secure retirement financial future.
There is not much storage information on Goldline’s website. However, the company states on its website that it primarily stores precious metals at a Las Vegas, Nevada depository. There are other storage options, but the customer must call Goldline and talk to a representative about storage location options.
GoldStar works with several precious metal storage facilities. They do not recommend which storage facility their customers should use, so they must research which storage facility will work best. These storage facilities include the following:
Storage information is important for customers to know because there are IRS storage rules that customers must follow for self-directed IRAs. The main prohibition is that individuals cannot have precious metals in their possession if those precious metals are to be in a self-directed IRA.
As a result, customers can fall out of compliance if their precious metals are not in an IRS-approved storage facility.
GoldStar has a fee schedule for a self-directed precious metal IRA. The company has a $50 self-directed IRA establishment fee and a $90 annual maintenance fee. Each depository has annual segregated storage fees, and GoldStar lists the annual commingled storage fee at $100.
There are shipping fees, but there is no information on these fees. GoldStar also lists various service fees for payments and account statements.
Is GoldLine a Reputable Company?
Goldline is a reputable company based on its services, products, and customer feedback. It has also been in business for a long time, which shows how much customers can trust this company to provide them with a deal on its products and services.
The business provides a high-quality service based on thousands of reviews. As a result, Goldline provides all the precious metals that individuals need for a self-directed IRA, and establishing a self-directed IRA is a simple process.
Remember to read our list of the Best Gold Investment Companies to work with, before investing your hard-earned savings!
Or, if you like what you read about Goldline, continue to their website below.
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