Investing in Silver
Posted: Fri Jun 15, 2012 7:43 pm
I have collected silver bars and roundsfor years. Traiding them in when cash gets low.
But this time I want to cash-in an unused IRA that isn't doing anything sitting in the bank. Its not alot because I never actually set up anything.
I have over just over $5000. in the bank.
I want to buy those stackable 1oz or 10oz bars, but it really doesn't matter as long as they are bars. I like bars more than rounds.
My actual question is when I go to sites that sell gold and silver I see the phrase "IRA acceptable".
What does that mean exactly?
I know that if I decide to take out the $5K that I will have to pay taxes and fees. but the "IRA acceptable" thing sounds like I won't.
What do you think?
BISHOP
But this time I want to cash-in an unused IRA that isn't doing anything sitting in the bank. Its not alot because I never actually set up anything.
I have over just over $5000. in the bank.
I want to buy those stackable 1oz or 10oz bars, but it really doesn't matter as long as they are bars. I like bars more than rounds.
My actual question is when I go to sites that sell gold and silver I see the phrase "IRA acceptable".
What does that mean exactly?
I know that if I decide to take out the $5K that I will have to pay taxes and fees. but the "IRA acceptable" thing sounds like I won't.
What do you think?
BISHOP