Reports Of Retirement Fund Theft Causes Concern Among Would Be Retirees
One day your hard earned savings sit peacefully in your IRA or 401(k) and then like magic disappear.
Recently, news outlets across the country have reported the theft of money from the retirement accounts of employees. In New York City, the New York Post ran an article about a father-daughter duo who stole $750,000 from employees at a construction company.
Eighteen thousand dollars of the money was stolen out of the retirement accounts of employees and the New York Post is reporting the duo has been caught.
In May of 2015 a Florida man, Julius Reyes opened up a shell account and managed to steal $489,000 worth of 401(k) funds and transferred the money to a Chinese account as reported by the Sun Sentinel.
Just three months before the Florida case a Comcast employee who managed retirement accounts stole $125,000 worth of funds from employees’ accounts.
With all the economic and political turmoil rumbling throughout the world most investors are concerned about taking losses in their retirement accounts. But those concerns are primarily focused on their stocks and bonds losing market value, not from theft.
However, the recent reporting of retirement fund theft raises questions about the actual security of your money.
The risk of losing money in your retirement account is far greater from market turmoil than theft, yet the key difference between the two is if your stocks and bonds lose value they could also regain value once more.
Money stolen is most likely money lost forever.
There is a way to keep your money safer not only against market turmoil but theft as well.
Take a quick look at Google Trends every time the stock market has a hiccup and you’ll see searches for gold investing explode. The reason why gold becomes so sought after is because it’s considered a safe haven against declining markets.
Some investors have taken investing in gold to a whole new level. Not only will they purchase gold coins and bullion or even invest in a gold IRA but they’ll store the gold within an IRA in their own homes or safety deposit boxes.
These types of retirement accounts are known as Home Storage Gold IRAs. Essentially how a Home Storage Gold IRA works is as follows:
#1 – You set up a LLC and then invest in gold.
IRS rules state that a custodian must purchase the gold for placement in an IRA. Once you set up the LLC which is incredibly simple you can begin funding your new Home Storage Gold IRA.
#2 – Gold delivered to your home
A secure transport personally delivers your gold to your home for your safekeeping. The deliveries are insured against theft or damage so you need not worry about the condition of your gold once it arrives.
#3 – Safekeeping
What separates a Home Storage Gold IRA from other IRAs and even Gold IRAs is you have total control over the precious metals.
This means you can keep it in the sanctuary of your own home or store the gold in a safety deposit box at your local bank. What makes this advantageous is you know who has access to your money 100% of the time and you’re not dependent on a far away location to keep your gold safe.
At this point you may have several questions about the Home Storage Gold IRA and we have answers. We’ve just released a new book which explains all the details behind the Home Storage Gold IRA and how you can easily get started.
To learn more simply click the link below and we’ll send your copy immediately.
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