GoldStar investment offers a number of different types of retirement accounts. These include self-directed IRAs and simple IRAs. They also offer alternative investments and real estate IRAs.
GoldStar offers a very comprehensive set of options for those who are looking to invest in precious metals. This includes a wide range of metals. In addition, their fees are fairly standard compared to other companies.
Self-Directed IRAs
GoldStar Trust Company offers a variety of unique investment solutions to individuals looking to diversify their retirement portfolio. In addition to traditional and Roth IRAs, they offer Self-Directed IRAs, Simplified Employee Pension (SEP) IRAs, Coverdell Education Savings Accounts, and Health Savings Accounts.
According to their website, they have been in business for over 30 years and manage over $2 billion in assets. They also provide IRA custodial services and act as an escrow agent for their clients. Their team consists of several key personnel, including three different vice presidents.
Moreover, they provide an online platform that allows IRA investors to track their investments and keep tabs on performance. This helps them make informed decisions on what to invest in, and it can help them avoid prohibited transactions. Additionally, they do not charge fees for transferring funds from one investment to another. However, their annual maintenance fee is a bit steep. This is especially true when investing in real estate or alternative assets.
Simple IRAs
An alternative to traditional retirement investments, simple IRAs allow employees to make pre-tax contributions via payroll deduction. The employer matches those contributions up to 3% of an employee’s compensation. The money grows tax-deferred until withdrawal, and there are no annual 5500 filing fees or discrimination testing requirements.
These plans are designed for small businesses with 100 or fewer employees. Employees can contribute up to $13,500 per year. However, there are restrictions on who can participate in a SIMPLE IRA. The plan can be offered only to employees who have earned at least $5,000 in the prior calendar year and who do not participate in another retirement plan.
GoldStar Trust Company is one of the country’s smaller IRA providers and has a relatively small team of executive members. However, the company is very transparent about who they are and has a dedicated customer service team. They offer a full list of their fees on their website, including a sliding scale that varies according to the market value of your assets.
Real Estate IRAs
Real estate can be a great alternative to stocks and bonds for your retirement account. It offers the potential for significant returns and provides tax benefits that other investments do not. The first step is to open and fund a self-directed IRA (SDIRA) with a custodian who supports this type of investment. You can either transfer existing funds into an SDIRA or roll over a like-to-like IRA from another provider.
A SDIRA allows you to buy and sell physical property, including raw land or single-family homes, within your retirement account. The property can be rented, managed, and sold, and all income is deferred until it is withdrawn. However, you must be careful not to purchase property that will be used or occupied by any disqualified individuals. This includes your spouse, parents and grandparents, as well as anyone else with a majority ownership interest in the property. You can also invest in securitized real estate options, such as REITs or mutual funds that invest in property indirectly.
Non-Traditional IRAs
Goldstar is a custodian firm that offers various types of self-directed retirement accounts. These accounts include a precious metals account, which allows you to purchase physical gold and silver bullion from an authorized dealer. It also offers a church bond account, which allows you to earn attractive returns while helping churches renovate their facilities.
Other investment options include real estate IRAs, which allow you to invest in property that is either owned by your IRA or by publicly traded companies. These IRAs can be a great way to diversify your investment portfolio.
Like other IRA providers, Goldstar offers a comprehensive fee schedule directly on their website. This includes the fees for cash, mutual funds, and other traditional investments. They also provide an option for customers to participate in tax loss harvesting, which is a great way to reduce your taxable income when the market is declining.
