Question By: A self-directed IRA that is backed by precious metals works in the same manner as a 401(k) and traditional IRA. The major difference is that it is backed by precious metals instead of currency. This means that you are in physical possession of those metals. Therefore, you have to find a safe place to store them.
To get started with this type of IRA, you are advised to consult with a professional. He can open the account, get you started on purchasing precious metals to fund the it and help you store the metals in a safe and secure place. For more information about self directed IRA precious metals self storage, visit Orion Metal Exchange at https://orionmetalexchange.com/ira-accounts/.
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