Gold Star IRA is a retirement services provider in Canyon, Texas, helping individuals and businesses build their savings for over 30 years. With its commitment to providing quality customer service and competitive rates, the company has established itself as one of the leading providers in the industry.
Over the years, GoldStar Trust Company IRA has evolved into an innovative company with a wide range of products and services designed to help customers reach their financial goals.
Gold Star IRA offers personalized advice based on each client's circumstances, including information on traditional individual retirement accounts (IRAs), self-directed IRAs, and 401(k) plans.
GoldStar Trust Company, established in 1989, provides comprehensive retirement planning solutions to satisfy the needs of clients from all walks of life.
The company was established as Colonial Trust Company, and its primary focus was on offering self-directed custodial services for self-directed IRAs.
We have done hundreds of hours of research on the best precious metals investment companies for anyone that wants to invest!
It entered negotiations with Happy State Bank in 2004 to buy its retirement planning services division. This acquisition allowed the company to expand its reach into other areas of retirement planning, such as 401(k)s, 403(b)s, 457 plans, SEP IRAs and SIMPLE IRAs.
In 2006 GoldStar Trust Company acquired American Church Trust Company, increasing its retirement services offerings and expanding its presence in the market. Since then, it has continued to expand its services and offerings, providing customers with a comprehensive suite of retirement planning tools.
GoldStar Trust Company offers plans for individuals and businesses, estate planning services, and educational seminars. It also offers online account management and investment tracking tools to help customers stay informed about their retirement accounts.
Jeff Kelly has been the president of GoldStar Trust Company since January 2020 and has a wealth of knowledge in the retirement services industry.
He holds a bachelor's degree in Economics and Finance from Baylor University and over 30 years of expertise in creating and implementing corporate growth strategies.
Previously, he was the SVP for Equity Trust Company, where he was responsible for overseeing operations and business development. He has also held leadership positions at several other financial institutions and has been instrumental in implementing strategies enabling companies to realize their full potential.
Under Jeff's leadership, GoldStar Trust Company has continued to focus on providing quality customer service and competitive rates while expanding its services to meet customers' needs better.
Jeff and his team work to provide their customers with personalized guidance and comprehensive services, helping to ensure that each customer reaches their retirement goals.
Investing Account Types Offered by GoldStar Trust
The company offers investors several different types of retirement accounts. These include traditional IRA, Roth IRA, SEP IRA, and SIMPLE IRA accounts.
This individual retirement account helps you save for retirement as it allows you to put aside a certain amount of money from your earnings each year and enjoy certain tax benefits.
It allows you to invest in stocks, bonds, and mutual funds. Your money can then grow over time, potentially allowing you to enjoy more significant returns when it comes time for retirement, as long as they remain with the same financial institution.
Contributions may be tax-deductible depending on the individual's income level and other factors. Withdrawals taken before age 59 ½ or before retirement are subject to taxes and possible early withdrawal penalties.
This individual retirement account allows investors to save and invest for retirement while enjoying certain tax benefits.
Contributions are made with after-tax dollars, which are not deductible when filing taxes. However, investments grow tax-free until retirement, when withdrawals can be taken without additional taxes or penalties.
Unlike other types of IRAs, there are no annual contribution limits with a Roth IRA, so long as you meet the income requirements set by the IRS. This makes them especially attractive for people who want to maximize their savings potential without having to worry about contribution limits.
Employers can set up this individual retirement account to provide additional retirement benefits for their employees. It works similarly to a traditional IRA in that contributions are made with pre-tax dollars and can be invested in stocks, bonds, and mutual funds.
What makes the SEP-IRA different is that it has much higher contribution limits than a traditional IRA.
Additionally, employers can contribute up to 25% of each employee's salary or $54,000 (whichever is less). This makes it an attractive option for business owners who want to maximize their savings potential while providing additional benefits for their employees.
Small businesses and self-employed individuals can set up this individual retirement account. Unlike a SEP-IRA, contributions are made with after-tax dollars, and the employee must also contribute to their account.
Contributions are capped at $15,500 annually or $17,000 if you're over 50, which is much lower than a SEP-IRA.
Additionally, employers must match each employee's contribution of 3% of their salary or 2% for all eligible employees – whichever is greater. This makes it an attractive option for business owners who want to provide additional employee benefits without contributing too much.
GoldStar Trust IRA Investment Options
These are debt securities issued by religious organizations and can be used to fund building projects or other expenses. When purchased through GoldStar Trust Company, these bonds are secured by the trust's assets.
Real Estate Investments
These are investments in property and land, which can be used to generate rental income or future capital gains when sold. With GoldStar Trust Company, you can invest in real estate through various avenues, such as private lenders or REITs.
This is a way to invest in new and expanding businesses without directly buying stocks. While the risk is typically higher, the possible rewards could be more significant.
You can invest through GoldStar Trust in several crowdsourcing projects, including private equity and venture capital funds. You can invest in startup businesses and projects due to this internet platform.
Privately Offered Investments
These are investments that don't trade on a public exchange and can be challenging to acquire without the help of an experienced company like GoldStar Trust. These investments can include non-traded REITs, private placements, limited partnerships, and more.
GoldStar Trust allows you to invest in physical gold, silver, platinum, and palladium. These investments are held by a third-party custodian and can be used as part of a diversified portfolio.
GoldStar Trust offers access to a wide range of publicly-traded securities, such as stocks and exchange-traded funds (ETFs). Using the same tools and strategies for traditional brokerage accounts, you can invest in these markets.
GoldStar Trust IRA Storage Options
GoldStar Trust offers several options for safeguarding your precious assets. They are proud to have been affiliated with the Delaware Depository, IDS (International Depository Services), Texas Precious Metals Depository, and AMGL (American Made Gold & Silver LLC).
The Delaware Depository is a secure gold storage facility supporting domestic and international investors. It is fully insured and vaulted in an accredited bank. Investing clients of GoldStar Trust can rest assured that their investments are safe due to the high-security measures at this location.
IDS provides a unique combination of customized service and cutting-edge technology, making them an ideal partner for GoldStar Trust's clients. Their facilities are equipped with state-of-the-art security and impressive storage capabilities, making them a top choice for investors looking for safe and reliable gold and silver storage.
The Texas Precious Metals Depository provides state-of-the-art protection that meets all the industry safety and security standards. They offer comprehensive services, including secure vaulting, segregated metal storage, audit reports, and more.
AMGL is dedicated to providing individuals with an easy way to store their precious metals through its convenient online platform. With AMGL's secure vaults located in the U.S., clients can rest assured their assets are correctly stored and safeguarded from any potential risk or theft.
How Do GoldStar Trust IRAs Work?
GoldStar Trust IRAs are simple to set up. All you need to do is choose an approved financial institution, such as a bank or credit union, and open a GoldStar Trust IRA account.
Once the GoldStar Trust IRA account is open, the next step is to fund it. Depending on your financial institution, you may be able to do this electronically or by mail. You can fund a GoldStar Trust Company IRA with cash or investments such as stocks, bonds, and mutual funds.
Additionally, you can rollover assets from other qualified retirement plans into a GoldStar Trust IRA.
Once your account is funded, you can begin investing. Options include stocks, bonds, mutual funds, ETFs (exchange-traded funds), and other investment vehicles. You'll be able to choose the investments that fit your risk tolerance and financial goals.
You can also choose to have your investments managed by a financial advisor. With an experienced financial expert managing your account, the worry and stress of investing are taken off your hands. GoldStar Trust IRAs make it easy to access professional advice while taking advantage of the tax benefits.
You can access your account online or via smartphone at any time to check on your investments' current balance and performance. You'll be able to review your account activity, transfer assets between investments, and make changes whenever you want.
IRA Fees From The GoldStar Trust
The company is an excellent choice when it comes to IRA fees. GoldStar Trust is more than competitive in the market with a one-time $25 establishment fee, a $65 annual maintenance fee, and a $50 yearly asset holding fee for their hedge funds.
And with a $25 trading fee per trade along with brokerage fees, you'll pay much less than you would at smaller providers--where fees can run up to $200 annually.
Non-traditional company fees vary. Here's a basic rundown of how they handle fees for various alternative asset types:
When you open an account with the company, there is a $50 startup cost, and yearly maintenance fees are based on the value of the real estate in the IRA.
The annual maintenance cost is $200 for investments under $200,000 and increases to $300 for investments beyond $200,000 yearly.
In addition, a fee of $100 is charged for purchases or sales of real estate, and an administrative-legal fee between $50 and $100 for any documents that need to be reviewed or rushed.
Start right away for only $50 for setup. You could then pay a maximum yearly maintenance cost of $275 or less, depending on your account size. A minimum depository storage fee of $100 must also be paid annually to keep your account secure.
Fortunately, there are no extra fees for swapping assets in and out of your IRA – so it's great if you're looking to invest in different metals over time. However, GoldStar Trust will charge $40 per order plus applicable shipping costs when distributing precious metals from your account.
Perth Mint Certificate
Currently, the company charges a $50 setup fee, $40 on transactions or sales of assets inside the account, $75 a year for account maintenance, and $150 a year for asset holding.
Annuities and Bank Accounts Outside of the United States
The company charges a yearly fee of up to $275 for the service and between $50 and $75 to surrender annuities or sell assets, depending on the account amount.
Church Bonds and Church Loans
GoldStar Trust charges a flat fee of $45 per year to maintain this type of investment.
Additionally, accounts related to transfers or in-kind changes require maintenance or closure fees of $25 to $50.
GoldStar Trust Ratings & Complaints
The company has an overall rating of A+ from the Better Business Bureau (BBB). This rating is based on transparency, integrity, customer service, and industry experience.
The BBB also offers customers the opportunity to submit complaints about GoldStar Trust. In most cases, the complaints relate to pricing issues or delays in transaction processing. However, the company has no unresolved complaints and responds promptly to all inquiries.
It also has a 4-star rating on Trustpilot based on 101 reviews. Most customers are satisfied with the company's services, commenting on how helpful and professional their staff is.
Pros & Cons of GoldStar Trust Company
Decades of Experience
GoldStar Trust has been in the financial services industry for over 30 years. This long-term experience means that clients can trust and rely on GoldStar Trust's expertise in helping them find the right investment solutions for their retirement.
Wide Range of Services
GoldStar Trust offers a variety of services that go beyond traditional investments. This includes access to unusual investments such as real estate, private loans, and church bonds.
The Company Boasts More Than 60,000 IRA Accounts and $2.7 Billion Under Management
GoldStar Trust Company's large size means that clients benefit from economies of scale regarding commissions and costs. Also, the company can be relied upon due to its strength and stability in turbulent markets.
Customers who solely wish to invest in precious metals in their Traditional or Roth IRA will find their customer service substandard compared to most gold IRA experts. Therefore, investors might find more appealing options elsewhere if they are looking for a gold-only IRA solution.
GoldStar Trust IRA is an excellent option for those wanting to start investing in their retirement, although you may want to check if they made our top 5 list. They offer a wide range of services, competitive fees, and a knowledgeable team that puts customer satisfaction first.
We have done hundreds of hours of research on the best precious metals investment companies for anyone that wants to invest!