Oxford Gold Group is an accredited gold IRA custodian and a leader in the retirement investment industry. The company has decades of experience helping people create financial freedom with physical precious metals.
They are one of the few companies offering self-directed IRA accounts and full-service investing options, allowing investors to build their portfolios or outsource their asset management needs.
The company offers a wide range of services for traditional IRA investments and 401K rollover plans, as well as self-directed IRAs for those who prefer to manage their investments.
Oxford Gold Group also provides comprehensive educational resources to help investors understand how gold can be used as part of a diversified retirement strategy. The company is committed to providing personalized service and education so investors can make informed decisions about their retirement investments.
Its team of experienced professionals is available to assist in every step of the process, from selecting the right products for individual needs to setting up an account and managing the investment.
In addition to gold IRA investments, the Oxford Gold Group also specializes in coins and bullion. They provide a range of coins and bars from several countries in various shapes, weights, and conditions.
They can offer affordable prices on well-liked gold products because of their connections with retail wholesalers and mints. To keep up with the ever-changing needs of its consumers, Oxford Gold Group regularly updates its inventory.
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What Does Oxford Gold Group Offer?
Silver, Gold, Platinum, and Palladium Products
Oxford Gold Group provides a diverse selection of physical precious metals products such as gold, silver, platinum, and palladium. This is a great alternative for those who want to diversify their portfolio or protect their investment from market volatility.
All of the company's products come directly from the top mints in the United States and are guaranteed to be of the highest quality.
Their gold catalogue includes American Gold Eagle, Gold North American Bald Eagle, Gold Bottlenose Dolphin coins, and gold bars in various weights and sizes.
Customers can purchase silver products such as the American Silver Eagle coin, the Canadian Maple Leaf coin, and a wide selection of silver bullion bars.
Platinum products include the American Platinum Eagle coin and platinum bars in various sizes. Palladium products, including the American Palladium Eagle coin and palladium bars in multiple weights, are also available.
Oxford Gold Group also offers a wide selection of rare and collectible coins, bars, and rounds. Their product inventory is constantly updated so customers can access the latest products on the market.
Precious Metals IRAs
These individual retirement accounts allow you to invest in physical gold, silver, and other precious metals. These accounts let you diversify your retirement portfolio and protect your wealth from market volatility.
Types of Precious Metals IRAs
Traditional IRAs
These retirement accounts allow people to save money tax-free today while delaying taxes until the contributor withdraws funds down the road. This provides an incentive to save more since you don't see any reduction in your current paycheck and can appreciate the reward of compound interest.
Traditional IRAs have contribution limits that the IRS sets. The annual contribution amount is limited to $6,500 for those under 50 and $7,500 for those over 50. This limit applies to all types of contributions, including any employer-matching contributions or IRA rollover transfers.
Early withdrawals will result in a penalty when it comes to Traditional IRAs. The penalty is set to 10% of the total amount withdrawn from the account.
This penalty applies to those who withdraw funds before reaching 59 ½ years old unless an exception is applied. Some exceptions include medical expenses over 10% of adjusted gross income, disability, and death.
Roth IRAs
These differ from Traditional IRAs because the funds contributed to them are taxed upfront. This means that no additional taxes will be applied when you withdraw your funds, whether for retirement or any other purpose.
Therefore, Roth IRAs provide more financial flexibility throughout retirement as they are not subject to market fluctuations like traditional investments are.
The contribution limits for a Roth IRA are like those of a traditional IRA at $6,500 per year for those under 50 and $7,500 for those over 50.
Unlike the 10% penalty that Traditional IRAs have, Roth IRAs do not come with any penalties for withdrawing funds before age 59 ½. This makes them ideal for those who want to save more money with the immediate tax break and access the funds for emergencies or other purposes later in life.
SEP IRAs
These are attractive for self-employed individuals and small business owners who want to save for retirement. These accounts allow employers to contribute up to 25 percent of their income or $66,000, whichever is less.
SEP IRAs offer tax-deferred compounding, which allows you to accumulate more wealth faster than traditional investments.
However, you cannot contribute any additional money to the account beyond what is contributed by your employer.
Regarding withdrawals, SEP IRAs have similar early withdrawal penalties as Traditional IRAs, with a 10% penalty for those who withdraw funds before 59 ½ years old. The only exceptions to this rule are for disability, death, or certain levels of qualified health expenses.
SIMPLE IRAs
These are essentially the same as SEP IRAs but with a few differences. The contribution limits for SIMPLE IRAs are $15,500 per year or $16,500 if over 50 years old.
The other difference is that employees can contribute to their accounts, and employers must match employee contributions up to 3 percent of the employee's annual salary. These two components make it an attractive option for self-employed individuals who want to save more quickly.
If their SIMPLE IRA plan allows it, employees who are 50 or older are also qualified to make additional catch-up contributions. The maximum catch-up contribution for 2023 is $3,500.
Also, an aggregate limit of $22,500 will apply to employees who contribute to other company plans that allow for discretionary pay reductions in 2023. Furthermore, if you are 50 or older, catch-up contributions let you contribute a total of $30,000 in 2023.
Similar to Traditional and SEP IRAs, there is a 10% penalty for early withdrawals before retirement age. Additionally, any funds withdrawn by an employer from the account before the employee reaches 59 ½ will be subject to a 25% penalty.
Buy Back Program
Oxford Gold Group provides a secure buyback program that allows customers to sell their gold, silver, or platinum products back to the company at current spot prices. The program is designed to give clients flexible options regarding their investments.
Additionally, the company offers a price match guarantee on all products purchased from the company, allowing customers to always get top dollar when selling their items back. This makes it easy for clients to liquidate their investments when needed.
With this secure and reliable buyback program, Oxford Gold Group ensures that its customers have peace of mind in knowing that they can trust the company to have their best interests in mind.
How Does Oxford Gold IRA Work?
To get started with Oxford Gold IRA, an individual must set up an account with the company. This requires providing information such as name, address, phone number, date of birth, and Social Security Number.
The customer then funds their account by making either a one-time deposit or setting up automatic deposits from their bank or other financial institution. You can also make an IRA rollover or transfer from an existing retirement account.
Once the account has been funded, the customer can choose which type of precious metal they would like to purchase and how much they would like to buy.
The process for buying is simple since you can work with Oxford Gold IRA's knowledgeable advisors to determine which metals are best for your investment goals.
Oxford Gold IRA has various options for customers, including coins, bars, or bullion. Customers can also buy fractional shares of precious metals depending on their budget.
Once the customer has made their purchases, the metals are shipped directly to the custodian's vault and securely stored until needed.
The custodian and Oxford Gold IRA manage all aspects of buying, selling, and storing precious metals so that customers can rest easy knowing their investments are safe and secure.
If an individual ever needs to access their investments, they can contact Oxford Gold IRA, who will facilitate this process quickly and easily.
Storage
The IRS requires that all gold held in an IRA be stored with a custodian or trustee. Oxford Gold Group takes pride in offering its clients the peace of mind that their investments are securely stored and insured, giving them complete assurance that their investments are safe and sound.
The company is affiliated with Brink's Global Services U.S.A., Inc., one of the world's largest and most secure independent vault operators, with over 500 locations in over 60 countries.
Additionally, they partner with Delaware Depository Service Company, one of the foremost storage institutions in the United States, and has been operating since 1999. This state-of-the-art facility includes 24/7 monitoring and surveillance, metal and product testing, and segregated storage for separate accounts.
With Brink's and Delaware Depository as their partners and both locations being insured by Lloyds of London, Oxford Gold Group ensures that all investments are safely and securely stored.
The continuous auditing of each facility further highlights their focused dedication to their clients' investments by its respective company, as well as the Automated Storage and Retrieval System that Brink's uses to track every item.
This allows for high accountability and transparency, guaranteeing clients that their investments are safe and secure.
Oxford Gold Group Costs
The company charges an annual flat maintenance fee that ranges from $175 to $275 according to the size of the investment, but they don't charge any brokerage fees.
Annual storage fees range from $175 to $225 on average, and depending on the size of the investment, there is a rebate of one to five years for paid storage fees.
What's more: you can only start investing if you commit at least $7,500 to your IRA or $1,500 outside of it. Additionally, once it's time to liquidate holdings, Oxford Gold has a no-fee liquidation program.
Ratings & Complaints
Oxford Gold IRA has received positive ratings from its customers. It holds an A+ rating with the Better Business Bureau and is rated 4-stars on Trustpilot, where customers have left glowing reviews about the company's services.
In addition, Oxford Gold IRA has not had any significant complaints or lawsuits filed against it, suggesting that customers are generally content with their services and that the company is committed to keeping them satisfied. They do have some negative reviews, but on the whole, customers seem satisfied with their services.
Pros & Cons of Oxford Gold Group
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Conclusion
Oxford Gold IRA is a reliable and reputable precious metals IRA custodian that can help diversify your retirement portfolio. They offer a wide selection of gold and other precious metals products, competitive rates, and quality customer service.
If you're looking to invest in precious metals for your retirement, Oxford Gold IRA is a good choice...see if they are on our top 5 list this year!
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