401(k) to Gold IRA Rollover Calculator

Here’s a comprehensive table summarizing all you need to know about a 401(k) to Gold IRA Rollover:

Aspect	Details
Definition	A process of transferring funds from a 401(k) to a self-directed IRA that allows investment in physical gold and other precious metals
Eligibility	Typically possible after leaving the company through career change, layoff, or retirement
Benefits	Portfolio diversification, hedge against inflation, fewer restrictions for heirs, potential tax benefits
Types of Rollovers	Direct (funds sent directly to new IRA) and Indirect (funds sent to you, must deposit within 60 days)
Steps	1. Choose gold IRA provider 2. Select self-directed IRA custodian 3. Select investments 4. Submit paperwork 5. Execute rollover 6. Purchase gold assets
Time Frame	Funds must be deposited in new IRA within 60 days to avoid penalties
Penalties	10% early withdrawal penalty if under 59.5 years old, plus income tax on full amount if not completed properly
Gold Purity Requirement	IRS requires gold to be at least 95% pure
Approved Gold Forms	IRS-approved gold bullion, coins, and bars
Storage	Purchased metals must be stored by the custodian
Frequency Limit	Only one rollover allowed in any 12-month period
Key Considerations	Understand rollover rules, choose between direct and indirect rollover, be aware of potential tax implications

This table provides a concise overview of the key aspects involved in a 401(k) to Gold IRA Rollover, including the process, benefits, requirements, and important considerations.