What is Merit Financial Merit Gold & Silver Preferred IRA?

Merit Financial, also known as Merit Gold and Silver, is a precious metals dealer that offers investment options such as gold and silver IRA accounts. Merit Gold and Silver is currently being sued by the City of Santa Monica for alleged deceptive business practices, but this lawsuit does not necessarily reflect the quality of its IRA services.

With a Merit Financial Merit Gold & Silver Preferred IRA, customers can invest in precious metals including gold, silver, and platinum. Merit Financial offers a variety of IRA account options, including traditional, Roth, SEP, and SIMPLE IRAs. Customers can also take advantage of a self-directed IRA, which gives them more control over their investment choices.

Merit Financial charges a setup fee of $145 for IRA accounts and has a delivery time of 10 days for metals. It is important to note that IRS regulations require that the metals be stored in a depository approved by the IRS.

One potential benefit of investing in a Merit Financial IRA is that customers can diversify their portfolio with an asset class that is not directly tied to the performance of the stock market. Precious metals are considered a hedge against inflation and can potentially retain their value or appreciate during times of economic uncertainty.

However, investors should also consider the potential risks and drawbacks of investing in precious metals, such as price volatility and potential difficulties in selling the metals if the market demand is low.

Overall, the decision to invest in a Merit Financial Merit Gold & Silver Preferred IRA should be made based on an individual's specific financial goals and risk tolerance. It is important to research and compare different IRA options and consult with a financial advisor before making any investment decisions.