Core Insights - Gold continues to reach new record highs as investors increasingly turn to the precious metal for investment and retirement savings [1] Group 1: Gold IRA Overview - Opening a gold IRA is more complex than a traditional IRA, requiring specialty providers as major brokers do not offer them [1] - Gold and other metals must meet specific purity standards, come from approved refiners, and be stored in IRS-approved facilities [2] Group 2: Costs and Fees - Gold IRAs typically incur higher costs than traditional IRAs, including setup, storage, maintenance fees, insurance, and shipping costs [2] Group 3: Tax Implications - Physical gold does not generate interest or dividends, meaning no income is earned while holding it [3] - The IRS treats gold as a collectible, leading to long-term capital gains taxes of up to 28%, which is higher than the 0 to 20% range for stocks [3][4] Group 4: Alternatives to Gold IRAs - Gold IRAs allow funding with pre-tax money, and Roth IRAs permit after-tax contributions, but both require minimum distributions starting at age 73 [4] - For those seeking gold exposure without the complexities of storage, physically backed gold ETFs are a simpler option, incurring only a small fund fee without storage or insurance costs [4][5]