[00:00:01] Speaker A: You're listening to PTC point of view brought to you by preferred trust company, the preferred custodian for all alternative investments. We're here to provide retirement savers like you with the tools you need to succeed. Need a confidence boost when it comes to investing outside of the stock market? Do you want the power to build a tax sheltered nest egg that will last through your golden years? You've come to the right place. Turn up your speakers and turn off cruise control because we're taking you on the alternate route to investing with your IRA.
[00:00:39] Speaker B: All right, so thank you so much for joining us today.
[00:00:42] Speaker C: My name is Kerry Cook.
[00:00:43] Speaker B: I am the CEO of Preferred Trust Company. We offer self directed iras. And today I am joined by three lovely ladies sitting across from me from St. Joseph Partners. Would you mind introducing yourself?
[00:00:56] Speaker C: Sure. I'm Becca Mcintosh. Al Maq.
[00:01:00] Speaker B: Megan Schneider. Awesome. I'm so excited to have you guys here today.
Obviously, preferred trust company doesn't provide investments, right? But you do. And so today we're going to talk about precious metals and the investments of precious metals. Why we invest in precious metals, when to invest in precious metals. We're going to run the gamut lane. So hopefully you're up for this conversation and I hope you all join in and I hope. Thank you everybody for joining us today. So why do we invest in precious metals? Paper is poverty. It is only the ghost of money and not money itself.
So any of the three of you, why invest in precious metals? And maybe, just maybe, I'll ask each.
[00:01:50] Speaker C: Of you very important to realize that the dollar is devaluing and having physical precious metals is money. And it's something that will continue to stand the test of time.
[00:02:04] Speaker B: Why invest in precious metals?
[00:02:06] Speaker C: Ellen?
Gold and silver will never go bankrupt.
[00:02:12] Speaker B: Oh, nice.
And Megan, why invest in precious metals? Gold is a currency that has never had its value go to zero. And it provides and protects your wealth through generations. So it's a constant that you can always depend on. Okay, if nobody out there could resonate with any of those three things, what is wrong with them?
Protection, security, preservation. I think everybody who invests in anything is looking for those three things, are they not?
And precious metals offers all three.
That's kind of crazy when you really think about it in that kind of perspective, right?
So let's get into the discussion. Let's really get into precious metals. The first thing we're going to talk about is there's really two types of ways that you could hold precious metals. One is through a qualified plan and the other is through a non qualified plan. What's the difference between a qualified plan and a non qualified plan when it comes to holding precious metals?
[00:03:30] Speaker C: Well, a qualified plan would allow you to have the tax deferred savings account with your retirement, where an unqualified plan would be just taking personal delivery of those metals into your home to keep them in your safe or storing with a private vault.
[00:03:46] Speaker B: Is there a difference in purity between a qualified plan and a non qualified plan from the standpoint of St. Joseph Partners and what you're offering investors?
[00:03:56] Speaker C: Actually, no difference at all.
[00:03:58] Speaker B: None at all? No purity difference standards? No. No amount of value?
[00:04:05] Speaker C: Well, actually, no, I take it back. So there. So there are requirements by the IR's that their majority metals to be 99% pure when it comes to silver, gold, I believe, is 92.57% pure.
[00:04:18] Speaker B: Yeah, there's.
[00:04:19] Speaker C: Here. That's. Okay. 99 point something. Exactly. There are requirements of the metals when they're being placed into the accounts as to purities, but no, you can have mixture between just bars and coins.
It doesn't matter there. It just requires impurity if it's allowed in there.
[00:04:38] Speaker B: Why would somebody want to use a qualified plan to invest in precious metals?
[00:04:44] Speaker C: Because of the tax deferred.
The tax deferred benefits of option.
[00:04:55] Speaker B: Okay. So they can actually purchase the precious metals using a qualified plan or a self directed IRA or.
I mean, I don't know what other types of plans, honestly, that allow for it, but definitely a self directed IRA. When they acquire the metals in the self directed IRA, any appreciation of the metal value is held within the IRA, is that correct?
[00:05:22] Speaker C: That's correct, yes. Okay. And then, yes, they would be purchasing the metals with pre tax dollars and never would have a taxable vent up until they physically took possessions of the metal or decide to transfer them into cash and take those that cash into their possession.
[00:05:37] Speaker B: Great. And if they invest with a Roth.
[00:05:39] Speaker C: IRA, it's post tax dollars they're using for their Roth IRA.
[00:05:45] Speaker B: So then any appreciation of those metals over time is tax free.
[00:05:49] Speaker C: That's correct.
[00:05:50] Speaker B: Interesting. How many clients do you guys have that invest with non qualified plans? Is it the majority?
[00:05:59] Speaker C: Yes. Majority of our clients that are coming to us don't even realize that they can invest in precious miles iras. They realize they can have stocks, bonds, everything else, but they're surprised to find they can roll a percentage or portion of their retirement account over into physical metals and have those help for them.
Nice.
[00:06:18] Speaker B: So non qualified plans, are they wiring funds to you to purchase these metals?
[00:06:23] Speaker C: That is correct.
[00:06:24] Speaker B: They're wiring funds. Wiring funds. Okay. All right. And what's the average size investor?
[00:06:32] Speaker C: There is no oversized investor. There's no wrong answer to how much you can invest.
[00:06:36] Speaker B: I love it.
[00:06:36] Speaker C: You can invest as little as, you know, $1,000, if that's all you can afford, or $100,000, if that's what you're looking to. Wait a second.
[00:06:43] Speaker B: You just said $1,000, so anybody can invest in precious metals?
[00:06:50] Speaker C: Precious metals is very obtainable. People don't realize that.
[00:06:54] Speaker B: Do you mind me asking what your youngest customer is?
[00:06:57] Speaker C: I think someone in their twenties was my youngest client that I worked with the last couple years.
[00:07:01] Speaker B: Nice. Intuitive, huh?
[00:07:04] Speaker C: They had very, very important parents that taught them very well, and they would urge them to invest some of their savings into precious metals.
[00:07:13] Speaker B: And where are these clients holding their metals?
[00:07:17] Speaker C: Majority of them take them into their possession. If someone is uncomfortable with storing them at home, they save. There are other options they can store in a vault. We offer vault space for our clients if they like to. Some people choose to keep a percentage at home and store another percentage in the vault so they have some liquidity at home. And if they need to, they can get the remainder out of the vault at any time.
[00:07:44] Speaker B: So, interesting.
Does it ever make you want to grab a shawl?
[00:07:52] Speaker C: If you do, don't tell me. I don't want to know where to.
[00:07:54] Speaker B: Spot while you're storing it.
I'm sorry. I couldn't resist. But when you say that, it makes me. It just.
[00:08:00] Speaker C: Does it make you ever go, hmm.
[00:08:03] Speaker B: I wonder what they do with their medals.
[00:08:05] Speaker C: Once, when people try to tell me what they're going to do with them, I say, la, la, la. I don't want to know. I don't want to know.
[00:08:11] Speaker B: We don't want to have this recorded.
[00:08:12] Speaker C: Exactly.
[00:08:13] Speaker B: So, interesting. So let's talk about the strategies, like their investment strategies with clients. I know you're talking with many clients, and unfortunately, what I have seen is the Armageddon approach, the whole scare tactics, those sorts of things.
What is your approach when you first talk with a client? When they're interested in investing in metals.
[00:08:38] Speaker C: I mean, there's not really an appropriate approach. Everyone has their questions on what they're trying to achieve. We try to work with the client to understand why they're wanting to invest in precious metals. We can give them our recommendations. However, there's no right or wrong answer. The only right answer at the end of the day, is, obviously, you should have some of your wealth invested in precious metals. What is that percentage? We have our recommendations, but we're here to educate you and help you. And whatever you need, we'll be here to help you with that.
[00:09:11] Speaker B: Nice. I'm so glad to hear that you don't have an Armageddon approach.
It's tough sometimes with metals. Right? Because we talked about the three reasons why you would have metals, and obviously that's so, so drastically different from, you know, what I'm seeing anyways, when it comes to the marketing on the precious metals dealers. And it's so refreshing that St. Joseph's partners does not approach it in that manner. So kudos for all of you for really giving people just education and not the scared tactic of investing in metals, because it shouldn't be scary at all for anybody. And I do agree with you. What percentage of those precious metals should we have in general in our portfolio? What are your thoughts on that? I'm sure everybody thinks it's a different percentage.
[00:10:06] Speaker C: So a new investor coming to me that's never invested in precious metals, I would recommend that they should build up to having between 20 and 25% of their net worth in precious metals. That can be very scary to some people because, you know, a lot of people don't realize what that gold is like, holding money and so putting into that physical asset versus just seeing the numbers and dollars on a statement.
So I work with them. I help them achieve whatever goal they're going to come to. But ultimately, that's our recommendation is 2020. 5% holdings of their assets, or networks, rather, in the physical gold or the silver asset build there.
[00:10:43] Speaker B: Yeah, it's collateralized. Right. We're not talking about, you know, a stalk that we can light on fire.
Have you guys ever tried to burn your metals? I mean, it doesn't work. So it's something tangible that nobody can take from you. Yeah, it's going to live through the fire. Does any of it have to do with age?
[00:11:06] Speaker C: No, I wouldn't say there's an age factor involved in there. I think as you grow and your net worth grows, you should consider reevaluating your investments and make sure you have a comfortable amount in there. At the end of the day, if stocks, bonds, real estate are doing great, you have 75% of your portfolio that is performing wonderfully. If all of a sudden something happens and you have down 25% in precious metals and everything else is failing, you still have a good chunk of your wealth to protect you and your family for years to come.
The one nice thing about precious metals is there's no liabilities, no CEO, bankruptcy company, it will always be a tangible asset that has some kind of value.
[00:11:45] Speaker B: I couldn't have said that better. And that's exactly why you would want it, right? It's something, I hate to say it's your most dependable investment, but it really is. If you look over the past 50 years, it is the most dependable investment that I've seen through my research. It is the most dependable that's out there. And I know, Megan, you had mentioned this as well. It's something that we can convert back into cash should we need it, but you can also provide it as a legacy. I mean, this is something that can be brought down from generation to generation to generation and could change lives.
So it's really interesting. And an insurance policy.
I had the opportunity to speak with you guys before we sat down, and each one of you kind of talked about precious metals being a legacy in your family. So I think that's more. If more of us thought about it and asked questions about our family history, I think we would all find that metals somewhere along the way. And I say metals because, you know.
[00:12:54] Speaker C: Whether it was your grandfather that collected.
[00:12:56] Speaker B: The coins or what it it is in your family tree somewhere along the way. So why not bring that forward into today's environment and start very young, the young twenties, all the way up, and it's something that we can pass on very, very easily. So let's talk about, you know, the cost and the appreciation of precious metals.
I hear so many things about this as it pertains to cost of metals. And, you know, going into a dealer is scary. I wouldn't know where to buy metals, right. If somebody asked me and you were walking on the street and you put a microphone in front of everybody and you said, where do you go to buy precious metals? How many people are you going to run across and say, I know the.
[00:13:46] Speaker C: Average person will say a pawn shop or a jewelry store, right?
[00:13:50] Speaker B: And is that really where you want to send them to buy the metals? So you wouldn't recommend that? I would not know. You would not recommend that? So how do individuals find dealers? How do they find you?
Where do I go?
[00:14:04] Speaker C: I mean, you can just type in online to find precious metal dealers. Then it's really just a matter of talking with them and looking at the different items that they offer and see what the prices are. Gold, silver are openly traded in the Comex. And so spot price is something that is fluctuating throughout the day while the market is open, and then looking at the prices that they're offering or they're charging for, for the particular metals that you're buying at that particular time.
[00:14:30] Speaker B: So how do I know a good price?
How do I determine that?
If I just googled you, found St. Joseph Partners and I was on the phone with you, how would I be able to tell if that's a good price? Do you have something online that can help me? How would I, as the consumer, be able to figure that out?
[00:14:53] Speaker C: One thing that St. Joseph Partners offers is we offer on our site, which I don't think anyone in our industry does, we offer a buyback price so you can go on there to particular coin or bar that you're looking to purchase. We have transparency of what we're charging at that moment. We show on our website what the current spot price is on the market. And we also show you what we buy that back for from you today at that exact same piece where you would sell it back to us.
[00:15:18] Speaker B: Yeah, I can honestly say I've never seen that before. I've never seen that before. And I think the reason I haven't is because there are some dealers that may charge a higher amount above that spot price. How do you guys determine what that price is going to be? Is it a set percentage above? Is it depending upon what's going on with the market availability?
[00:15:41] Speaker C: How do you determine that price it is? So we're charged premiums from the mints and the secondary refineries. Those change daily, sometimes multiple times per day. We're seeing now with the supply and demand, especially in the current market that we're in, those prices are fluctuating on a daily basis a couple times per the day. So we just, you know, when we're talking with our clients, just letting them know different ranges, they have a certain dollar amount they're looking to allocate into there. Just trying to help them find, you know, the best metals that would work for their situation.
At the end of the day, we want to help them, educate them and get them a valuable, reputable product that they'll be happy they purchase in the future.
[00:16:24] Speaker B: That's awesome. Let's talk about the value.
How quickly does gold appreciate? What is this going to look like? If I were to buy from St. Joseph Partners today?
I'll put you on the spot. What would the price be today, no pun intended, on putting those.
[00:16:45] Speaker C: I don't have an answer. It all depends on the current market at this point in time.
[00:16:50] Speaker B: Okay.
[00:16:51] Speaker C: But I can't answer that question because we don't know what the future holds. I can just go based on history since gold and silver have been openly traded on the market, which is about 50, just at 51 years now, we have seen prior to 2000% to 7% year per year return on gold and silver. After 2000, we have been approaching eight plus percent.
I can't say that there's anything else that you're going to invest in that will continuously have return like that each year.
[00:17:20] Speaker B: Yeah.
[00:17:20] Speaker C: With no risks involved.
[00:17:22] Speaker B: Exactly. You've got the consistency. And I think, you know, as we're recording this, we're not exactly living in an economy of consistency. Right.
And even if we were recording this when it was consistent, 7% year over year is an incredible investment. It's an incredible investment.
[00:17:44] Speaker C: You will find a lot of SKU data online prior to 50 years ago, it was set by the government, the process going slower. So you'll find a lot of skewed data out there that will show an average of those numbers. I don't know how all that works, but I can tell you that since it's been openly traded, that is the correct information.
[00:18:01] Speaker B: Yeah, it's a great investment. I mean, why wouldn't you want to do that?
[00:18:05] Speaker C: Exactly.
[00:18:06] Speaker B: Exactly. Listen to these ladies. Exactly. All right, we're going to move on to another question in regards to the demographics statistics of a precious metal spire. And you guys have answered this a little bit, but there's got to be a demographic that you specifically work with. Is it, I don't know if it's ethnicity, if it's age, if it's belief, what is it?
Why your clients?
[00:18:37] Speaker C: Who are your clients? I think it's people that are approaching the time of their point in life when they're worried about the retirement. They're worried about how they're going to financially protect their family, be able to take care of themselves in the years to come after they retire. We do find that some people that are younger are beginning to look into that. But for the most part, it's people that are baby boomers or later that are concerned about their financial security and their wealth. And then a lot of people that did lose a lot of money in the stock market in 2007, 2008 when it crashed, it took them that many years to regain. They're that concerned, they're that many years older at this point in time. And so they want to find something that has less risk. And so they're moving a percentage portion of their retirement accounts over into precious miles or just taking into their personal possession.
[00:19:30] Speaker B: Is there a better time to buy?
[00:19:33] Speaker C: No.
Anytime soon? Always buy. And there are some people that will call me. And they want to wait till the market drops a little bit to see $0.50 here or a dollar there. But, no, there's never a bad time to buy or a good time to buy. At the end of the day, you're just basically, you're buying this to preserve your wealth. And I think in the future, in the years to come, you'd be happy you made that investment, regardless if you pay a dollar more today or $0.50 less next week.
[00:19:58] Speaker B: Yeah.
[00:19:58] Speaker C: Or vice versa.
Absolutely.
[00:20:02] Speaker B: Oh, we talked a little bit about this allocation of metals, but before we talk about that, I'm a client that's calling, and I have 100% in the market.
What should I do? I know that I need to remove myself from that market, but what percentage should I start with?
So we always want to go with whatever you're comfortable with. The end goal is always between 20% to 25%, like Becca said, to have in precious metals. But you can start lower wherever you start, whatever percentage you're comfortable with. That's a great place to start. And St. Joseph partners can walk you through that. If you want to jump right into the 20% to 25%, you can do that.
[00:20:58] Speaker C: The short piece is that you do it. You do it.
[00:21:04] Speaker B: Yeah. And that's probably start somewhere.
I say that all the time. Just start somewhere. So what should I start with?
So you can look on our website and you can see the different things we're offering. Ultimately, if you buy an ounce of silver in any form, unless it's a collector's item, you're getting an ounce of silver, and you have that value. Some of the collector's items do go for a higher price just because they are a collector's item. But overall, you're paying for the weight in the precious metal. Okay, so if I'm buying 5oz, I'm getting 5oz, right? Silver, silver, gold is gold. 5oz here, 5oz there, based on the spot price plus the premium is what I would be paying for that.
Should I buy more gold than silver? More silver than gold?
[00:22:00] Speaker C: Does it matter?
So my answer to that would be, if you're taking into your physical possession, you have to think about portability factor. $100,000 in gold is something that you can put in your pocket, get in a car and a plane, $100,000 in silver.
[00:22:14] Speaker B: You probably need a wheelbarrow to be.
[00:22:15] Speaker C: Taking that out of your house.
[00:22:18] Speaker B: So true. Yes.
[00:22:19] Speaker C: So I talk to people about portability factor.
A lot of people want to buy a lot of silver right now. It's important that we educate people, know what a 500 ounce box of silver looks like, how heavy it is. So, you know, just so you know, you can store it and keep it.
[00:22:34] Speaker B: Protected and go, is that why we see more people buying gold than silver, just for the portability side of things?
[00:22:41] Speaker C: I think, yes. And ultimately, historically, gold has always been the leader in precious metals. With silver a second coming up right behind it.
[00:22:49] Speaker B: Yeah.
[00:22:50] Speaker C: You know, you think of, you know, anything for the future. You know, the past pirates weren't looking for silver. They were looking for gold.
[00:22:56] Speaker B: Exactly. So that's what I ended up.
But you're exactly right.
Is one growing faster than another? Is that why we're seeing a run on silver right now? What drives that there?
[00:23:11] Speaker C: I mean, the market drives it. There's a lot of financial people out there that put podcasts out and articles. There is a lot of generation in the market currently, and there is a lot of talk that silver is under price at this point and that we are on the brink of a repricing for silver. And so because of that, we're finding a lot of people are jumping in and wanting to invest a good portion of their allocation of precious metals to silver.
[00:23:36] Speaker B: And when they do that, let's say I spent $100,000 on metals, and I'm like, oh, I'm going for the silver rush. No pun intended.
[00:23:45] Speaker C: Right.
[00:23:47] Speaker B: But there may be, and we're hearing a lot of that happening right now.
What is it going to cost me to have that delivered to me or delivered to depository? Is it really worth it, or am I just spending my appreciation on shipping?
[00:24:06] Speaker C: So, when you buy from St. Joseph Partners, the cost of the shipping insurance is including your purchase. Now, if you were to ship it to a depository, if later on you were stored with St. Joseph partners at the time you decided to take possession of it, at that point, you wouldn't pay to ship that to you. And of course, having several ounces of silver versus, you know, fewer ounces of gold would cost you less. I'd rather cost you more. And then, of course, the insurance purposes as well, when you're shipping that out to you.
[00:24:33] Speaker B: So something else to consider, right? Because you can eat away your revenue very quickly if you're not, if you're not wise about it. So that completely makes sense with the allocation side of things. And I didn't think of it in regards to weight until you guys said that, because I thought, well, why wouldn't you want to take advantage of this silver rush, right? But there's other things you need to consider in all of that when you buy it in a qualified fund.
Are we storing with St. Joseph Partners? No.
[00:25:07] Speaker C: So St. Joseph Partners is actually the vehicle for the purchasing of the precious metals you would be storing with a vault of your choice.
You would utilize preferred trust company as the custodian, and the customer would then choose the vault they would like to store it, and then the metals would deliver to the vault that they chose.
[00:25:24] Speaker B: Okay. Is there a requirement that it's stored.
[00:25:27] Speaker C: With a deposit where it's held in the self? When precious metals are bought under the umbrella of an IRA retirement account, precious metals, just like any other asset they have in retirement account, has to stay with that custodian at the time that they take possession of it. It would be considered a taxable event.
[00:25:44] Speaker B: So how often are clients coming to you to sell metals? Is that a regular basis? Is that all the time? I mean, you guys have it on your website that this is the price that you'll buy it back for. So what do you guys do with all those metals that you buy back?
[00:26:00] Speaker C: We take them into inventory. We resell them to people.
When people call and say they have so much silver, so much gold they'd like to sell, we'll quote them a price and give them the process of shipping it to us. However we counsel them, because based on the current times, if it's something they really need to do, absolutely, we'll buy them. But if you don't need to really sell it, we counsel them to hold it because they have a current portion invested in precious metals at this time, and they should continue to do that.
[00:26:29] Speaker B: Agree. If you can stop the train from leaving the tracks, by all means, you know, stop. Stop the train from leaving the tracks. The economic drivers, this volatility and the correlation or lack thereof, to precious metals, I'm assuming that you're taking a lot of calls because people are very concerned about what's going on with our economy and maybe a significant driver as to why people are buying. Right. It's to remove themselves from this volatility. It's to remove themselves from potential government attacks. I mean, if we're being really honest, are you guys facing a lot of that same dialogue with your clients? Is that a large percentage of your clients that are calling? And how do you.
I don't want to say combat it because you're not combating it. Right. But how do you work through those conversations with clients on the phone on a daily basis?
[00:27:35] Speaker C: You get around the gambit of who's calling from the person that's a first time investor just looking to buy a couple hundred ounces of silver, a couple ounces of gold to the person that's preparing because they're concerned about Costco under a central banking system, going to an electronic currency or, you know, or somewhere in the middle where they just want to do the protection of their wealth that they've worked very hard for.
At the end of the day, we're there to listen to them and educate them on what it is that they're looking to do.
We encourage them when they're making large decisions, to pray with their family to make sure they're doing the right. Making the right choice in what they want to do. But ultimately, we're there to educate them and help them achieve whatever it is that they're looking to do.
[00:28:20] Speaker B: What if I not asked you that? I should have asked you about St. Joseph Partners, about precious metals, about what the company stands for, what somebody should know. What did I miss in asking you, your general person that picks up the phone and calls you would typically ask.
[00:28:42] Speaker C: People come to us thinking that rolling a portion or all of the retirement plan into a self directed IRA is a very hard process. And it's not.
It's a very simple process. It does involve some paperwork, but between St. Joseph Partners and PTC working together, the process can be pretty seamless. It's just a matter of doing paperwork, educating them on the different metals that are available to them, and then, you know, working towards the end, which is making that purchase for them and depositing to the account.
[00:29:17] Speaker B: Yeah, I have to say, as the CEO of preferred trust, that's probably one of the biggest obstacles that we face. And one thing I would say to that as a financial institution, a licensed financial institution, is you have to expect there's going to be some paperwork, but that should be important for the individual to know that we're taking the time to complete the necessary paperwork, because, I mean, this is a retirement account, and the safety and the security of the retirement account is not only just with the assets held within it, but the account itself to make sure that we're maintaining that tax deferred or tax free option to them. So that's something that we're super passionate about. And we want individuals to know that there are some myths out there about, oh, it's so hard. Why would I want to do that? It's so much easier just to pull the cash out of my account and invest with that. Well, I always challenge people. Look under the hood of your retirement accounts. Look under the hood and see what's going on in those retirement accounts. It's either not making any money or losing money right now. That's the facts of what's going on with our retirement accounts. So if we have the opportunity to diversify into precious metals, we should be considering that because we've got some sustainability, some security. Right? And preservation.
Those are three things that we are probably currently not getting with our qualified plans. And that's probably the reason why you guys are sitting here saying somewhere between ten and 20%, because that could have saved a lot of our butts through what we've just explained. Not just this time. It will happen again. History continues to repeat itself. And as it does, we need to find assets that provide us that preservation of our capital.
It's what's going to sustain us in the future. So I can't agree with you more. I think initially, people are just, it's too much work. It's too much this. It's too much that. It's worth it.
[00:31:30] Speaker C: It is worth it.
[00:31:31] Speaker B: It's worth putting forth that effort. And we'll bridge the gap. We've had a longstanding relationship with St. Joseph partners, and we'll help you get through that paperwork.
Either one of us, you can call either one of us, and we certainly.
[00:31:46] Speaker C: Can help you with that.
[00:31:47] Speaker B: So, yeah, qualified plans, we can move a portion. Maybe it's all of one of your plans. It just depends on what your circumstance is. Another myth that I'm going to pay tax on it when I move from one qualified plan to another.
Absolutely. A misconception. That's not true either. But once we get it into that account, it's super easy to finish the process and buy the metals. So thank you so much for joining us today.
[00:32:17] Speaker A: Thanks for joining us. For another episode of PTC Point of view, where retirement savers meet alternative investments. Know someone who's struggling with their retirement strategy? Tell them about our show. Can't wait for the next episode. To learn more, visit our
[email protected], or give us a call at 888992.
