Lear Capital IRA Review
In today's precarious financial environment, investing in gold can be an intelligent decision. For centuries, gold has offered a safe haven to help protect against rising inflation, currency debasement and financial shocks.
Working with one of the top Gold IRA companies such as Lear Capital can help you safely and easily add this unique asset class to your portfolio.
Even better, using a self-directed gold IRA for this purpose can help you enhance your investment by harnessing powerful tax advantages.
#2 Longevity
Best Gold IRA Score 95.43
4.9
Spotlight:
- Endorsed by Glenn Beck
- Best Price Guarantee.
- Get up to $15,000 in free metals on new orders.
- $3 billion in trusted transactions since 1997.
- Hundreds of 5-star reviews.
- No fees on buy-backs.
Positives & Negatives
Lear Capital Positives
- 27 years strong with over $3 Billion in transactions
- Live Pricing and an Active E-Commerce Store
- 24 Hour Risk Free Purchase Guarantee
- Fast Shipping Direct To Your Home
- Free IRA Setup and Storage
- 4.9 Rating on Trustpilot
Lear Capital Negatives
- No International Storage Options
- U.S. Residents Only
Why Open a Gold-backed IRA?
In the past, you could put money into bonds to diversify and stabilize your portfolio. Today, with changing interest rates, bonds don't usually offer that same security. Meanwhile, stocks and other asset classes often experience profound volatility. Where can you turn to hedge your portfolio and safeguard your wealth?
For thousands of years, investors have used gold to help secure their wealth in uncertain times.
As an independent and universal currency, gold isn’t subject to the whims of any one government. Further, it tends to move differently than stocks and bonds, helping stabilize your wealth in volatile markets. That’s why many professional money managers recommend that investors maintain a reasonable allocation to gold at all times.
Today, this gold exposure is more important than ever. Given recent extensive money printing, rising inflation and growing government deficits, few assets can provide you the peace of mind that physical gold can.
Money is gold, and nothing else. If a man had the credit, and I had the money, his customer would be badly off.”
Why Work with Lear Capital?
We’ve ranked Lear Capital as #3 of our top Gold IRA companies. While all five are sound choices, Lear Capital has some significant differences that make it a good choice for many retirement savers.
- No fee buy-back program. Investors primarily engage in stock trading, effortlessly selling their shares with a mere press of the sell button or swiftly placing a call to their financial advisor. Physical precious metals are different. You must find a buyer, then coordinate payment and safe physical metals transfer. Lear Capital offers its customers a unique no fee buy-back program. This avoids hassles and provides immediate liquidity if and when you need it.
- Low minimum investment. Other top Gold IRA companies have high minimums, but not Lear Capital. Instead, like our number four winner American Hartford Gold, they require just a $10,000 minimum investment, as of this review, in a gold-backed IRA or direct (cash) purchase. This can make this gold investment much more accessible for newer investors.
- Price match guarantee. Lear always sends out your order invoice immediately after your purchase for you to review. You have 24 hours to take your time and find if you could purchase the metals at a better price. If you find a metal at a lower price they will beat or match that price. If they cannot match or beat the price, you can cancel your transaction with them at NO cost to you.
- Specialized expertise in metals and Gold IRAs. The team at Lear Capital brings 27+ years of rock solid experience with precious metals. The done over $3 Billion in transactions since their founding. They also are a trusted resource for financial advisors, estate planning attorneys and certified public accountants in the precious metals arena.
- Live Pricing and an Active E-Commerce Store. Lear Capital offers live pricing on their site along with an active E-Commerce store which features the most popular Gold & Silver coins. This can be convenient when you're busy but want to make quick purchases outside of an IRA.
- Great customer care. Like all the choices on our top Gold IRA companies list, Lear Capital offers stellar customer service, as evidenced by their customer ratings.
For these reasons, Lear Capital makes for an excellent candidate when evaluating top gold IRA companies. They are well-positioned to help you set up your Gold IRA account the right way. As importantly, they are easy to work with. To learn more and get started, visit their website. As with our other four picks, it's a good idea to request their free Gold & Silver Investment Kit to help make an informed decision.
After you contact them, one of their specialists will be in touch. In this call, they can arrange to ship your free kit and answer any initial questions you have about the service.
Lear Capital Reviews
Highly recommend Lear Capital as your precious metals broker. The representatives are understanding. I asked some, for lack of better words, incompetent questions and Christopher Glenka was reassuring and explained to me the answers to my questions. I had another rep. Armando Yee, helping me in purchasing the correct metals for my portfolio. They both took extra time to deal with all my questions even those that included liquidating the metals. I feel pretty confident in purchasing my metals from Lear Capital and working with Lear Capital in the future to come. If you’re looking for a decent broker that’ll take time to explain the process to you or any other questions you have, Lear Capital is your best bet. Especially if you’re a first time investor in precious metals, give Lear Capital a call.”
Richard
We decided to purchase from Lear Capital because of the patience of our account rep. Conor Maher. We had inquired with several metals companies and Conor was the only one who continued to follow up with us as we were battling to get some investment checks re issued so that we could make a purchase. It was a several month ordeal and Conor was willing to give his time, always there following up. The purchase was easy and so was the delivery process, with tracking info sent once the order was processed. Although we didn’t like having to wait three weeks before our purchase was processed and shipped. Outer packaging was discrete and inner packaging was well padded. The details of the order to include who packaged it was nice. We will likely order again through Lear Capital.”
Scott P.
Brad was so helpful and polite each time I talked to him. I also was pleased with the information he gave me. I knew nothing about selling precious metals. I was very pleased with the timing with things were handled. I would recommend Brad to my friends.”
Carol
Rating Details
Each year, we rank the best gold IRA companies. Our research thoroughly reviews the firm's ratings on leading consumer rating platforms. Here is more detail on what we found on Lear Capital.
- Trustpilot. Lear Capital is rated 4.8 out of 5 stars on Trustpilot based on 1,879 customer reviews (as of the date of our research). Trustpilot is a platform that provides an excellent starting point for consumer research. Lear Capital is a Verified Company with Trustpilot.
- Google My Business. Lear Capital holds a 4.8 out of a possible 5 rating on Google's search engine. This rating is calculated based on 346 ratings as of the date of our review.
- Consumer Affairs. Lear Capital is rated at 4.9 out of 5 stars on Consumer Affairs based on 1,316 reviews to date.
These ratings are a very good indication in our opinion that the company is on the right track regarding customer satisfaction and care.
Thus, this research lead to our ranking Lear Capital as the #3 of our top Gold IRA companies; a rising star for 2024.
Lear Capital IRA Review of Fees and Costs
Lear Capital offers gold and other precious metals either for direct cash purchase or through a self-directed IRA. Please contact the firm directly if you are considering a cash (non-IRA) purchase. Here is our review of their fees and costs.
(Please note that fee information is current as of this review.)
Lear Capital uses the services of Delaware Depository, which backs its storage services with a comprehensive insurance policy that’s underwritten by Lloyd’s of London, one of the world’s oldest insurance providers, as their primary storage facility.
Fees and Costs Related to Lear Capital Gold IRAs
Like all of our top-ranked Gold IRA companies, Lear Capital has fair pricing. Moreover, here’s what you can expect:
- Lear Capital has a $10,000 minimum for either a direct (cash) gold investment or a Gold IRA. (This is much lower than some other top Gold IRA companies.)
- For the first year, Lear Capital charges a one-time fee of $280 for setup and ongoing maintenance, followed by an annual charge of $200 for certain self-directed IRAs. It's important to mention that these fees may fluctuate depending on the investment sum, and they encompass storage, insurance, as well as continuous online account access.
- This cost includes secure segregated storage of your physical precious metals, insurance, and access to your online account which provides real-time tracking of your assets.
- Please note there are companies advertising that the fees are $160 per year. That is not segregated storage but commingled storage at the depository.
- Lear Capital does not recommend commingled storage as an option as it does not give you full ownership of the metal. Please visit with your Lear Capital Precious Metals Specialist for more information.
To get started, visit Lear Capital’s website here. Don’t forget to request their free self-directed precious metal IRA kit.
Once you order the complimentary kit, you'll be contacted by a Lear Capital specialist to discuss your goals and answer your questions.
Current Promotions Available with Lear Capital:
- Get up to $15,000 in bonus coins on new orders
- Lear Capital will pay your first year's fees on qualifying accounts
How To Claim: Just mention these promotions when talking to any Lear Capital representative.
Ready to get started? Visit the Lear Capital website. Don’t forget to request their Gold and Silver Investment Guide. It's complimentary and can help you get up to speed on how to buy precious metals safely.
History of Lear Capital
The firm was founded in 2017 by industry veterans Charles Thorngren and Collin Plume. For more than two decades, Lear Capital has been a top Gold IRA company, providing families with a secure way to save for long-term financial goals.
Lear Capital offers a variety of precious metals and Gold IRA products and services. They also facilitate Gold IRA rollovers for those who want to move their existing retirement savings into a gold-backed IRA. Lear Capital has a team of experienced and knowledgeable specialists who can help you choose the suitable gold investment for your needs.
The firm is headquartered in Pasadena, California, and remains dedicated to education and customer service. Lear Capital remains a solid choice if you're looking for a top Gold IRA company.
Why Choose Lear Capital for a Self-Directed IRA?
Adding gold to your portfolio is a time-tested strategy to help safeguard your wealth. Many people find that holding their gold in a tax-advantaged vehicle, such as a self-directed gold-backed IRA, makes the strategy even more effective.
Especially during turbulent times, increasing your holdings of physical gold and precious metals can create peace of mind. Lear Capital specializes in helping people do just that. Whether you buy direct or go with a gold IRA, the company can help you do it right so you maintain all tax benefits.
Specialist Providers
As specialist providers, they also focus on education and assistance, so you can feel comfortable with your investment. This hands-on, full-service approach is perfect for investors new to precious metals, as there are significant differences between investing in stocks, bonds or mutual funds and physical metals.
- Gold, viewed as a valuable asset for thousands of years, remains steadfast despite the transient nature of investing fads. It can serve as a stable investment in times of economic crisis and political strife. People often turn to gold during these difficult times to help stabilize and protect their wealth.
- Gold has historically helped people fight off the ravages of inflation. Holding an allocation to gold can help preserve your purchasing power now and in the future.
- As a universal currency, gold provides a store of value independent of government actions and policies. By holding gold, you can free yourself from the volatility and conversion issues of many national currencies like the U.S. Dollar.
- Gold is recognized for its ability to diversify your portfolio. That’s because it is non-correlated, which means it tends to move independently of stocks and bonds. Keeping a percentage of your portfolio in gold can help smooth out your returns over long periods.
By choosing Lear Capital to set up an IRA, you can realize all these benefits while lowering your tax burden on your gold investment.
Setting up a Gold IRA with Lear Capital
Regular individual retirement accounts, or IRAs, are quite common. There’s nothing unusual about them, so they are relatively easy and quick to set up. Self-directed Gold IRAs, on the other hand, are less common. They require you to follow some precise regulations. If you make a mistake, you can risk the loss of tax benefits or incur steep penalties.
That’s why it is essential to do it right. We recommend only working with the top Gold IRA companies, such as Lear Capital. They have extensive experience forming and maintaining these gold-backed retirement accounts.
Here are the general steps involved in setting up a Gold IRA
Step 1. Fill out the Paperwork for your New Account
First, you will need to open a new self-directed Gold IRA account to hold the precious metals you intend to purchase. If you are rolling over (converting) an existing retirement account, arrange this now. Your Lear Capital representative will help you complete the paperwork correctly and may recommend consulting your tax professional for any technical tax advice.
Step 2. Select a Custodian for the Gold IRA
The IRS requires that you utilize an approved, independent custodian to administer the account. Your Lear Capital representative will recommend suitable options.
Step 3. Buy the Gold (and other Precious Metals) for the Account
Next, you will select the investments you want to put into the Gold IRA. IRS regulations that include purity standards allow only certain metal coins and bars. Your account representative will help you select metals that meet these requirements.
Step 4. Select a Storage Facility for Your Precious Metals
Your final step will be to choose where your gold will be stored. Lear Capital will help you select an appropriate storage location. They partner with purpose-built depositories that employ state-of-the-art security and technology to keep your assets safe. Lear Capital will arrange secured shipping for you.
That's the entire process. Just be aware that these steps can sometimes take a few weeks from start to finish.
Frequently asked questions about Lear Capital:
How do I Roll Over an Existing Account to a Gold IRA?
Rolling over a retirement account into a new IRA is generally straightforward. Still, following the steps carefully is essential to avoid penalties or losing any tax benefits. That's why it is best to work directly with the Lear Capital team to ensure it is done right.
If you have funds from your previous retirement account sent directly to you, there is a fixed time during which you must re-deposit them in the new IRA. If you are late, the penalties can be steep. You can avoid this by arranging a direct transfer from one custodian to another. This minimizes the risk of a simple mistake creating a tax problem for you. Rely on your Lear Capital representative to guide you and help avoid unnecessary problems.
Why would Lear Capital be a good choice for me?
Any of our top Gold IRA companies are quality choices, but Lear Capital may be ideal for you if you want to start with a smaller account. That's because they have a very low minimum of $10,000. They also have a no-fee buyback policy which can help you feel confident if you ever need to quickly liquidate your holdings. Additionally, they are very experienced with self-directed Gold IRAs, making them a good choice if you’re interested in that type of retirement account.
Which precious metals does Lear Capital sell?
Lear Capital offers gold, silver, platinum and palladium bars and coins. Only bars and coins of sufficient purity are allowed as investments in a gold-backed IRA.
What is the advantage of buying physical gold instead of a Gold ETF?
Today, there are some exchange-traded funds (“ETFs”) that are offered as an alternative to holding physical precious metals. However, these come with their own risks and complications. First, most people buy physical precious metals because there is no counterparty risk. No bank or government can tamper with your gold. But with these ETFs, there are many parties involved. If a severe financial crisis strikes and one party can’t or won’t fulfill their obligation, it can impact the value of your investment. A recent Forbes article outlines this and other dangers of these physical gold ETFs.
Additionally, with the popular GLD ETF, other financial professionals have warned that these funds do not have appropriate safeguards. They warn that as a result, these funds may lose value precisely at the time you need them most.
That’s why it is usually wise to stick with physical gold so these complex (and unproven) arrangements don't threaten the value of your investment
Isn’t it easier to just buy the stocks of gold miners that are already listed equities?
Yes, it can definitely be more convenient. However, the stocks of gold miners are one of the most volatile sectors in the market. Then, while you do get some movement in synch with gold prices, these companies have other pressures that can impact their pricing. The industry is a big oil user, so if the oil price goes up, that can limit their profits.
Owning physical gold is more like owning insurance. Owning shares of gold miners is not the same. In fact, holding these stocks can bring many other risks into your financial situation due to the sector's inherent volatility. For that reason, many experienced gold investors primarily buy physical metals, then hold a small allocation to gold miners if they want additional exposure.
What questions should I ask when researching Gold IRA companies?
When adding gold to your portfolio, it's essential to do your research and only work with the top-rated gold companies. Steer clear of new firms or those that offer pricing that seems too good to be true. Reputable firms do not need to resort to too much discounting, and you may put your money at risk working with unproven firms. Here are some tips for finding a firm that will serve you well and stay around for the long run.
- We recommend starting with our top Gold IRA companies. We’ve vetted these firms based on proven history in the industry, customer feedback and other metrics.
- Insist on firms that have demonstrated expertise in Gold IRAs. You don't want to risk losing tax benefits or penalties, and these accounts have specific regulations.
- Always pay attention to the company's customer ratings before working with them. Given your money is at stake, you can’t afford to work with a firm where customers are dissatisfied. A lack of customer service could end up being an inconvenience for you, or worse, it could mean an unethical or financially unstable business. Of course, firms that have been in business for many years can expect the occasional negative review, but look for overall high ratings and avoid those with patterns of recent complaints.
- Look for Gold IRA companies that are transparent with their fees and costs. Sound, reputable firms can afford to be clear about their prices. If there is a free giveaway or other tactics that seem too good to be true, you’ll probably pay more elsewhere to make up for it.
In conclusion, are you ready to start with a Gold IRA? Get in touch with Lear Capital today to order their free Gold and Silver Investment Guide. There's no cost and absolutely no obligation.
Best Gold IRA Score 95.43
4.9
