Investing in Physical Gold & Silver with Your IRA

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Welcome everyone to a special Directed IRA webinar and directed IRA podcast.
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This is Matt Sornson, your host today, and I'm excited to be talking about precious metals and investing in precious metals.
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That was the hot asset last year, best performing asset, gold and silver in particular.
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A lot of people did well on precious metals.
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And I want to talk about it today, how we're looking in 2026, how investors are thinking about this.
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But let's be honest, you do not want to know what Matt Stornson thinks about precious metals.
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Um I have a great perspective on IRAs and what you can do, but I have David McLeany here from McLeany Precious Metals.
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We'll bring him on here in a second.
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He's worked in this space for decades.
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Um, and uh we're gonna be leaning on him for his insights.
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We've had many IRA account holders work with him and investing their IRA in precious metals.
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We always enjoy getting his expertise.
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He speaks across the country and is a known expert in this space.
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Um, before we dig into that, though, that is the topic of the day.
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We're excited to get into uh I have a couple announcements.
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First, our alt asset summit that David spoke at last year.
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We had some other great speakers on all the other alternative assets, but our next alt asset summit is coming up October 22nd and 23rd.
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That'll be live in Costa Mesa, California.
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That's in Orange County.
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Get to that event.
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You will meet other like-minded investors.
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We have hundreds of our customers from Directed IRA that are there, many other account owners, like-minded investors like you, figuring out how to grow and build retirement.
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We also do for any directed IRA customers, a customer appreciation event that evening.
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Last year, I had three account holders, two of them in the tens of millions with Roth accounts, one of them with over 100 million, talking about how they grow and build wealth.
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So not only do you get amazing speakers across different assets that you can use with the self-directed IRA, but you also get to meet other investors and some successful investors that have done very well as well.
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So want to make sure you're there.
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Altassetsummit.com, go to altassetsummit.com and you can register for that.
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If you do have an accountant directed, check the newsletter because there's a discount code in there that'll save you some money.
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Maybe we'll drop it in the chat too, uh, in case some of you want to register now.
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Let's get into the topic today.
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And I want to introduce David McIlvaney of McClaney Precious Metals.
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David's been in this space, like I said, for decades, a well-known expert.
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When we've worked with precious metals customers and when we were out in the industry talking, who should we work with?
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Who can we rely on on a precious metals dealer?
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Um, David McElvany's name came up in his company, and we've had a great relationship working with them.
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And if uh and and and I'll say this in the precious metal space, and this is some of the questions we're gonna get into.
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Not all companies in the precious metal space are great to work with.
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Um so as an investor, you want to work with someone that's had a track record and been around for a while.
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Um, so David, welcome.
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Um, thank you for being on.
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It's good to see you.
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Thank you.
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Great to be with you.
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All right.
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Well, I'm gonna dig in with questions, and uh, I've got a lot of them here.
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I know you guys may have questions.
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Follow Aaron's instructions on how to do this, but I'll get the conversation started here.
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Um let's just start like kind of big picture.
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Why are people investing in precious metals?
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And what is like the what's the compelling reason of why this has been an asset class for, I don't know, maybe thousands of years.
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I don't know, for a long time it's been an investment asset.
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Yeah, I think people look at it as a way to diversify their portfolio and to do that with a non-correlated asset.
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So it tends to not move with equities.
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And on that basis, it it over time lowers as a part for part of a portfolio mix, it lowers volatility and increases returns, uh, assuming you do some sort of a routine rebalance between your riskier growth assets and gold.
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Uh, there are years where gold will outperform and years where it will underperform.
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So having it in balance with other assets is is really critical, but it's an amazing diversifier.
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You know, I think that's how a lot of people have looked at precious metals is kind of this counterbalance to the stock market or hedge.
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Um but last year, you know, the stock market did well and precious metals did well.
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We had some weird years.
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Um, like what do you how are you thinking about precious metals now?
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Um you know, and this year it might be more of a counterbalance, I don't know, but like we've had some interesting years where stock market and precious metals performed well.
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Like what was happening?
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Yeah, I think that was clear.
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The big driver of the metals market in recent years has not been retail investors, it's been central banks.
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And they have looked at their reserves through a different lens following 2022 when Russia invaded Ukraine and the U.S.
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Treasury seized$300 billion in foreign currency reserves.
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Central banks all of a sudden said, if it's not in our hot little hand, we may not have access to it when we need it.
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So reserve management has shifted dramatically.
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They doubled the ounces that they were buying on an annual basis from 500 tons to right around 1,000 tons a year.
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And I think that appetite is still there.
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The most recent interviews with central banks, uh 45% expected to add to their positions this year.
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Uh, close to 90% were looking at it and said, if we're not adding, we see the central bank community continuing to add.
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So positive vibes from them.
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And you get the swing investor.
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Um, I should say that the swing move in the price really has to do with the investment community.
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And those catalysts can be inflation concerns, geopolitical concerns, um stock market volatility.
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It's viewed as a safe haven when other things are under pressure.
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And so maybe a longer discussion about debt deficits, sustainability of fiscal policy, monetary policy, and the trajectory of those things.
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Um, but gold has performed in line and in fact better than the stock market in a couple of years.
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If you go back over the last 25 years, in gold terms, the Dow is down 70 percent.
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And and so sometimes you look in nominal terms and looks very impressive.
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It's up like 4.6 times in 25 plus years.
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Um, but the Dow gold ratio was 43 to 1 25 years ago.
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It's 13 to 1 now.
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Uh gold has outperformed equities over the last 25 years.
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We see that ratio continuing to contract in the direction of a three to one ratio.
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And at that point, I think folks are gonna have to lighten up on gold.
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Uh you'll have better, you'll have great greener grass, so to say, in in the equity space.
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Yeah, so I think so in in kind of a very general sense here, and I know there's all the geopolitical stuff, um, there's the deficit, there's um inflation, there's so many things going on in the world that can that can incentivize people to be like, I'd rather have gold right now.
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But a one of the primary drivers can be hey, the stock market's a little too frothy right now.
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I'd rather be in precious metals or the stock market's falling off a cliff and I'm scared of it, so I'd rather get into precious metals.
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So it's been like this for as you mentioned earlier, retail investor is like I'm not loving where the stock market's at, so I'd rather go seek haven somewhere else.
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And precious metals have been a home for that kind of that that that feeling that people have and where to allocate some dollars.
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Yeah, Matt, I think the the key there is that something is different now than it was over the last several decades.
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And it this is really well reflected in Mike Wilson's comments last October, November, when he said the 60-40 portfolio, that traditional mix of 60% stocks, 40% bonds, that model's broken.
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And reducing your bond exposure makes a lot of sense.
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So he's suggesting 60-20-20, 60% equities, 20% bonds, 20% gold.
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Why would you reduce your bond position by half from 40 to 20?
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It's because you've got a bond market which is facing things that it hasn't in a long time, inflation and higher rates.
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And that's not positive for performance in the bond market.
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So if you wanted to take money out of the stock market, traditionally you would de-risk go to bonds, except that it's kind of frying pan to fire in the context of inflation and rising rates.
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So he sees a lot of headroom for gold in the context of the bond market being impaired.
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Where else do you go for a safe haven?
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It it'll it'll pick up a lot of safe haven demand.
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Yeah.
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What do you think about cryptocurrency as that's came in and it's gone a lot more in vogue?
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A lot more people have invested money into it, institutions, individuals.
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Is it does it compete with precious metals, with the actual physical gold?
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I mean, a lot of people refer to Bitcoin as digital gold.
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Uh, we definitely have people that invest in it with their IRAs, even even I have too.
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But like how how do you see that playing out and investors thinking, well, I do want some diversification from the stock market in particular.
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Maybe that's in precious metals or crypto, or maybe it's in both.
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How do you see that?
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How have you seen successful investors like approach that?
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Yeah, I the successful investors that I know, particularly in crypto, were early adopters.
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And so they've got a cost basis advantage.
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Uh they've always treated it as a risk asset and position sized accordingly.
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So you're talking about a small percentage allocation and a total total portfolio.
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And uh if it works, great.
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If it doesn't, it hasn't impaired your performance being a smaller position.
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Uh tends to perform in line with other risk assets.
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And so as as a non-correlated asset, as a as a safe haven, I think you're talking apples and oranges.
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Uh so gold is what central banks buy and it's what large investors position assets in.
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Uh traditionally, your European allocator would have a 10% allocation to gold in terms of total net worth, which is which is a pretty sizable number.
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And you know, again, it's just kind of a ballast asset uh there as a reserve.
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And you know, you you start to realize the value of having a liquid reserve asset when other things are under pressure.
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And all of a sudden you can utilize that liquid position to reposition, uh, refortify even lower cost basis in other assets that might be under pressure.
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That's why that sort of annual rebalance or or periodic rebalance is so key.
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And it's one of the ways that you can improve performance, lower the total volatility of a portfolio, and improve long-term performance with an adequate position in gold, balanced with equities and other assets.
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But crypto, um, again, I would categorize it as a risk asset as opposed to a safe haven.
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Yeah, and I think um, you know, at the alt asset summit you spoke at last year, I did a presentation called um the crazy hot matrix, which was basically if any of you have seen that YouTube video on like, you know, this is a guy teaching other men how to like find a spouse, and it was like ranked women on the X and Y axis of crazy and hot, basically.
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So I took that same matrix.
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It's a hilarious, it trended well on YouTube.
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Oh, yeah.
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You can do it for men too, ladies.
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You know, you can reverse it, it works similar.
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Um, but uh, but I took that for investments, and I and it was risk versus return on the X and Y axis.
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And if you looked at crypto, we put it on a very high risk but high return, which is hot and crazy.
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So and I think you know, precious metals on the other hand would be lower risk, traditionally lower return.
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I wouldn't put it certain certainly like like a crypto type high return or an angel or venture investing, but it definitely has a much riskier, uh lower risk profile um than cryptocurrency.
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Which I mean, you'd agree with that, right?
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I mean, I think that's pretty like how most people's perspective between the two.
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I think you you nailed it.
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And like I think the big differentiator from crypto to precious metals is crypto is just such a higher risk.
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Yeah, gold is boring until it's not.
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And as they say, you know, there's decades where nothing happened, and then there's weeks where decades happen.
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And that's what you tend to see in the metals market.
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They are very responsive to uh concerns, uh diminishment of trust, whether that's institutional trust or market trust, and the adjustments in price can happen fairly quickly.
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Last year, 65% in in gold, 165% in silver.
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Um, big moves.
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We're digesting those moves now.
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Uh in the what is a very healthy and and normal correction given last year is uh just stellar performance.
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Yeah.
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What do you think as to timing?
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Because I think a lot of people saw that run last year, and it kind of surprised people.
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Even I, me, when I was doing that, my research on the crazy hot major, I was like, what investment assets performed great last year?
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And I was actually surprised to see that precious metals beat out every asset category.
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Um, actually.
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And um, and you know, you hear the um the saying from Warren Buffett be greedy when others are fearful and fearful when others are greedy.
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And what was last year the um, you know, it ran up and there was a little bit of greedy there, and people got fearful.
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I mean, how and how do you think about like, so what do I do as an investor now sitting here in 2026?
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You said there's been some digestion.
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Well, timing, timing is important to keep in mind with the metals market.
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Uh, you generally put in the lows between June and July each year.
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So there's a lull in price and performance, and typically things pick up in August and September.
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So the timing of our interview is is great.
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Uh if you're looking at positioning, we're well off the peaks.
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Uh the structural supports for the metals market are very strong.
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And you know, I think the the number of family offices, high net worth individuals, central banks, sovereign wealth funds that continue to take an interest in gold and position, um, you're you're in pretty good company.
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Um we did not see a ton of investor interest or froth until late in the fourth quarter last year.
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So there was a lot of price action, but most of it came from central bank buying.
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And then as we got into the fourth quarter, certainly some derivatives trades, because obviously gold and silver have a futures market and options market, and that's where we saw some some sort of fast and furious hot money come in late, and they're already gone.
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So sentiment indicators in gold, if you're a contrarian, uh sentiment would say don't touch this asset with a 10-foot pole.
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I like that.
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So to take uh Buffett's adage, you know, I think it's it's wise to look at things when they're selling cheap and nobody's paying attention, and maybe let the market own them when everyone's paying attention.
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Tell you the sentiment indicators in the metals market are are practically dead.
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Uh COT reports, um, you know, there's just there's nobody paying any attention to the asset, which is great.
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That's that's when you want to buy it, not when everyone else is chasing the price.
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Yeah, yeah, that's great insight.
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Um what would you say to someone that's getting new into this, into precious metals?
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They're familiar with other assets, they might have, you know, the typical stock market equity stuff, or or maybe they've had that 60-40 portfolio, or maybe they even own a rental property, or say a small business, and um, but they're new to precious metals.
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How would you start approaching that and think through that for them?
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Yeah, I think with every asset class, education is really important.
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And it's something that we prize, we've been doing this for 54 years and uh love bringing people along to understand the asset class and the best way to position a portfolio, how you construct the portfolio gives you lots of options, particularly within an IRA, uh, because there's ways that you can trade the metals and compound ounces, not just wait for a price improvement.
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So we look at the gold-silver ratio, we look at premiums on particular product.
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When there's no premium on those products, we're buyer.
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When it's the high premium, we we are happy to sell, and and you over time are accumulating more ounces for free.
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So that compounding of ounces um requires some strategy.
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It requires a real discussion and education, uh, which we're more than happy to engage with.
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Yeah, okay, let's dig into that.
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And I want to talk about your IRA too.
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So for everyone listening, just so you know, your IRA can own precious metals, like the physical precious metals we're talking about here, not like uh ETF or something like that, but it can actually own the physical gold or silver, and you can be trading that with your IRA or or buying and holding.
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But let's talk about that because I think a lot of people, there's one perspective on precious metals of let me just buy it and own it.
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I'm just gonna be in that asset for the long haul, versus this trading strategy, which I know many of your clients are doing uh with that.
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And um let's let's maybe walk through that because with a little more detail.
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Um, but also I want to layer in uh how an IRA is kind of cool in that strategy too, if we could.
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So let's um let's just start with like the the strategy that you're doing and you unpack that a little bit that you were just mentioning.
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Yeah, I I mean so when you look at gold and silver, there's always a leader and always a laggard.
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And you're just buying the value play in that mix.
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And as the as the gap closes, uh you then are moving from what was undervalued and is now overvalued to the other asset.
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And to be able to play that volatility between the metals, because they're constantly, you know, they're switching between who's the leader and who's the laggard in terms of performance, that allows you to be heavier into gold at one part of the cycle, be heavier into silver at one part of the cycle, or you can even play that ratio between platinum and palladium as well, other precious metals that are IRA allowable.
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The premium if I can say just to keep it put it in layman's terms for everyone, is like in essentially what you're doing is from your perspective on that spread, you're buying it at discount and selling at a premium.
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That's right.
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That's right.
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And and it's just, I mean, that's where it's not rocket science.
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We don't have a lot of competition in the space, in part because our cost structure is low enough that it allows us to have lots of accretive trades for clients, whereas most of our competition charges way too much money.
00:19:24.240 --> 00:19:24.319
Yeah.
00:19:24.559 --> 00:19:33.200
And they could never get back to a point where the client is making money and making more than they're giving up in commissions.
00:19:33.440 --> 00:19:36.880
So that's a part of the reason why we've we've differentiated ourselves.
00:19:37.119 --> 00:19:42.079
First company in the US to put metals into IRAs back in 1986.
00:19:42.559 --> 00:19:51.519
And this trading strategy of compounding ounces between gold and silver uh has been super effective for growing the number of ounces that you have.
00:19:51.680 --> 00:19:54.720
Now, of course, if the price moves, that's wonderful.
00:19:54.799 --> 00:19:59.200
But now it's off of a larger base, which is which is really the effective part.
00:19:59.839 --> 00:20:00.480
Yeah.
00:20:00.799 --> 00:20:12.400
So um, and let's let's talk about now using your IRA, um, which, you know, first of all, you couldn't even own like gold, you know, for yourself, and then and then then you could own it in your IRA.
00:20:12.480 --> 00:20:14.480
There was changes to the IRA rules.
00:20:14.720 --> 00:20:21.599
Um, but this has been around for a long time now, and people being able to own physical precious metals, trade them in your IRA.
00:20:21.680 --> 00:20:32.960
But if you think about this on an individual side, if I'm doing that personally, right, all these trades, I'm gonna have some short-term gains on these things accumulating, some tax cost in there.
00:20:33.119 --> 00:20:46.319
Um, your capital gains rate is actually at a premium because the precious metals are you don't get the 20%, I think it's 28% on on on the for even for long term, let alone short term at your ordinary rates.
00:20:46.559 --> 00:20:51.680
So the the tax drag on that strategy can hurt you individually.
00:20:51.839 --> 00:20:56.720
Um, and you're only paying tax if you're making money on that, but it's still there's a drag that that tax cost is eating into it.
00:20:56.799 --> 00:21:01.359
But with your IRA, you're buying and selling precious smells, there's no tax, right?
00:21:01.519 --> 00:21:10.079
I'm that the the gains I'm making on the strategy there, the whole gain is building in my IRA.
00:21:10.480 --> 00:21:23.599
Yeah, I think one of the ways that you have effectively educated and helped people understand their IRAs is that if you can capture some growth inside that IRA structure, it's very wealth transformative.
00:21:24.160 --> 00:21:32.079
And in most people look at metals and they're like, okay, so I own a few ounces and you know, this decade it's up and next decade it's down.
00:21:32.319 --> 00:21:34.240
Net net, why do I own this stuff?
00:21:34.559 --> 00:21:41.599
Well, in integrating a compounding out strategy into an IRA, it doesn't matter if you're in a bull market or bear market.
00:21:41.680 --> 00:21:44.720
You're just continuing to grow the ounces that you have.
00:21:44.880 --> 00:21:54.960
Like a farmer might grow from having 300 acres to 500 acres to a thousand acres, never really pricing what is the price of an acre today.
00:21:55.200 --> 00:21:59.759
Less relevant as long as he's compounding and growing the number of acres he's got, or square feet.
00:22:00.079 --> 00:22:02.400
feed if you're a if you're a homeowner.
00:22:02.960 --> 00:22:07.519
I think that's you know being inside of an IRA, that's where the magic happens.
00:22:07.680 --> 00:22:12.160
That's where the magic happens with with a precious metals compounding out strategy.
00:22:12.960 --> 00:22:27.680
Yeah, and I and I I love that because that's for many people, you know, I mean the goal of everybody with their retirement account is to have the largest account possible when when we hit 59 and a half or whenever we're really trying to start living off of that.
00:22:28.000 --> 00:22:38.480
And as we think of the investment opportunities we have, no matter what the asset is, that's the power of the self-directed IRA is I get to keep every penny of the return.
00:22:38.559 --> 00:22:41.359
And that's going to compound and grow faster.
00:22:41.680 --> 00:23:08.799
So um so this trading strategy, okay, great, I'm making money, I'm compounding, I'm growing, I'm building the value of the account and I'm going to do that faster and get a lot farther than if I was doing this personally with my individual dollars and it's hitting my 1040 and I'm sending the IRS in the state money every year, which is not dollars that could have otherwise gotten reinvested and helped grow and compound next year and next year and next year.
00:23:08.880 --> 00:23:12.720
So um so super powerful and that's the whole point of IRAs.
00:23:12.799 --> 00:23:19.440
And the sad thing is too many people have thought about that for you know, well my IRA can do stocks or it can do mutual funds.
00:23:19.519 --> 00:23:25.920
They just haven't thought of these other assets that are out there to being able to be owned in their IRA.
00:23:26.640 --> 00:23:39.920
Yeah metals I think are kind of an unsung hero in a portfolio we talked about lower volatility, noncorrelation, diversification benefits very rarely do people think of them as growth assets.
00:23:40.000 --> 00:23:42.799
They can fall off the radar for long periods of time.
00:23:43.359 --> 00:23:48.079
What moves the metals to higher prices is is really important.
00:23:48.319 --> 00:23:51.440
Are we in a bull market and what drives that bull market?
00:23:51.599 --> 00:23:53.759
Are we close to an end in that bull market?
00:23:54.559 --> 00:24:34.640
There's sort of an adoption cycle with within any asset class and you've got the early adopters kind of maverick thinkers and and those are the patient long-term holders of of metals when when Wall Street begins to take an interest which they did in 2013, 14, 15, they created a whole number of mutual funds and ETFs and things like that, that's kind of the stage two of a bull market where you tend to see the fireworks is stage three when there's lots of products for people to own Wall Street has an opportunity to make money on the trades themselves and investors come in mass.
00:24:35.119 --> 00:24:45.920
To be honest we really haven't seen that yet even with last year's price performance I think we are sort of early in that last stage of a bull market.
00:24:46.240 --> 00:24:53.759
That could be two, three, four, five years yet of really spectacular growth in gold and silver.
00:24:54.000 --> 00:24:56.799
And this comes down to basic supply and demand.
00:24:57.279 --> 00:25:14.559
You've got 3700 tons that are produced and we'll just talk to gold for now 3700 tons a year coming from mines and close to a third well not quite a third of that 20-25% of that is taken from central banks at this point.
00:25:15.039 --> 00:25:20.400
So they're competing for available supply there's all kinds of industrial uses as well.
00:25:20.720 --> 00:25:46.319
Investor demand is really what drives the price and that's in light of inflation expectations, in light of debt sustainability, which is something that's going to be hard for us to work away from$40 trillion in debt today interest component is roughly 20%, between 20 and 25% of all tax revenue is going just to pay interest.
00:25:46.480 --> 00:25:48.960
It's the one of the largest line items on the federal budget.
00:25:49.359 --> 00:25:53.839
We spend more on interest today than we do on national defense, which is just stunning.
00:25:54.079 --> 00:26:10.480
So this is this is a problem that actually compounds negatively and creates real tension in terms of confidence with our currency, confidence with our debt markets that ends up getting on the radar screen of a, of enough investors and they start that migration process.
00:26:11.680 --> 00:26:15.599
If you wanted a baseball analogy we could be in the sixth inning.
00:26:15.759 --> 00:26:21.279
I think we've got some more innings to go and this is this is where all the action happens.
00:26:21.759 --> 00:26:22.400
Yeah.
00:26:23.440 --> 00:26:25.920
Awesome well let's see if we have questions here.
00:26:26.000 --> 00:26:27.200
I'm gonna turn it over to Aaron.
00:26:27.279 --> 00:26:40.880
We'll grab some questions I don't want to dominate the conversation it's just not get Matt's questions answered I have a couple more though I'm not done so I still get a couple more I'm just gonna reserve those so um let's turn over to Aaron see if we got some any any questions live for David.
00:26:41.119 --> 00:26:46.000
And I can answer any two but you know better to get what David thinks it's about precious metals.
00:26:48.079 --> 00:26:50.640
Okay this is a good one.
00:26:50.960 --> 00:28:29.279
Thanks Kim she messaged in um a couple questions so we'll hit yours uh first oh it looks like we have a part one part two love that okay so Kim uh is asking about a solo 401k with directed IRA thank you Kim and is also invested in an IRA LLC as a hundred percent owner uh can the IRA LLC write a check to purchase approved precious metals question one absolutely okay and we'll and let's walk well let's walk through kind of that structure here in a minute she uh follows up with what are the special precautions and steps involved for using a safe deposit box at a financial institution like a bank um I've read about this literally two hours ago in Matt's uh latest edition of the self-directed IRA handbook um thanks for hosting the webinar today all right I'll I'll fill that one go for it Matt yeah so um so with precious metals great right the the approved metals you can own in your IRA are gold silver platinum and palladium and there's some requirements in that to some detail on that like some fineness requirements or specifically approved coins but um but those are the four precious metals you can buy and we typically see gold and silver as being the big big big metals now there's also a storage requirement for IRAs I will I don't we can punt on the solo K question because it's an unresolved question.
00:28:29.359 --> 00:28:32.240
There's not technically a storage requirement on solo 401k.
00:28:32.480 --> 00:29:12.480
Yeah let's punt that so um so I'll I'll just say that I still recommend storage with the custodian but you you don't have to in a solo 401 but the storage requirement basically says you need to have the metals custodied with someone who's a bank credit union or trust company and so we custody our metals through a third party trust company that we have a contract with a lot of companies in this space do McIlvain David you know McIlvain and his company they use them as well called Delaware Depository Trust Company like they're in the business of like being a Fort Knox okay like we're a trust company I could store your metals in our offices here but that we do not want to do that.
00:29:12.559 --> 00:29:45.039
We are not a security type place okay these types of storage facilities they literally scan every employee coming out of in and out of that business and if you have a filling with silver you need to declare that they will know if you're coming in and out of facility and any that small of metal is detected on you they will know so um so there's a security and and and reason why you're using those facilities but it's also a legal requirement okay if your IRA's gonna own it.
00:29:45.119 --> 00:30:04.319
Now in an IRA LLC you have your IRA own an LLC 100% and now you have a checkbook with the LLC now you can write the checks to go buy the precious metals they still got to be the qualifying metals gold silver platinum palladium but the question is how what do I do with storage?
00:30:04.480 --> 00:30:31.359
Well the storage rule still applies to the LLC now some people have made the case and I've I've kind of said this is a gray area it's in my book of well now I have this LLC I don't want to store the precious metals at this Delaware depository trust company or some third party facility I just want to put it at the bank where my LLC checking account is at and I'll put it in a safety deposit box at that bank.
00:30:31.599 --> 00:30:47.599
Does that satisfy the requirement my answer is probably but someone's gonna be the test case and I can't say for certain and I've been giving that answer for the same the last 10, 15 years because no one's got audited on that and the IRS has given zero guidance.
00:30:47.680 --> 00:30:49.279
It is literally a gray area.
00:30:49.599 --> 00:30:53.440
For me, I wouldn't do that like my own account I probably I wouldn't do that.
00:30:53.599 --> 00:31:00.880
I just put it at a storage facility that I know is going to be I can say 100% some people want to be able to go and touch it.
00:31:00.960 --> 00:31:03.039
They want to have access to it they want to be able to go see it.
00:31:03.119 --> 00:31:32.000
They want it at the bank in their city right and I get that and if you want to rely on that just know you're gonna pioneer pioneer that that line of thinking now what we know you can't do and there are cases on this what was the case what was the name of the precious metals case um it was probably about four or five years ago there was someone who had an IRA LC structure and they were storing precious metals at their home.
00:31:33.200 --> 00:31:40.000
Well they got audited the IRS said you can't have this there's a there's a there's a storage rule for IRAs.
00:31:40.079 --> 00:31:59.759
You violated it they said no no no this was in our IRA LC and the IRS was like we don't care that's all the same the storage rule still applies so um what was that case's name anyways someone will throw it in the chat I know someone on my team knows it was McNulty McNulty there we go.
00:31:59.839 --> 00:32:20.799
Okay so apply McNulti yeah so so we we know you can't do home storage if you have an IRLOC and you want to do the safety deposit box at your bank you could make the argument that it is still in the custody of a bank and this is a bank safety deposit box I think that could win I'm just not certain I don't give people green light it's kind of like a yellow light.
00:32:21.200 --> 00:32:27.039
So um so but I think that would be a strategy if you were going to just be a buy and hold person.
00:32:27.200 --> 00:32:36.720
If you want to do some of the trading stuff David was talking about a second ago that wouldn't work just for the logistics of the of the of the metals.
00:32:36.880 --> 00:32:40.480
Yeah so I don't know if you had any comment on that part David or anything you want to add there.
00:32:41.119 --> 00:32:50.079
Yeah certainly the the logistics uh that becomes hard if if you're using the LLC and it's and it's not at a depository.
00:32:50.640 --> 00:33:11.359
I will say that your storage rates are going to be improved using a regular IRA versus um you know having an account a private account whether it's a a trust account or a personal account or an LLC account at Delaware depository their fee structure is going to be higher.
00:33:11.599 --> 00:33:23.759
So you'll pay more for the privilege of the LLC component if if you're opening up an account directly with them as opposed to doing it inside of a you know traditional Roth structure.
00:33:24.160 --> 00:33:44.160
Yeah and I think what you could do if you have the IRLC is just send the cash from the LLC bank account back to us in your IRA it directed because you still have an IRA with us and we can just invest the precious metals directly from the IRA and then it falls into the discounted pricing and the custodian relationship and it it'll it'll trade easier.
00:33:44.319 --> 00:33:50.720
Now if you're on that mindset though I'm just gonna do buy and hold Matt and I like to be able to go touch it.
00:33:50.799 --> 00:34:17.920
I'm cool being a trailblazer you can go the safety deposit box route too you want me to rapid fire if you yeah okay let's do it David um so the well this will tee up nicely for you but maybe you can talk a little bit about your firm I've gotten a number of questions about is there a brokerage firm do do the do uh dealers need special licensing how can I buy metals with my IRA?
00:34:18.079 --> 00:34:32.800
What kind of company can I work with and then so that's part one part two then would be what what are the most common gold silver coins or bullion um out there that are being held in a self-directed IRA?
00:34:33.440 --> 00:34:33.760
Okay.
00:34:34.559 --> 00:35:55.840
Yeah the advisors uh we have um many of them with 20 30 40 years experience um we don't have a lot of turnover folks a lot working with us it's uh it's a small family business um roughly 60 employees and you know there are no licensing requirements in the industry this is different than the SEC um I I have a second business an asset management company we're very familiar with SEC requirements and what goes into compliance and there's a lot of things that are mirrored from one company to the other um but this is where your trust and confidence in who you're working with the integrity and their reputation is everything and so you know it's just it's something that as a family business we've we've guarded uh with our lives that that this is you know taking care of people uh is the only way to do business um unfortunately the industry being unregulated does not attract a great crowd and a lot of our a lot of our competitors uh notorious for 20 30 40 50 percent commissions and so you think you're putting in your 401k and it's a 201k day one because of the fee extraction and it's it's it's akin to highway robbery.
00:35:56.639 --> 00:36:00.480
So I would I would just say that's that's an important piece.
00:36:00.719 --> 00:36:17.199
And you know part of our vetting process and and and being um you know in in in in the house so to say with with your company Matt we appreciate the care and consideration you you took in making sure we're that group.
00:36:18.000 --> 00:37:11.679
So common gold and silver um you're looking typically at coins that are minted by uh national mints that could be the the Canadian maple leaf that could be the American Silver Eagle the Austrian Philharmonic um you know bars you're you you're you're wanting typical hallmarks which you know there's some European refineries there's some US refineries um but it's all very standard bullion product uh again where our competitors begin to play with the math a bit is by focusing in on fractional ounces you know like one and a half ounce silver coins and two and two quarter ounce silver coins where all of a sudden the math is skewed and you're trying to do a spot price calculation on the basis of the ounce and it's just confusing that's where they charge you whatever they want.
00:37:12.079 --> 00:37:23.920
We like the plain vanilla stuff um one ounce very close to the bullion price and uh the exception to that is on occasion um the American mint the U.S.
00:37:24.079 --> 00:39:22.000
Mint makes uh proof gold coins and when we can buy those near the spot price we love to do it because based on supply and demand um last time we sold those ounces for clients um we were getting a$900 premium over the spot price and so you buy them close to spot sell them at three five nine hundred dollar premiums and that's another way to compound ounces and we just be moving from proofs back to gold eagles or 10 ounce bars or kilo gold bars whatever the case may be cool um thanks david so let me uh I'll just rapid fire a few that are that are kind of easy one hitters um a lot of people this I don't know why this always comes up and I swear I'm at Costco every week with my family and I and I was just waiting for somebody to pop that in there can I buy gold and silver at Costco thanks Nestor I'm not picking on you but yes you can with an IRA no but but you can't personally can absolutely with an IRA no but I love that I mean they still have or do they still have it at Costco did it okay they still do the one by our house no they don't buy it back which is yes yeah that's non-refundable non-returnable so you got a you you want a relationship ultimately and and know where you're taking the chances yeah so um anyways I I always get a kick out of that uh okay so the next one um what are some of the fees associated with doing uh with purchasing metals in an IRA I'll just hit on that real quick well first you're gonna need a custodian so whether you're using a checkbook IRLC or a solo 401k you know uh we'll just stick to the IRA you'll need a IRA custodian that'd be a directed IRA and we have a you know an annual administrative and record keeping fee uh that we charge and then this the the next fee is you're paying some fees that are built into the investment itself.
00:39:22.320 --> 00:39:25.679
So just as David just outlined whatever that may be.
00:39:25.920 --> 00:39:28.159
And then the third part is their storage fee.
00:39:28.320 --> 00:39:54.239
There's um and maybe we can hit on that that kind of the difference between segregated non-segregated because we did have some questions pop in uh for that but you know there it's typically you know uh a flat fee uh that we've negotiated with some of you know the depositories in this case we were talking about Delaware depository where we have a flat fee whether it's segregated or non-segregated and you know it's less than a couple hundred bucks a year.
00:39:54.400 --> 00:40:28.159
So those are pretty much at a high level the fees uh that we're working with yeah I would just say one more thing on the segregated versus non-segregated um you're not really getting much for that segregation I mean it's it's uh you know here's my pile of ounces that's segregated here's the pile of everyone's ounces and we've accounted for everyone's ounces and all the ounces are there um that's non-seg and just knowing that the ounces are there and accounted for is is sufficient.
00:40:28.320 --> 00:40:49.360
Um you know there are rare occasions where somebody just says I want the added assurance and you just pay more for having your own pile because basically you can't be commingled with anyone else which basically means you're paying for that space and all the space above it because it takes up storage space and and ultimately I mean you're talking about a depository as a real estate play.
00:40:49.519 --> 00:40:54.480
Like they're maximizing square footage and and the fees associated with square feet.
00:40:54.559 --> 00:40:57.760
And if you're taking up more space they're gonna charge you for it.
00:40:58.400 --> 00:41:05.360
And it's just the the accounting processes are so clean um I'm I don't see I don't see the need for it personally.
00:41:06.239 --> 00:41:19.440
Yeah yeah and you can keep your costs down by just doing doing non-seg we see as the most popular but if you still you know you want to be special and feel like you know got my own little piece of real estate on the shelf you can pay for it.
00:41:19.920 --> 00:41:24.800
And we can drop the fee schedules in there a little bit right we have like those the teams in there.
00:41:24.880 --> 00:41:47.440
So do you want me to address uh on the investment side yeah yeah so I mean the scale of a transaction matters you know a 10, 20, 30,$50,000 transaction these would be smaller transactions we would put in a 6% category and as it scales towards you know six figures and above it starts to the migrate towards 3%.
00:41:48.079 --> 00:41:55.440
So there's there is a a a value add depending on the scale of of the transaction um pencils get sharper.
00:41:56.159 --> 00:42:33.679
Yeah and I think um if any of you are out there shopping precious metals I mean we see people charging 30% it's insane and you know as a self-directed custodian we can't really give advice or say oh don't work with that company you know versus that I mean so and and to some of David's comments earlier about some of these companies that um you know don't have a great reputation and it is not regulated uh we've just we just ran into some problem people in the industry I'll just say that and so and you're and you will see 20 30% or higher fees that they're charging as a commission.
00:42:33.840 --> 00:42:40.400
And when you're paying that much it's I mean it takes a long time to make that money back and gains on that asset.
00:42:40.559 --> 00:42:50.400
And so um so pay attention to that make sure you're understanding what you're actually buying and how much of that is being marked up in terms of a fee.
00:42:51.119 --> 00:43:02.159
And so and and I'd say on the other side of it work with a company that has been around that has a reputation that's why we have David and McClabaney on here is because we've seen them do good business.
00:43:02.320 --> 00:43:05.760
It's not you know we can't endorse anybody or anything like that.
00:43:06.000 --> 00:43:13.760
But you can ask around and get a feel for their reputation and I think their 50 plus years in business definitely says a lot.
00:43:14.079 --> 00:43:23.280
Matt, one more thing on that you mean basically what you're getting in that cost structure is um you know an advisor who's on retainer.
00:43:23.760 --> 00:43:57.360
You want market updates um they're Johnny on the spot to to provide you know market dynamics um charts and graphs market commentary and of course advice along the way and when you start compounding ounces you start to realize it's really worth paying for the advice and and not just the transaction fee but the ongoing advice of how to position and you know our whole CRM system is built around these ratio trades to where it's automatically tracked and we know when there is an accretive trade.
00:43:57.519 --> 00:44:06.079
Nothing happens without the permission of the client But the advisor is calling you to say, you know, here's where your entry point was in the gold-silver ratio, here's where it is now.
00:44:06.239 --> 00:44:12.159
This is the accumulation of ounces on this particular transaction, net of fees, and then it's go time.
00:44:12.320 --> 00:44:14.239
Give a thumbs up or a thumbs down.
00:44:14.480 --> 00:44:20.639
And so there is an added value piece there with our firm because we take an advisory role.
00:44:20.880 --> 00:44:21.519
Yeah.
00:44:22.239 --> 00:44:25.599
Um, I do have one more that I want to hit on.
00:44:25.920 --> 00:44:38.000
Um in regards to, let's say I don't like who I've worked with, who I bought metals from, and I don't like the custodian, I don't like the depository.
00:44:38.079 --> 00:44:40.800
It's just been one hot mess and disaster.
00:44:40.960 --> 00:44:45.920
Like, what are my options to let's say I want to trade some in the future?
00:44:46.079 --> 00:44:47.360
Can I move them in kind?
00:44:47.599 --> 00:44:49.199
Like, what does that even look like?
00:44:49.440 --> 00:44:56.000
We do get those questions asked you know internally when people book a call with us, and I just drop that in the chat again.
00:44:56.159 --> 00:45:03.039
But what does that look like, David, when you've worked with other people who have you know already purchased metals with an IRA?
00:45:03.199 --> 00:45:12.320
Now they even either want to implement some of these compounding strategies or they you know want to move custodians or they need to move to another depository.
00:45:12.559 --> 00:45:18.719
Maybe you and Matt can kind of talk through that and give some uh colors to what that might look like for clients.
00:45:19.679 --> 00:45:20.079
Yeah.
00:45:20.480 --> 00:45:23.360
Well, I mean, uh it it does happen with some frequency.
00:45:23.599 --> 00:45:27.360
And so we we inherit a lot of accounts from our competitors.
00:45:27.679 --> 00:45:33.440
And I would just say that you know, we're happy to give you the advice, the counsel, and the education.
00:45:33.679 --> 00:45:36.320
There may not be an accretive trade day one.
00:45:36.480 --> 00:45:43.440
So, you know, in putting cost basis and being able to track that for you, um, you know, the process begins.
00:45:43.679 --> 00:45:50.079
And you know, we take a long-term view to our success as a business and would love to work with you for decades to come.
00:45:50.320 --> 00:45:53.760
So if there's no transaction to happen day one, we're fine with that.
00:45:54.000 --> 00:45:58.400
We're we'll steward that relationship um with just as much care.
00:45:58.800 --> 00:46:02.960
And um that certainly is the ethic that you'd find with any of our advisors.
00:46:03.760 --> 00:46:10.239
Yeah, and I'll see you can, you know, if you've bought precious metals with an IRA, had a bad experience somewhere.
00:46:10.400 --> 00:46:21.519
I mean, we are opening accounts every day that are coming from some other competitor, self-directed IRA provider that you know talked a big game and wasn't very great at the end of the day.
00:46:21.599 --> 00:46:24.159
And so it's easy to move the account to us.
00:46:24.320 --> 00:46:25.280
You just transfer it.
00:46:25.360 --> 00:46:32.639
Let's say you got a traditional IRA at Company X and they're not and you're not happy with them, you want to get in the directed IRA party because this is where you want to be.
00:46:32.800 --> 00:46:34.239
You know, you can move over here.
00:46:34.320 --> 00:46:36.079
It's an you open an account with us.
00:46:36.159 --> 00:46:38.480
We do what's called an in-kind transfer.
00:46:38.800 --> 00:46:42.960
If those metals are sitting at a depository, they may be at Delaware depository.
00:46:43.039 --> 00:46:45.679
They kind of are one of the big players in the space.
00:46:45.840 --> 00:46:47.519
If they're not, we can work with them.
00:46:47.599 --> 00:46:51.199
We've worked with some other depositories too, or we can move it to Delaware depository.
00:46:51.360 --> 00:46:56.960
So our team can help at direct it in terms of the account and getting the asset over here.
00:46:57.039 --> 00:47:02.079
So and so you can close that account with that, you know, precious metals IRA provider you didn't like.
00:47:02.320 --> 00:47:10.239
When it comes to, all right, Matt, well, I want to sell those metals or I want to sell those metals or swap those metals for other metals or or or anything like that.
00:47:10.400 --> 00:47:13.039
That's when you would contact, say, Mack Ulvaney.
00:47:13.679 --> 00:47:16.639
Um, because we're we're not helping you buy and sell the assets.
00:47:16.719 --> 00:47:19.119
So you would need a dealer for that.
00:47:19.280 --> 00:47:22.079
And that's where you would contact David or his team.
00:47:23.360 --> 00:47:39.599
David, what kind of what kind of like assurances or you know um uh proof is there that I am in indeed at the time of purchase, it is in fact real gold, real silver.
00:47:39.760 --> 00:47:43.280
Like what how how do how does that look and work for the the client?
00:47:43.440 --> 00:47:47.760
Again, these are retirement dollars and assets being invested.
00:47:47.920 --> 00:47:53.199
So how can they ensure that it is what it you say it is that they're purchasing?
00:47:54.000 --> 00:48:00.000
Yeah, I mean the the best the best way to approach that, we're dealing with ComX Namex depository.
00:48:00.079 --> 00:48:15.039
Uh Delaware depository is is moving metals on behalf of large Wall Street firms, institutions, and you know, their accounting for the metals and the settlement into the trades happens in a reasonably short period of time.
00:48:15.280 --> 00:48:22.480
So you transact the metals and you're gonna get an account statement with the metals that have settled in your account.
00:48:22.800 --> 00:48:31.440
If you wanted to, you could have those metals sold out of an IRA, I'm not recommending this, but you could have them delivered to your door.
00:48:31.599 --> 00:48:37.119
They are physically present, and that that allocation process, they're live.
00:48:37.280 --> 00:48:38.159
They're there.
00:48:38.320 --> 00:48:41.119
No one can put a claim on them, put a lien on them.
00:48:41.199 --> 00:48:46.079
Uh they are exclusively yours and you know, sort of at your beck and call.
00:48:46.159 --> 00:48:48.239
If you wanted to take delivery, you could.
00:48:48.559 --> 00:48:54.159
Um but it's typically you know a 10-day period for the metals to settle into your account.
00:48:54.639 --> 00:48:56.159
Yeah, and we've had people do that.
00:48:56.320 --> 00:49:01.840
They've taken distribution of their precious metals in kind, you know, usually after 59 and a half.
00:49:01.920 --> 00:49:05.519
And if this is your Roth account, it's gonna there's gonna be no tax bill.
00:49:05.599 --> 00:49:08.639
The metals show up on your door, and now you personally have them.
00:49:08.800 --> 00:49:12.800
Now, any appreciation in those metals now, you're responsible for any taxable gain.
00:49:12.880 --> 00:49:14.400
So just keep that in mind.
00:49:14.639 --> 00:49:21.760
Um, but the uh and if it was a traditional, you'd get a 1099 that would be taxable if you took that out.
00:49:21.920 --> 00:49:31.119
So, but we've definitely and we've had those instances where the metals get shipped out and the person gets you know, you get a literally get the metals to your house, like literally.
00:49:31.280 --> 00:49:41.039
So um, and uh, and I even you know, I know some like Delaware Depository, for example, and and some of the others are like you can go there if you want.
00:49:41.119 --> 00:49:44.719
Like if you want to go visit and go inspect on it, you can do that.
00:49:44.800 --> 00:49:53.360
They they are audited, regulated, they have third-party auditors coming in to check their books and and and tie out um the metals that they're holding to.
00:49:53.440 --> 00:49:57.920
So um, and that's why there's this kind of licensed, regulated part of the industry.
00:49:58.000 --> 00:50:07.679
As David said, the dealer side is not licensed and regulated, but that storage and where those metals actually arrive um is quite regulated if you're doing it properly.
00:50:07.920 --> 00:50:13.760
So uh I guess let me just hit on a few more things and then uh oh okay.
00:50:13.920 --> 00:50:18.079
Well, Christian, you just like being buzzer, and then let me get that in there.
00:50:18.239 --> 00:50:19.519
Uh, I do like this.
00:50:19.679 --> 00:50:24.400
What about doing Roth conversions with uh precious metals?
00:50:24.800 --> 00:50:25.760
How would that work?
00:50:26.000 --> 00:50:26.960
How can I do that?
00:50:27.119 --> 00:50:28.239
What would that look like?
00:50:28.800 --> 00:50:29.679
Yeah, absolutely.
00:50:29.840 --> 00:50:35.440
I mean, you can so if you have traditional dollars, you can always convert traditional dollars to Roth.
00:50:35.840 --> 00:50:44.000
If the dollars are in an asset, we are gonna take a fair market value of the asset at the time of conversion.
00:50:44.159 --> 00:50:54.400
So for precious metals, we're typically gonna look at the spot price of precious metals at the time you're converting to get a value for what is the dollar amount which is taxable.
00:50:54.960 --> 00:50:58.159
You know, metals could have gone up or down since you held them.
00:50:58.639 --> 00:51:08.159
Um and absolutely, but you could convert into Roth from traditional dollars, and now your money's growing and it's gonna come out tax-free.
00:51:08.800 --> 00:51:10.880
So um I I don't know.
00:51:10.960 --> 00:51:17.440
Some people kind of like, well, should I convert in the cash before I buy if I want to be Roth versus versus buying?
00:51:17.679 --> 00:51:19.360
It can all depend.
00:51:19.519 --> 00:51:24.000
Yeah, it it can all depend on really what the price you're buying the metals at and spot.
00:51:24.159 --> 00:51:34.639
But um yeah, so I could I could kind of go either way on that, but you could absolutely you could convert from traditional to Roth once you're owning the metals.
00:51:34.719 --> 00:51:45.679
So if you're sitting in that scenario with traditional dollars, one other thing to think about that is just from a the tax side of it, is what tax bracket does that push me into?
00:51:46.000 --> 00:51:54.239
You know, one of the biggest jumps we see clients, and this is around 200 grand of annual income, is this is kind of tax lawyer mat for a second.
00:51:54.400 --> 00:51:55.840
But we love tax lawyer.
00:51:56.320 --> 00:51:56.719
Yeah, yeah.
00:51:56.800 --> 00:51:59.760
He's sometimes he's sometimes a buzz kill, sometimes he's cool.
00:52:00.000 --> 00:52:02.880
Yeah, sometimes at the party, it's like, oh dude, go away.
00:52:03.119 --> 00:52:03.760
Who invited this guy?
00:52:03.920 --> 00:52:06.320
You know, every once in a while he can save you some money.
00:52:06.639 --> 00:52:11.519
So um, but let's say you're someone in a 22% bracket.
00:52:11.679 --> 00:52:14.400
Well, the the uh you know, the next brackets.
00:52:14.480 --> 00:52:17.039
I mean, let me just pull them up here for a second.
00:52:17.679 --> 00:52:21.199
You jump up in brackets pretty quickly.
00:52:21.840 --> 00:52:25.760
Um I just want to get them right down here exactly.
00:52:27.760 --> 00:52:30.159
Okay, so you go from 22.
00:52:31.039 --> 00:52:33.599
Okay, I want to do the married filing joint.
00:52:34.320 --> 00:52:37.760
Okay, 22 to 24, and then 32.
00:52:37.840 --> 00:52:39.679
So this is the big jump, it's 24.
00:52:40.000 --> 00:52:45.760
So at your the the max bracket up to 206,000 is 24 percent.
00:52:46.159 --> 00:52:49.840
But anything over 206, you're at 32 percent.
00:52:50.079 --> 00:52:56.320
You start jumping, it's not just like 22 to 24, it goes 24 to 32.
00:52:56.480 --> 00:53:03.440
There's an 8% bracket jump, and it's right in there from 200 grand to 400 grand approximately.
00:53:03.679 --> 00:53:06.400
Um, and then you start going to 35%, 37.
00:53:07.199 --> 00:53:15.119
So if you're in that bracket where you're gonna jump, um, you may want to chunk the conversion over multiple years.
00:53:15.280 --> 00:53:20.400
So let's say you've got 200 grand and precious metals in a traditional account.
00:53:20.880 --> 00:53:28.559
It doesn't matter the asset here for the conversation, but and you're gonna convert, and now you're gonna be jumping to a 32% bracket.
00:53:28.719 --> 00:53:40.320
Um, if you convert it all 200K, well, maybe we just do 100K this year, and in January of 2027, we'll convert the other 100K, assuming your income is gonna be the same this year and next.
00:53:40.480 --> 00:53:51.760
That way it breaks the conversion between the two years and prevents you from hitting another bracket, which could cost you another 8% on, say, another 100 grand, which would be$8,000 that you would have had to pay.
00:53:51.920 --> 00:53:57.119
Now, if the precious metals go up over that time period, you're gonna have to pay more anyways, too.
00:53:57.679 --> 00:54:03.840
So it's hard to say, but that's just the consideration to look at is am I gonna jump into another bracket?
00:54:04.000 --> 00:54:09.519
If so, maybe you chunk it over a couple years, or sometimes we have clients do it over three years or more.
00:54:09.679 --> 00:54:14.719
Yeah, um, it all depends on the price of the asset where that's going, which is is a little unknown, of course.
00:54:14.880 --> 00:54:18.480
So meet with your tax strategist on that too.
00:54:18.719 --> 00:54:19.599
Um, all right.
00:54:19.679 --> 00:54:23.679
So let me wrap up here and I'll I'll help bring it home for us, Matt and David.
00:54:23.840 --> 00:54:26.559
So, Derek, thanks for your input there.
00:54:26.960 --> 00:54:40.239
Uh, he had a comment on you know, if are many people aware of using self-directed IRAs, uh, investing in precious metals out of the entire IRA 401k market in its entirety.
00:54:40.480 --> 00:54:41.599
I'd say yes.
00:54:41.760 --> 00:54:49.360
It's the by far the number one investment that self-directed IRAs are allocated uh to.
00:54:49.599 --> 00:54:54.639
Right behind it's like, you know, private funds, businesses, real estate of some kind.
00:54:54.719 --> 00:54:57.039
Uh, but yes, it precious metals does leave.
00:54:57.119 --> 00:54:59.039
So thanks for that uh comment.
00:54:59.199 --> 00:55:01.760
Um Wally put some over in the chat.
00:55:01.840 --> 00:55:05.280
He didn't listen to instructions in the QA, but we won't fault you for that.
00:55:05.440 --> 00:55:06.639
Just a little public shame.
00:55:06.719 --> 00:55:10.079
But you did make a good point, and this is how we'll bring it home.
00:55:10.239 --> 00:55:17.199
Um, please join us in person at the Alt Asset Summit if you can make those dates work, October 22, 23.
00:55:17.360 --> 00:55:20.320
David will be doing a special presentation there.
00:55:20.559 --> 00:55:21.760
It is in person.
00:55:22.320 --> 00:55:25.199
Um, his team will be there with them as well.
00:55:25.360 --> 00:55:42.719
And so Wally's question was Is it possible where I can you know work with an advisor, advisor, someone on McIlbany's team, where I can just let's say, you know, put a hundred thousand plus in there and you know, uh they're kind of trading on my behalf, if you will.
00:55:42.880 --> 00:55:44.000
What does that look like?
00:55:44.159 --> 00:55:45.119
Is that possible?
00:55:45.280 --> 00:55:50.719
Can I can I do that and work with your firm in that way?
00:55:51.840 --> 00:55:56.000
Yeah, the the easy answer today is no, we don't manage with discretion.
00:55:56.239 --> 00:56:00.800
So we we do engage a client when there's a change to be made.
00:56:00.880 --> 00:56:07.440
Um there's full visibility, full disclosure, full transparency on any transaction that happens.
00:56:07.599 --> 00:56:20.480
Um we've considered creating a metals index which um blends the precious metals to an appropriate percentage given prevailing market conditions and advantages to be to be captured there.
00:56:20.639 --> 00:56:32.159
Um but that's that's something that would be securitized and um has some complexity to it that we haven't we haven't hit the green light and probably are unlikely to.
00:56:32.400 --> 00:56:40.079
We really like the model, uh particularly because it does include engagement with clients and relationship is something that's very important to us.
00:56:40.239 --> 00:56:46.719
We love to have clients come alongside and and really understand what they're doing, why they're doing it.
00:56:46.880 --> 00:56:51.039
And so the education piece is not only on the front end, but all along.
00:56:51.199 --> 00:56:55.440
And it it's nice to sort of make a decision, never think about it again.
00:56:55.679 --> 00:56:58.559
Um but you know, markets change rapidly.
00:56:58.800 --> 00:57:03.039
And, you know, some advantages that are here today are gone tomorrow.
00:57:03.280 --> 00:57:09.280
And just to be able to be clear-eyed and engaged, we love the engagement.
00:57:09.440 --> 00:57:20.239
Um I do a podcast, have every week for the last 19 years, and that's one of the ways that we keep in touch with folks, just kind of on a on a macro basis, macroeconomics, markets.
00:57:20.400 --> 00:57:27.039
We'll cover everything from real estate to energy to interest rates to foreign policy.
00:57:27.199 --> 00:57:35.119
It if if it affects the financial markets and and has some relation to gold, um, it's it's going to be a topic uh of conversation.
00:57:35.280 --> 00:57:47.280
We also do an exclusive podcast that is just on the metals market, uh, which is also a great value add for just you know learning and growing in your awareness and understanding of the metals.
00:57:48.079 --> 00:57:52.159
All right, did we drop there there where's the best place to send people, David?
00:57:52.559 --> 00:57:57.519
Okay, we dropped it in the chat and everything, but let's just say it here for purposes of the podcast, anyone listening.
00:57:57.760 --> 00:57:59.840
Uh what's the where's where should people go to learn more?
00:58:00.000 --> 00:58:00.800
Connect with you guys, David.
00:58:01.119 --> 00:58:02.960
Yeah, mackelvany.com.
00:58:03.280 --> 00:58:07.519
It's um mcalv a n y dot com.
00:58:07.920 --> 00:58:15.440
And from there you can find everything from the podcasts to um market reports that we put up on a weekly basis.
00:58:15.519 --> 00:58:18.320
Uh there's a lot of a lot of great resources there.
00:58:18.960 --> 00:58:19.360
All right.
00:58:19.519 --> 00:58:20.400
Well, thank you, David.
00:58:20.480 --> 00:58:26.960
Appreciate you being on, sharing your insights on precious metals and also talking about how they work with IRAs and your guys' strategies.
00:58:27.119 --> 00:58:29.679
Thank you, Aaron, for helping moderate the questions.
00:58:29.840 --> 00:58:32.960
Appreciate all of you that joined us today and your great questions.
00:58:33.199 --> 00:58:34.960
Remember, we do a webinar.
00:58:35.119 --> 00:58:38.000
We're probably doing like three or four of these a month.
00:58:38.079 --> 00:58:38.800
How many are we doing?
00:58:39.039 --> 00:58:40.239
I don't I don't do them all.
00:58:40.320 --> 00:58:43.280
So I for I only do one a month if it's a special guest like David.
00:58:43.440 --> 00:58:45.360
But okay, okay, all right.
00:58:45.599 --> 00:58:48.159
Go to directed IRA.com slash webinars.
00:58:48.239 --> 00:58:50.719
You can see the upcoming webinars, register for them.
00:58:50.880 --> 00:58:56.079
If you've missed any portion of this, this will be recorded and up also at directedra.com slash webinars.
00:58:56.239 --> 00:58:57.599
So you can catch the whole recording.
00:58:57.679 --> 00:58:58.480
Thank you again, David.
00:58:58.559 --> 00:58:59.760
Thank you everyone for being on.
00:58:59.920 --> 00:59:00.719
We'll see you next time.
00:59:00.880 --> 00:59:03.360
Until then, stay calm, self direct on.