Lear Capital Review
Monday, May 23rd 2022
When you want to set up an IRA, especially a gold IRA account, you want to make sure that you are working with a company that you can trust. There are a lot of companies out there to pick from. Today we are going to tell you about one of your many choices, Lear Capital. With their claim that they help everyone from experienced to novice investors to set up a diverse retirement plan, they might just be the company that you want to turn to. By the end of this review you will have an idea of whether that is true or not.
About Lear Capital
Lear Capital has been in business since 1997 has helped myriads of clients diversifying portfolios into both gold and silver. Unlike some other precious metal IRA companies, Lear Capital not only helps you to set up an IRA backed by metals but they sell precious metals such as palladium, platinum, gold and silver. This allows you to get everything you need to set up your account all in one place.
The company claims that their staff are experts at helping everyone through the process of setting up an account. From the most advanced investors to people who have never even heard the term IRA before.
► Three Different Types of IRAs
You will find that there are three different types of IRAs to invest in for your retirement. Traditional IRAs, Roth IRAs, and Rollover IRAs. Each of these three different types of IRA have a different purpose.
- Traditional IRAs: You deposit retirement savings into these IRAs before tax has been taken out and the tax is deferred until you start taking withdrawals.
- Roth IRAs: In these IRAs you invest money after it has been taxed so that there is no tax when you withdraw the money.
- Rollover IRAs: This kind of IRA account is the result of taking another type of retirement account and moving it into an IRA.
Most people fund their IRAs with stocks that they buy with paper money (aka the money from their paychecks). Despite that being the most common funding method, you are not limited to having stocks in an IRA. They can also be funded by precious metals such as silver, gold, platinum, and palladium. Precious metals are a great way to diversify your retirement as they perform really well when the rest of the economy is not.
The process of setting up these accounts is not the same as a traditional IRA. Lear’s job is to help guide you through the process of setting up a precious metal IRA from the beginning to the end.
Lear Capital helps you decide what metal is right, guides you through the set up process, the purchase, and arranges the transfer of your precious metals to a custodian.
How to set up a Gold IRA account with Lear Capital
Step 1: Lear Capital form
Step 2: Decide on the metal and amount
Step 3: Open your account via Lear Capital
Precious metal IRAs of all kinds require your metals to be stored in an approved facility. This protects your investment through security and insurance.
► Investment Toolkit at Lear Capital
Since Lear Capital opened its doors, the company has been working to make informed investors. To do this they have built up a toolkit for you to learn about retirement savings and precious metal IRAs. The best tool that you have at hand is the personal account representative that works with you to establish your account and keep you informed.
Another great tool they have is market insights, data, and breaking news, all through the Lear Capital website. You won’t have to go searching for all of the information that you need to set up an account. Along with that is coin search tool to help you find what you are looking for. Lastly, you can get price notifications through Lear Capital to know when it is the right time for buying or selling.
► Lear Capital’s Website
Lear Capital’s website is their business face. With COVID and the popularity of connected devices, few people go to a store front right away, if at all anymore. That means the website is key. Lear’s website is exactly what you would expect if you were looking to go to an investing site. Their site is easy to navigate, read through, and contains myriads of helpful information.
There is even a Smart Tools Suite that gives you access to many of the tools that Lear Capital has set up to help their investors.
The Main Features:
- Silver and Gold Coins Purchase: You can purchase both silver and gold coins directly from the Lear Capital store on their website, at any time of the day and night. Whether you are looking to buying gold and silver by itself or make an investment, you can use the Lear Capital site.
- Gold and Precious Metals IRA Information: Under the tab for gold and precious metal IRAs you can find all of the information you need to know about creating one of these investment accounts. That includes details on the requirements of IRAs and the regulations around them. Being able to stay up to date on the market is essential. With this tab you can do exactly that. Lear Capital posts articles on the state of the gold and silver world around the clock. They also have a listing of real-time values for gold and silver, known as the spot prices.
Other Helpful Website Resources:
- The Encyclopedia: You will find detailed information on every aspect of the investing world in the encyclopedia on Lear Capital’s site. From definitions to examples, what you need can be found in there.
- Learning Centre: In the learning centre you will find more information on investing in the form of an FAQ. There are also links to some of the many helpful articles that Lear Capital has written on investing.
- Video Education Series: You will also find a video series on the Lear Capital site to help you learn. This can be great for those who learn better by watching and listening. You can also find some topics and information not available elsewhere.
► Lear Capital Advertising
If you still watch television with commercials you may have noticed Lear Capital’s commercials. They push their precious metal IRAs to the public in over 200 commercials every 30 days. Some label their commercials as aggressive.
The commercials you might have seen represent precious metals as a sure thing. An investment that will get you great returns. Precious metals can do that, but they are just like all other investments. There are points in time where gold and other precious metals do not perform well.
► Costs with Lear Capital
Buying with Lear Capital can be done via check, money order, credit cards, cashier’s checks, and wire transfers. If you go to the store in person you can also pay with cash. The exact cost of precious metals varies greatly on the metal but also on the current value, checking the Lear Capital website will show you their current prices for each precious metal item they sell.
Shipping is charged on all orders below $10,000 and is completed within 17 business days, if not sooner. Orders over $10,000 ship for free. There is also a $160 yearly fee for precious metal storage and the insurance that comes with it. The rest of the fees depend on the account that you set up and what you have stored in it.
Lear Capital Ratings on Consumer Review Sites
Lear Capital can be found on a number of the customer review sites around the internet. On the Better Business Bureau they have 38 complaints that have been closed, showing that the company is willing to work with clients who may not be happy. All of the claims were reported as being responded to satisfactorily but the most commoncomplaint among those who submitted reports to the BBB was a lack of communication with the company.
The Final Say
In the end, Lear Capital has been around for over twenty years and during that time, they have become a big name in he precious metal world. The company has completed over 2 billion dollars in precious metal sales, making it one of the most popular gold IRA companies to choose in America. They also make it easy to manage and have great employees. As a company, they have earned their place in the industry for a reason.
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Frequently Asked Questions about Lear Capital (FAQ)