401k to Gold IRA transfer - just finished, a few thoughts
- •Finally got around to rolling over a chunk of my old 401k into a gold IRA, and wow, it felt like it took forever!
- •I started the process back in late January, probably around the 25th or so, and the physical silver bars just hit my depository account last week.
- •So, we're talking a solid 6-7 weeks from start to finish.
Finally got around to rolling over a chunk of my old 401k into a gold IRA, and wow, it felt like it took forever! I started the process back in late January, probably around the 25th or so, and the physical silver bars just hit my depository account last week. So, we're talking a solid 6-7 weeks from start to finish. I was hoping it would be quicker, but honestly, dealing with my old 401k provider was a bit of a nightmare. Lots of waiting on hold, forms to fill out, then more forms because they "didn't receive the first set." Ugh.
I ended up transferring about $60,000 of my total 401k, opting for mostly silver bars this time around. I already have some gold coins from a previous direct purchase, and for this IRA, I really wanted to load up on silver. The thought of having that tangible asset, especially with all the market craziness we've seen, just really appeals to me. As a nurse here in Seattle, I've seen firsthand how quickly things can change, and having some of my retirement in something physical brings me a lot of peace of mind. It’s not my whole retirement fund, obviously, but it feels like a really important hedge.
The company I used was pretty good about keeping me updated, even if the actual transfer itself was slow. They sent me emails every few days saying "still waiting on your old plan administrator" which at least let me know they were on it. Once the funds finally cleared, the actual purchasing and shipping to the depository was pretty fast – maybe a week. Now that it’s all done and I can see those shiny silver bars in my account statement (virtually, of course), I feel a lot better about my retirement security. I’m thinking about rolling over another $30k later this year, but I might just keep it in my current 401k and then do a direct contribution to the IRA from my savings for that next batch. What are other people's experiences with rollover timelines? Was mine long, or is that pretty standard?