5 years in with my Gold IRA - a Denver small business owner's perspective (and some questions!)
- •So it's been about five years now since I rolled over a portion of my old 401k into a Gold IRA.
- •I started small, just under $70k from an old employer plan that was just sitting there not really doing much.
- •The company I went with made the rollover surprisingly smooth, thankfully.
So it's been about five years now since I rolled over a portion of my old 401k into a Gold IRA. As a small business owner here in Denver, I'm always looking for ways to diversify and protect my assets, and the idea of physical gold just really resonated with me. I started small, just under $70k from an old employer plan that was just sitting there not really doing much. Honestly, I was a bit nervous about the whole process – it felt like a pretty big step for someone who’d always just used traditional investment vehicles. The company I went with made the rollover surprisingly smooth, thankfully. Took about a month from start to finish, which felt reasonable.
My initial goal wasn’t really to get rich quick, but more about hedging against inflation and market volatility, especially with all the economic uncertainty we've seen since then. I remember seeing pretty strong gains in the first couple of years, which felt good. It dipped a bit here and there, and I definitely had some moments of "did I do the right thing?" But overall, looking at my statements now, I'm pretty pleased. My original $70k is now sitting closer to $95k, which isn't a bad return for something I consider more of a protective measure than an aggressive investment. It’s certainly outpaced some of my other more traditional positions that have felt pretty stagnant lately.
I’m thinking about adding another $20k from some profits I made last year with the business. My question for others here, especially those who've been in Gold IRAs longer than me: have you found it beneficial to continually add to it, or do you tend to set it and forget it after your initial investment? Also, for fellow small business owners, how do you balance your gold holdings with other business investments and traditional retirement plans? Any insights on whether now is still a good time to buy more, or if I should wait for a dip?