Palladium in my Gold IRA - anyone else considering it?

Charles Lewis

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Palladium in my Gold IRA - anyone else considering it?

charles_lewis💎Premium (500k-1m)

about 5 hours ago

Key Takeaways

•As a lawyer here in Philly, I spend all day risk-assessing, and I'm finding myself doing the same with my own investments.
•Gold has been the backbone of my strategy for years, obviously.
•It’s held up well through various economic ups and downs, which is exactly why I initially set up the Gold IRA.

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I've been kicking around the idea of adding some palladium to my Gold IRA, and wanted to see if anyone else here has gone down this road or is thinking about it. My portfolio is sitting comfortably between $700k-$800k right now, and while I'm heavy on gold and some silver, I'm always looking for ways to diversify within the precious metals space, especially for wealth preservation as I get closer to retirement. As a lawyer here in Philly, I spend all day risk-assessing, and I'm finding myself doing the same with my own investments.

Gold has been the backbone of my strategy for years, obviously. It’s held up well through various economic ups and downs, which is exactly why I initially set up the Gold IRA. But palladium... it’s got a much smaller market, industrial demand is a huge factor, and the price swings seem a bit more volatile. On one hand, that volatility could mean higher potential upside if things go right. On the other hand, it makes me nervous about capital preservation, which is my primary goal.

Has anyone here seen significant gains (or losses) from including palladium in their IRA? What percentage of your precious metals allocation did you commit to it? I'm not looking to make it a dominant position, maybe 5-10% of my total metals holdings at most, just enough to get some exposure if it really takes off. I've been doing my own research on supply/demand dynamics, especially with the auto industry, but personal experiences always add another layer of insight.

Any thoughts, cautionary tales, or success stories would be greatly appreciated. I'm trying to weigh the potential benefits against the increased risk, and it’s a tough call when a significant chunk of my retirement is tied up in these decisions. Thanks in advance for any input.

3 comments

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Best Answer▲ 4 upvotes

steven_mitchell🏆Advanced (250-500k)

Interesting thought! While palladium has definitely seen some impressive gains, I'm personally a little hesitant about putting it in an IRA. The market for palladium is significantly smaller than gold or silver, and that can lead to some wild price swings. Plus, the industrial demand is such a huge driver; a downturn in the auto industry, for instance, and you could see a pretty sharp correction. For a retirement account, I tend to lean towards assets with broader and more stable demand. Just my two cents, of course!

Comments (3)

frank_rivera💎Premium (500k-1m)Real Investor•less than a minute ago

Hey, interesting thought! I actually did something similar a few years back, though on a much smaller scale since my IRA isn't quite in the $700k club (yet, haha). I was looking to diversify a bit beyond just gold and silver, and palladium seemed like a pretty good bet at the time. No regrets so far, it's been a decent performer for me.

susan_clark💰Established (100-250k)Real Investor•less than a minute ago

Interesting thought! When you say you're "kicking around the idea," have you looked into the specific types of palladium that are IRA-approved? Like, are there government-minted coins or specific bars you'd be targeting, or is it more of a general idea right now?