Anyone else deal with a slow 401k admin on their Gold IRA rollover?
- •Finally got my 401k rollover into a Gold IRA done last month and man, what a pain that was.
- •The 'how' turned out to be a bit more of a headache than I anticipated, purely because of my old 401k administrator.
- •It took nearly six weeks from my initial request to finally get the funds transferred.
Finally got my 401k rollover into a Gold IRA done last month and man, what a pain that was. I've been watching the commodities market for decades, ever since my early days in steel down in Birmingham, so I felt pretty confident in the 'why' of getting into physical gold. The 'how' turned out to be a bit more of a headache than I anticipated, purely because of my old 401k administrator.
It took nearly six weeks from my initial request to finally get the funds transferred. Six weeks! I swear they were intentionally dragging their feet, probably hoping I'd just give up or something. I had about $380k sitting in that old 401k, and the thought of it just sitting there while I was trying to diversify into something more tangible was driving me nuts. My Gold IRA custodian was rock solid and really helped push things along, but there's only so much they can do when the other side is moving at a snail's pace. Has anyone else experienced this kind of delay with their old 401k providers?
I feel a lot better now that it's all squared away. Having that physical gold in a secure depository just feels right, especially with all the economic uncertainty floating around. I've been doing a lot of reading on market trends and historical gold performance – actually found a lot of good, in-depth articles on the Learning Center. It helped me confirm my decision was sound, even when I was getting frustrated with the rollover process itself.
Anyway, just wanted to vent a bit and see if anyone has tips for dealing with sluggish 401k admins for future reference. Or maybe I just got unlucky. What's been your experience?