Anyone else deal with RMDs and Gold IRAs? Custodian recommendations needed!

Elizabeth Johnson

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🥈 Silver Coins

Anyone else deal with RMDs and Gold IRAs? Custodian recommendations needed!

elizabeth_johnson💰Established (100-250k)

about 4 hours ago

Key Takeaways

•I've got a decent chunk, probably around $180k-$190k worth of gold and silver coins sitting in my account.
•The issue I'm starting to seriously think about is RMDs.
•I’m not quite there yet, but it’s definitely on the horizon and I want to be prepared.

See what your 401(k) could look like in gold

Okay, so I'm an accountant here in Atlanta, and I've been pretty bullish on physical gold in my IRA for a while now, largely for the tax advantages and diversification. I've got a decent chunk, probably around $180k-$190k worth of gold and silver coins sitting in my account. The issue I'm starting to seriously think about is RMDs. I’m not quite there yet, but it’s definitely on the horizon and I want to be prepared.

My current custodian has been... fine. Nothing spectacular, but nothing terrible either. The fees are average, the communication is okay, but I'm just wondering if there's better out there, especially when it comes to navigating distributions. I've been using that RMD Calculator (the one on GoldIRA Blueprint, link above) a lot lately to project what my future distributions might look like, and it’s making me realize I need a custodian that's really on top of things. I'm just picturing a nightmare scenario of fighting with my custodian when it's time to actually take out my distributions, and I'd love to avoid that.

So, for those of you who have started taking RMDs from your Gold IRAs, or even if you just have strong opinions based on your current custodian's service, who do you recommend? And just as importantly, who should I avoid? I’m looking for clarity on fee structures, ease of communication, and most importantly, their process for handling distributions. I know some custodians make it much smoother than others, and as an accountant, I really value efficiency and transparency.

Specifically, I’m interested in custodians who are good with silver coins, as a portion of my holdings are in Eagles and Maples. Any bad experiences with red tape or unexpected charges during the distribution process? I’m willing to pay a little more in fees for a custodian that’s truly excellent in this area. Thanks in advance for any insights!

4 comments

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Best Answer▲ 10 upvotes

timothy_reed💎Premium (500k-1m)

Hey, interesting post! When you say "largely for the tax advantages," are you referring specifically to anything beyond the usual tax-deferred growth of an IRA? Just curious if there's an angle I'm missing there with the physical gold part.

Comments (4)

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

Hey, absolutely feel you on this one! I'm in a similar boat, though not an accountant myself, I've been eyeing my RMDs that'll be kicking in a few years and wondering about the best way to handle the physical gold. It's great for the long haul, but logistics for distributions are definitely a concern.

I don't have a solid custodian rec yet either, but I've been doing some preliminary research and it seems like a lot of folks end up selling a portion to meet the RMD, rather than taking physical distribution. Interested to see what others recommend!

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

james_wilson👑Elite (1m-5m)Real Investor✓ Verified•less than a minute ago

Hey, I hear you on the RMDs and trying to strategize. Just a thought though – with only $180k in there, selling off some physical gold each year for RMDs might actually be a bigger headache than it's worth. You're talking about shipping, potential buy-back spreads, and extra paperwork every single year. Maybe it's not the worst idea to just take the hit on a small portion of your other investments if you have them, or look into liquidating a larger chunk of the gold *once* to cover a few years' worth of RMDs, rather than piecemeal. Just a different perspective to consider.

paul_hill🏆Advanced (250-500k)Real Investor✓ Verified•less than a minute ago

Hey, that's a good chunk of change in gold! When you start hitting those RMDs, things can get a little tricky with physical assets. One thing to keep in mind is how the custodian handles the valuation for distribution. Some might charge a fee for an updated appraisal each year, which can eat into your distribution.

You might want to check out this article on RMDs from precious metals IRAs; it breaks down some of the things to look out for with different custodians. Good luck!

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