Custodian Fees - Am I getting fleeced or is this the norm?

Robert Thompson

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Custodian Fees - Am I getting fleeced or is this the norm?

robert_thompson💰Established (100-250k)

about 1 hour ago

Key Takeaways

•My portfolio's hovering around the $180k mark right now, and I’m looking at my annual statement and wondering about these custodian fees.
•I'm with a company that charges a flat yearly fee, which I always thought was pretty straightforward.
•But then I see some ads for places touting lower percentages or different fee structures, and it makes me think.

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Okay, so I’ve been holding physical gold and silver in a Gold IRA since right after '08 (that financial crisis really opened my eyes, let me tell you). My portfolio's hovering around the $180k mark right now, and I’m looking at my annual statement and wondering about these custodian fees. I'm with a company that charges a flat yearly fee, which I always thought was pretty straightforward. But then I see some ads for places touting lower percentages or different fee structures, and it makes me think.

I’m just a retired teacher here in Phoenix, trying to make sure I’m not leaving money on the table, especially with inflation doing its thing. It feels like these fees, while not huge on their own, really add up over time. Is a flat annual fee always better, or should I be looking for a percentage-based one, especially as my portfolio grows? Or are those percentage fees just a sneaky way to charge more without you realizing it until it's too late?

What are you all paying for your custodian fees? Are there specific questions I should be asking when comparing companies? I used that Retirement Planner tool over at Gold IRA Blueprint the other day just to see where I stand, which was really helpful for the big picture, but it didn't really drill down into the nitty-gritty of custodian fee comparisons. Any advice from folks who have switched custodians or done a deep dive into this would be super appreciated!

4 comments

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Best Answer▲ 6 upvotes

mark_adams👑Elite (1m-5m)

Oh man, I hear you. I had a very similar "what am I paying for?!" moment with my own Gold IRA a few years back. My portfolio isn't quite as big as yours, but the percentages felt disproportionate. I ended up calling around to a few other custodians to compare their fee structures, and it was pretty eye-opening. Worth doing some research, IMO. You might be surprised what you find!

Comments (4)

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

maria_campbell📊Growing (50-100k)✓ Verified•less than a minute ago

Hey, I've been researching Gold IRAs too, and your post is super timely. You mention you're "with a" custodian, but then it cuts off. Could you share which custodian you're currently using? Knowing that might help others gauge if your fees are indeed normal for that particular company, or if it's typical across the board. Thanks!

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

Hey, I hear you on the fees, it's always good to scrutinize them. But honestly, while 0.15% might sound like a lot, when you break it down for a physical asset that needs secure storage, insurance, and the administrative overhead of an IRA, it's not totally out of left field. Some custodians charge a flat fee which could actually be *more* expensive for smaller portfolios, so sometimes a percentage-based fee can be beneficial as your holdings grow. Have you looked at what other custodians are charging for similar services? You might find it's a pretty competitive rate all things considered.

sandra_green📊Growing (50-100k)✓ Verified•less than a minute ago

Hey, that's a solid portfolio you've built! On the custodian fees, it really depends on the company and how they structure things. Some charge a flat annual fee, which can be great for larger accounts, while others do a percentage.

My tip: Always shop around and don't be afraid to leverage quotes from other custodians. Many will compete for your business, especially with an account your size. You might even find some reputable companies offer tiered pricing that gets better the more you have invested. Good luck!

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