Custodian fees for Gold IRA - are these normal?
- •I'm looking to roll over an old 401k into a Gold IRA, and I've been doing my due diligence comparing custodian fees across a few different companies.
- •My 401k is sitting at around $180k right now, and I'm seeing custodian fees that seem...
- •Some companies are quoting me a flat annual fee that's anywhere from $150 to $250.
I'm looking to roll over an old 401k into a Gold IRA, and I've been doing my due diligence comparing custodian fees across a few different companies. I work as an executive assistant for an oil company here in Tulsa, and I've picked up a thing or two from hearing the execs discuss investments, so I like to think I'm fairly savvy, but this is a new area for me.
My 401k is sitting at around $180k right now, and I'm seeing custodian fees that seem... high? Some companies are quoting me a flat annual fee that's anywhere from $150 to $250. Others have a tiered structure based on the value of the assets, which starts to eat into things more when you get above, say, $100k. Then there are the precious metals storage fees – those seem to be separate, and sometimes they're a percentage, sometimes flat. It's a lot to keep track of, honestly, and I just want to make sure I'm not getting fleeced.
I'm trying to figure out what's considered "normal" in this space. Is a flat $200 annual custodian fee reasonable for a portfolio my size, or should I be pushing back for something lower? Are there any hidden fees I should specifically be asking about? I've heard some talk about transaction fees or even withdrawal fees, but I haven't seen those explicitly listed by the companies I'm looking at.
My main goal is to protect against inflation that I think is coming down the pike, so I'm committed to this, but I don't want to lose a chunk of my investment just to fees. Any insights from others who have done a Gold IRA rollover similar to mine?