Custodian Fees for Rollover - What are you all paying these days?

Donald Nelson

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Custodian Fees for Rollover - What are you all paying these days?

donald_nelson💎Premium (500k-1m)

about 18 hours ago

Key Takeaways

•Okay, so I've been with the same gold custodian for over 20 years now, pretty much since I first started diversifying my retirement savings.
•Back then, it felt like everyone was charging pretty similar rates, especially for holding physical gold in a Class III vault.
•I've got a decent chunk, around $750k in my Gold IRA right now, mostly American Gold Eagles and some South African Krugerrands from back in the day.

The 3-step rollover process explained

Okay, so I've been with the same gold custodian for over 20 years now, pretty much since I first started diversifying my retirement savings. Back then, it felt like everyone was charging pretty similar rates, especially for holding physical gold in a Class III vault. I've got a decent chunk, around $750k in my Gold IRA right now, mostly American Gold Eagles and some South African Krugerrands from back in the day. Being a retiree from the auto industry here in Detroit, stability and predictable costs are key for me.

My current setup is fine, but frankly, I haven't really shopped around in ages. My annual storage and administrative fees feel a bit high now that I'm actually paying closer attention in my retirement. I'm paying about $250 a year just in storage fees, plus another $100 for administrative stuff. That’s $350 total, which when the market was booming always felt like peanuts, but now, every dollar counts a bit more. I know some of you newer investors probably got in a little later, and I'm wondering if the fee structures have really changed that much.

I’m looking into doing another rollover soon, maybe adding another $50k or so, and it just made me think it might be time to compare my custodian to others out there. Are any of you paying significantly less for a similar portfolio size? Or maybe getting better services for the same price point? I’m mostly concerned with the security and accessibility, but if I can shave off a few hundred bucks a year without compromising safety, I'm all ears. What are your experiences with different custodians regarding their annual fees for a rollover IRA?

3 comments

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Best Answer▲ 8 upvotes

joyce_cooper📊Growing (50-100k)

20 years is a solid run with one custodian, that's for sure. But honestly, even if you're not actively trading, fees can really eat into those long-term gains, especially with a "decent chunk" of gold. I know loyalty counts for something, but it might be worth shopping around a bit. You might be surprised at how much things have changed and what kind of deals are out there now for established accounts, even if you're not getting a new customer discount.

Comments (3)

michael_anderson🏆Advanced (250-500k)Real Investor•about 13 hours ago

Yeah, it's definitely worth checking those fees periodically. I had a similar experience a few years ago. Was with a custodian for like 15 years, just accepting the annual statement, and then I finally compared their fees to some newer players. Ended up switching and saved a significant amount annually just by doing a bit of research. Crazy how much it can add up over time if you're not paying attention.

richard_garcia👑Elite (1m-5m)Real Investor•about 13 hours ago

20 years is a seriously long time to be with one custodian! That's awesome you've been so consistent. Just curious, when you say "Class III vault," is that a specific type or more of a general security rating? Asking because I'm looking into options myself and trying to understand the different classifications.