Finally rolled my old 401k into a Gold IRA! Thoughts?

Karen Robinson

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Finally rolled my old 401k into a Gold IRA! Thoughts?

karen_robinson💼Starter (0-50k)

about 8 hours ago

Key Takeaways

•It wasn't a massive amount, just under $20k, but it felt like a huge step for me given I’m just starting to seriously diversify my retirement.
•The stock market volatility this past year has been making me super antsy, and honestly, seeing my savings fluctuate so much was stressing me out.
•The process itself was...interesting.

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Okay, so after months of agonizing and researching, I finally pulled the trigger and rolled over my old 401k from my previous teaching gig into a Gold IRA. It wasn't a massive amount, just under $20k, but it felt like a huge step for me given I’m just starting to seriously diversify my retirement. The stock market volatility this past year has been making me super antsy, and honestly, seeing my savings fluctuate so much was stressing me out.

The process itself was...interesting. I went with Augusta Precious Metals after reading a bunch of reviews, and they were pretty helpful walking me through the paperwork. It felt like a lot of hoops to jump through, especially with my old 401k provider. They kept trying to convince me to just leave it with them or roll it into their "preferred" options. Had to be pretty firm, which isn't always easy for me!

Now that it's done, I've got a mix of American Gold Eagles and Canadian Gold Maple Leafs in the account. Pretty cool to think I actually own physical gold now, even if it's held by a custodian in Delaware. I live in Columbus, and it feels good to have some tangible assets out there, you know? Less abstract than just numbers on a screen.

Anyone else here recently make a rollover? What was your experience like? And for the veterans, any tips for how to think about this going forward? I'm trying to get a handle on what to expect with performance and how often I should be checking in. Super curious to hear other people's journeys!

3 comments

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Best Answer▲ 8 upvotes

margaret_chen🏆Advanced (250-500k)

Congrats on taking that step! Sounds like a smart move to diversify. Out of curiosity, did you go with a specific type of gold, like American Gold Eagles or something else, for the rollover?

Comments (3)

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

Nice! Congrats on making the move! I did something similar a few years back, though with a smaller amount from an old retail job. It's definitely a good feeling to have some of your assets in something tangible, especially with all the economic uncertainty these days. Good luck with your diversification journey!

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

Congrats on taking that step! Sounds like a smart move to diversify. Out of curiosity, did you go with a specific type of gold, like American Gold Eagles or something else, for the rollover?

karen_robinson💼Starter (0-50k)•less than a minute ago

Hey, that's awesome you're taking steps to diversify! Congrats on making a move you feel good about. Just curious, have you considered how the storage and insurance fees for physical gold might eat into those gains over the long haul, especially on a smaller amount? For some, those costs can really add up compared to just going with a gold ETF or mining stocks, which still give you exposure without the physical hassle. Definitely something to keep an eye on!

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