Gifting gold to the grandkids and RMD planning
- •Been thinking a lot about the family wealth lately, especially with the grandkids getting older.
- •I've been in Gold since '09, seen a lot of ups and downs in the market (and in the oil patch here in Dallas!), but gold's always been my bedrock.
- •Got a decent chunk of my 700k portfolio in a Gold IRA, and it's been a great hedge.
Been thinking a lot about the family wealth lately, especially with the grandkids getting older. My own kids are doing pretty well for themselves, but seeing the younger generation come up, I want to make sure they've got some kind of solid foundation, something that isn't just paper. I've been in Gold since '09, seen a lot of ups and downs in the market (and in the oil patch here in Dallas!), but gold's always been my bedrock. Got a decent chunk of my 700k portfolio in a Gold IRA, and it's been a great hedge.
My big question is how to best pass some of this down. I'm hitting a point where RMDs are coming up for my traditional IRA. I've been playing around with the RMD Calculator on Gold IRA Blueprint and it's been super useful for getting my head around the numbers. It's making me think more strategically about how to manage these distributions. Like, if I'm going to be taking money out anyway, does it make more sense to convert some of the traditional IRA gold to a Roth earlier and then gift that, or maybe just gift physical gold directly from my personal stash? I'm trying to minimize taxes for them down the line, obviously.
The idea of them holding a physical asset, something tangible that isn't just a number on a screen, really appeals to me. It's a lesson the oil industry taught me – real assets always hold their value. Are any of you guys doing anything creative with gifting gold to younger family members? Thinking about setting up some kind of trust or just outright gifts when they hit certain milestones? I’d love to hear how others are approaching this generational transfer of wealth, especially with hard assets like gold.