Gold at $2300! What’s everyone else doing with their IRA?

Richard Garcia

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Gold at $2300! What’s everyone else doing with their IRA?

richard_garcia👑Elite (1m-5m)

about 2 months ago

Key Takeaways

•Okay, so watching gold blow right past $2300 an ounce this week, and then yesterday morning too, has been a trip.
•They laughed then, but who’s laughing now, right?
•I’ve got about $1.8 million in my IRA, with roughly 40% of it in physical gold coins and bars.

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Okay, so watching gold blow right past $2300 an ounce this week, and then yesterday morning too, has been a trip. I mean, I’ve had a significant chunk of my retirement savings in physical gold for decades now, dating back even before these fancy Gold IRAs came into vogue. I moved a big chunk of my 401k over into a Gold IRA back in 2010 when I retired from ExxonMobil, and it's been performing beautifully for a long time.

I still remember those days, explaining to my buddies at the refinery why I was so bullish on gold when everyone else was still all-in on tech stocks. They laughed then, but who’s laughing now, right? I’ve got about $1.8 million in my IRA, with roughly 40% of it in physical gold coins and bars. The rest is in some pretty stable dividend stocks and a few energy sector investments that have always treated me well. This recent surge has me thinking, though. Is this the time to take some profits, or is there still more room to run? We’ve seen these kinds of spikes before, and they don’t always last.

My advisor here in Houston is recommending I trim some of my gold exposure, maybe move it into some inflation-protected bonds or even some international equities. He’s usually pretty conservative, and given my age (mid-70s), that makes sense. But damn, it’s hard to sell when it feels like the momentum is so strong. I’ve been looking at the geopolitical landscape and the sheer amount of money printing still happening globally, and it just screams "gold" to me. I’m thinking about what the folks over in the Learning Center at Gold IRA Blueprint have to say about these kinds of market conditions.

I’m curious, for those of you with Gold IRAs, what are your next moves? Are you holding tight, taking some profits, or even adding more at these levels? Does anyone else feel like this is different from previous rallies?

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5 comments

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Best Answer▲ 10 upvotes

kenneth_parker💎Premium (500k-1m)

Wow, that's some serious foresight you had! "Dating back even before these fancy Gold IRAs came into vogue" really caught my eye. Were there specific events or market conditions that made you decide to go heavy into physical gold so early on, before it was a more mainstream retirement option?

Comments (5)

joyce_cooper📊Growing (50-100k)✓ Verified•about 2 months ago

Dude, I hear you! Seriously, it's wild to watch. My dad actually did something similar back in the day, not a "Gold IRA" per se, but definitely moved a good portion of his retirement into physical gold when it was significantly lower. He's been feeling pretty smug about it lately, haha. Makes me wonder if I should've been listening to his "gold is king" rants more closely!

kenneth_parker💎Premium (500k-1m)Real Investor✓ Verified•about 2 months ago

charles_lewis💎Premium (500k-1m)Real Investor•about 2 months ago

Honestly, it's wild to see gold at these levels. But I'm not really doing anything different with my IRA just because of recent price action. I think chasing the highs can be a risky game, and my allocation is based on a longer-term strategy, not a week-to-week price spike. Diversification is still king for me, even with gold's impressive run.

laura_sanchez💰Established (100-250k)Real Investor✓ Verified•about 2 months ago

That's definitely a wild ride for gold lately! For anyone looking into a Gold IRA, it's super important to understand the storage options. Some companies offer segregated storage where your specific bars are kept separate, while others do commingled (fungible) storage where your gold is pooled with others'. I found this breakdown pretty helpful for weighing the pros and cons: https://www.investopedia.com/articles/investing/080916/how-store-gold-your-ira.asp

christopher_young🌟Ultra (5m+)Real Investor✓ Verified•about 2 months ago

This run-up to 2300 has been interesting. I closed out about 15% of my physical gold allocation last week, just rotating some gains into industrial real estate. Still holding heavy on the physical precious metals side, but taking profits off the table when the market gets a bit frothy is always smart. Remember, you don't lose money taking a profit.

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