Rolled over a chunk of my old 401k into a Gold IRA - wondering about platinum too

Diane Bailey

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Rolled over a chunk of my old 401k into a Gold IRA - wondering about platinum too

diane_bailey💰Established (100-250k)

about 4 hours ago

Key Takeaways

•Finally got around to rolling over a good portion of my old 401k into a Gold IRA, and honestly, it feels pretty damn good.
•I've been sitting on that 401k from a previous life for years, just watching the market rollercoaster.
•I ended up moving about $150k into physical gold.

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Finally got around to rolling over a good portion of my old 401k into a Gold IRA, and honestly, it feels pretty damn good. I've been sitting on that 401k from a previous life for years, just watching the market rollercoaster. As a business owner here in Savannah, specifically in tourism, I’ve seen enough ups and downs to know that diversification isn't just a buzzword – it's survival. We weathered COVID, we’re weathering this current inflation mess, and I just had this nagging feeling that all my eggs shouldn't be in the stock market basket.

I ended up moving about $150k into physical gold. The process was surprisingly smooth, much less hassle than I expected. The company I went with walked me through the direct rollover from my old 401k to the self-directed IRA, and then the actual purchase of the gold. It's stored in a vault, obviously, not under my mattress! I sleep a lot better knowing that a significant chunk of my retirement isn't directly tied to the whims of the S&P 500 when things get wild. It’s about building a solid foundation, especially when you’re relying on tourist dollars that can feel like they disappear overnight sometimes.

Now that the gold's settled, I've been looking into other precious metals, specifically platinum. I know it's a bit more niche and volatile than gold, with strong industrial demand. My current portfolio is sitting somewhere between $200k-$250k after everything, and I'm wondering if adding a smaller allocation to platinum would be a smart move for even more diversification, or if it's just adding unnecessary risk. Any other investors here holding platinum in their IRA? What's your experience been like, especially with its price swings? Trying to decide if it's a good next step or if I should just stick with the gold and keep an eye on other asset classes.

3 comments

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Best Answer▲ 10 upvotes

susan_clark💰Established (100-250k)

That's awesome you're feeling good about the Gold IRA! Definitely makes sense to diversify, especially with your background in tourism. Just curious, have you looked into the liquidity differences between gold and platinum? While platinum is super valuable, sometimes it can be a bit trickier to sell quickly if you ever needed to, compared to gold which has a more established and active market. Something to consider if immediate access to funds is ever a concern for you.

Comments (3)

christopher_young🌟Ultra (5m+)Real Investor✓ Verified•less than a minute ago

Hey, that's awesome you finally got that rollover done! Curious though, when you say "a good portion," are we talking a specific percentage or just a comfortable chunk you felt good about moving?

maria_campbell📊Growing (50-100k)✓ Verified•less than a minute ago

Hey, totally get this! I did a similar thing last year with an old 401k from a company I left ages ago. It felt like such a relief to finally move it into something I felt more in control of, especially with all the market fluctuations lately. The platinum question is interesting – I actually looked into that too, but ended up sticking with just gold and silver for now. Good luck with your research!