Minimums for Gold IRAs - what did you guys start with?
- •Just trying to get a feel for what kind of minimum investments you all encountered when setting up your Gold IRAs.
- •My wife and I have been looking at a couple of different providers, and the minimums seem to be all over the place.
- •One place quoted us $50,000 to get started, which feels pretty steep, especially since we're also trying to save up for our son's college tuition.
Just trying to get a feel for what kind of minimum investments you all encountered when setting up your Gold IRAs. I've had about $150k in my portfolio for the last year and a half, mostly in mutual funds and some real estate down here in El Paso, but the volatility has me seriously considering diversifying into precious metals. My wife and I have been looking at a couple of different providers, and the minimums seem to be all over the place.
One place quoted us $50,000 to get started, which feels pretty steep, especially since we're also trying to save up for our son's college tuition. Another one was closer to $25,000, which is more manageable, but still a decent chunk of change. Both of them sound like they have decent customer service, and the reps seemed knowledgeable enough when I was asking about storage options and fees. I get that these companies have overhead, but when you're used to just clicking a button to buy a stock, these minimums can feel a bit... old school, you know?
My business has been doing pretty well with the cross-border trade, and I've always had a soft spot for gold – it's something tangible, something that people on both sides of the border understand as real wealth. It feels like a smart move against inflation, especially with all the economic uncertainty globally. But man, these minimums are making me pause. Did any of you start with less than $25k, or is that generally the floor for most reputable places? What was your experience like finding a provider that fit your budget?