Inherited IRA to Gold - My Experience (So Far)

Timothy Reed

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Inherited IRA to Gold - My Experience (So Far)

timothy_reed💎Premium (500k-1m)

about 7 hours ago

Key Takeaways

•Thought I'd share my experience with converting an inherited IRA into physical gold, specifically to hold on to some of my late father's legacy.
•He passed just over a year ago, and bless his heart, he was always a big believer in tangible assets.
•Left me his traditional IRA, and honestly, the thought of just keeping it in the market felt...

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Thought I'd share my experience with converting an inherited IRA into physical gold, specifically to hold on to some of my late father's legacy. He passed just over a year ago, and bless his heart, he was always a big believer in tangible assets. Left me his traditional IRA, and honestly, the thought of just keeping it in the market felt... not right, considering how he always talked about "real money." My wife and I are both in our early 50s, so retirement isn't that far off, but we've still got a good 10-15 years, and I wanted something solid for part of this inheritance.

I started looking into a Gold IRA. Had about $450k in the inherited IRA, and decided to roll over about $100k of it into physical gold. The process itself was a bit more back and forth than I expected, mostly with getting the paperwork straight with the old custodian and then the new one for the self-directed IRA. Ended up going with a company that specializes in precious metals IRAs, and they helped coordinate the direct trustee-to-trustee transfer which was key to avoid any taxable distributions. Didn't want to mess that up.

The actual purchase was for 100 oz gold bars. I know some folks go for coins, but for a larger amount like this, the bars just made more sense from a cost perspective (lower premiums). They're stored in a Delaware Depository facility, which is IRS-approved, obviously. It's been about six months now, and honestly, it just feels... secure. I'm not checking the price every day like I do with some of my other investments. It's more of a long-term hedge, especially with all the economic uncertainty floating around these days. Being in the dairy industry here in Madison, you see how much things can fluctuate, and having a bedrock asset like gold feels good.

Anyone else here go through this process with an inherited IRA? What was your experience like? Did you choose bars or coins, and why? Curious to hear if my thinking aligns with others.

3 comments

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Best Answer▲ 10 upvotes

patricia_miller📊Growing (50-100k)

Hey, that's a really personal decision, and it's cool you're honoring your dad's beliefs. Just throwing this out there as a different perspective: while physical gold can be a great hedge, an inherited IRA generally has a 10-year distribution rule (unless you're an eligible designated beneficiary). If you're looking at potentially needing those funds within that timeframe, liquidating physical gold can sometimes be a bit more involved than selling an ETF, and you might face slightly wider spreads. Something to consider if liquidity becomes a factor down the road!

Comments (3)

ronald_morris👑Elite (1m-5m)Real Investor•less than a minute ago

Hey, totally get where you're coming from. My grandpa was the same way, always saying "they can't print more gold!" When I inherited a small IRA from him last year, I actually did something similar. Haven't fully converted it all, but moving a portion into some physical gold coins felt like a nod to him and his beliefs. It's cool to hear someone else having a similar experience!

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

Hey, thanks for sharing your experience, it's really helpful to hear these first-hand accounts. Sorry for your loss, but it sounds like you're honoring his wishes well.

I'm curious, did you look into the "in-kind" transfer option at all for the inherited IRA, or was that not really applicable since it was a traditional IRA being moved to gold? Just wondering about the logistics there.