Inherited IRA to Gold - My Experience and Some Questions
- •Just closed on unloading a couple of condos in Snowmass and was thinking about the inherited IRA my aunt left me back in '19.
- •When she passed, God rest her soul, I suddenly had this ~$800k account to deal with.
- •First thing I did was call my guy and get it all moved into a self-directed account.
Just closed on unloading a couple of condos in Snowmass and was thinking about the inherited IRA my aunt left me back in '19. When she passed, God rest her soul, I suddenly had this ~$800k account to deal with. First thing I did was call my guy and get it all moved into a self-directed account. Didn’t even touch it for a year, just let the market do its thing. But inflation started making me nervous, and honestly, seeing all that paper money just sitting there felt… flimsy. Especially after dealing with contractors and supply chain headaches for the last few years on my developments, the tangible nature of precious metals really started appealing to me.
So, about two years ago, I decided to pull the trigger on converting a good chunk of it to physical gold, using an IRA custodian who specialized in this. It was a pretty straightforward process, honestly. Had about 60% of the account moved into various gold coins and bars, all stored in an approved depository. The process itself was surprisingly quick – a few weeks from start to finish. Watching the gold prices jump around since then has been interesting. I'm up a decent bit, certainly more than I would have been in a standard equity fund over the same period, given the volatility.
Now, I’m looking at potentially adding more, maybe some more silver bars this time around, hence why I'm here in this sub. The original conversion was mostly gold eagles and some kilo bars. Anyone experienced with converting an inherited IRA specifically into silver bars? I'm not talking about some small amount, I'm thinking a significant portion of what's left. Are there any particular custodians that are better for large silver holdings in an inherited IRA? And for those who have done something similar, how has the storage and liquidation piece been for you?
Thinking about allocating another $300k from that inherited account into silver. Would love to hear some real-world feedback from anyone who's navigated this. The tax implications of the RMDs are another thing I'm always keeping an eye on – has holding physical precious metals made that any more complicated for anyone?