Question about storage fees for gold IRA
- •Been seeing a few posts lately about folks getting into gold IRAs, and it got me thinking about something that's been bugging me a bit: storage fees.
- •Land's good, but it ain't gold when the market's shaky, you know?
- •Anyway, I've got a little over $600k in physical gold in there, mostly American Gold Eagles and some Canadian Maples.
Been seeing a few posts lately about folks getting into gold IRAs, and it got me thinking about something that's been bugging me a bit: storage fees. I've had my gold IRA for about five years now, came into a decent chunk of change after selling off some dairy property outside Madison, and decided to diversify. Land's good, but it ain't gold when the market's shaky, you know? Anyway, I've got a little over $600k in physical gold in there, mostly American Gold Eagles and some Canadian Maples. I went with a reputable custodian, did my homework, everything seemed above board.
Initially, I didn't stress too much about the storage fees. They seemed reasonable enough when I signed up, a flat annual fee plus a small percentage over a certain threshold. But looking at it now, five years in, it's starting to add up. I know it's the cost of doing business, keeping those assets safe and insured, but it still feels like a drag seeing that deduction each year. It’s not like I’m accessing it frequently – this is a long-term play for retirement, pure and simple. Just hoping for some peace of mind down the road, especially after seeing all the inflation talk.
So, for those of you with similar setups, what are you paying for storage? Are there any custodians out there with significantly better fee structures that I should be looking into? I'm not trying to be cheap, just practical. I'm a midwesterner, value a dollar, and want to make sure I'm not leaving money on the table for no good reason. Is paying a flat fee generally better than a percentage, or does it depend on the value? Just curious what others' experiences have been.