Gold IRA storage fees after a rollover - what's normal?

Michael Anderson

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Gold IRA storage fees after a rollover - what's normal?

michael_anderson🏆Advanced (250-500k)

about 5 hours ago

Key Takeaways

•Just did a 401k to Gold IRA rollover, and honestly, the whole process was smoother than I expected.
•Ended up moving about $350k into a Gold IRA, mostly physical gold with a bit of silver thrown in for good measure.
•Now, I'm looking at the fee schedule for storage, and I just want to make sure I'm not getting hosed.

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Just did a 401k to Gold IRA rollover, and honestly, the whole process was smoother than I expected. My construction business has been doing well, and with all the uncertainty in the market (and frankly, my gut feeling about the direction of the dollar), I wanted some real, tangible assets outside of stocks and bonds. Ended up moving about $350k into a Gold IRA, mostly physical gold with a bit of silver thrown in for good measure.

Now, I'm looking at the fee schedule for storage, and I just want to make sure I'm not getting hosed. The company I went with is quoting me about $200 annually for segregated storage of my metals. It’s a pretty reputable depository they're using, fully insured, all that jazz. I was comparing it to some numbers I vaguely remember seeing online a while back, which seemed higher, but it's tough to get an apples-to-apples comparison sometimes. I’m based out of Chicago, so I looked at a few local places too, but the one I chose seemed to have the best all-around package including the actual purchase costs.

Is $200 a year for segregated storage a fair shake for a portfolio of this size? I know for non-segregated it can be a percentage of the value, but I insisted on segregated because, well, it’s my gold, not just a share of some commingled pile. I’m a big believer in owning what you own, especially when it comes to something as fundamental as precious metals. Any other construction guys or small business owners here keeping a close eye on these kinds of fees?

What are others paying out there? Especially for folks who've moved a significant amount of their retirement into physical metals. Are there any hidden fees I should explicitly ask about related to storage or potential future distributions? Just trying to make sure I've got all my bases covered.

3 comments

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Best Answer▲ 9 upvotes

donald_nelson💎Premium (500k-1m)

Glad your rollover went smoothly! That's always a relief.

On the storage fees though, while it's good to be aware of them, I'm not sure I'd call it a "big hit." Compared to some of the hidden fees and expense ratios you see in traditional mutual funds or even just the potential loss of purchasing power from inflation over time, a few hundred bucks a year for secure, insured storage of physical gold feels like a pretty reasonable trade-off to me. Especially if you're holding for the long haul like it sounds like you are.

Comments (3)

barbara_white🏆Advanced (250-500k)Real Investor✓ Verified•less than a minute ago

Congrats on the rollover! It's such a relief to have that done, right? I totally get what you mean about the market uncertainty – that's exactly why I went the Gold IRA route too.

My storage fees were pretty straightforward, a flat annual fee based on the value, not the weight. Definitely worth asking your custodian for a breakdown if you're not seeing that already, just to make sure you're comparing apples to apples across providers. Good luck!

donna_rogers🏆Advanced (250-500k)Real Investor•less than a minute ago

Hey, congrats on the smooth rollover! That's always good to hear. You mentioned you wanted tangible assets outside of... what exactly were you looking to diversify away from or get out of? Just curious about your specific motivations beyond the general market uncertainty.