How I moved part of my old 401k into a Gold IRA after the last market dip

Catherine Bell

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How I moved part of my old 401k into a Gold IRA after the last market dip

catherine_bell🏆Advanced (250-500k)

about 2 months ago

Key Takeaways

•Especially sitting here in Spokane, seeing some of the local industry fluctuations, it just made me think about tangible wealth.
•My family's always preached diversification, especially in timber assets, but I realized my retirement savings were basically all in paper.
•I started researching Gold IRAs and the whole rollover process.

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Okay, so I've been lurking for a while, mostly reading your guys' posts, but wanted to share my experience getting some real assets into my retirement picture. Last year, after that dip we had – you know the one I'm talking about in early 2023 – I honestly started looking at my portfolio and feeling a little uneasy. My traditional 401k, even though it's got a decent chunk in it (north of 400k now, mostly growth stocks my dad's advisor picked out years ago), just felt… exposed. Especially sitting here in Spokane, seeing some of the local industry fluctuations, it just made me think about tangible wealth.

My family's always preached diversification, especially in timber assets, but I realized my retirement savings were basically all in paper. I started researching Gold IRAs and the whole rollover process. Honestly, it seemed a bit daunting at first, all the IRS rules and picking a custodian. I ended up calling a few different companies after reading a bunch of reviews here and on some other financial subs. The one I went with made the whole direct rollover from my old 401k surprisingly painless. They handled all the paperwork with my previous provider, and I didn't have to touch any of the cash, which was a huge relief.

I decided to move about $120k of that 401k into physical gold, mostly American Gold Eagles and some Canadian Maples for variety. It’s sitting securely in a depository, and knowing it's there gives me a level of peace of mind that those stock certificates just don't anymore. It's not about trying to get rich quick with gold, it's about preserving wealth for the long haul, especially with inflation concerns and everything else going on globally. It just feels like a smarter play for generational wealth.

Has anyone else here done a similar large rollover from a conventional 401k? What kind of metals did you opt for? Any surprises or things you wish you'd known going into it?

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6 comments

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Best Answer▲ 9 upvotes

timothy_reed💎Premium (500k-1m)

My advisor told me 10-15% in gold is the sweet spot but I went heavier. We'll see how it plays out.

Comments (6)

dorothy_lopez💰Established (100-250k)Real Investor•about 2 months ago

Totally get this! I did something similar, though a bit more impulsive. When things started looking shaky just before that dip, I pulled a chunk out of my brokerage account and put it into some physical silver. Not a Gold IRA specifically, but the same idea of wanting tangible assets. Zero regrets, seeing how things played out. It's a different kind of peace of mind, for sure.

diane_bailey💰Established (100-250k)Real Investor•about 2 months ago

Hey, that's awesome you got that done! I've been thinking about doing something similar. When you say "real assets," what specific types of gold (or other precious metals) did you end up going with for your IRA?

sandra_green📊Growing (50-100k)✓ Verified•about 2 months ago

That's an interesting move, and I'm glad it's giving you peace of mind. While gold definitely has its place for some, I'm personally a bit more cautious about moving a large chunk of a 401k into it. Historically, it hasn't always kept pace with inflation or broader market gains over the long haul, especially when you factor in storage fees and potential bid-ask spreads. Just something to consider for anyone else thinking about it – make sure to weigh all the pros and cons for *your* specific situation.

linda_taylor📊Growing (50-100k)✓ Verified•about 2 months ago

Awesome to hear you got some precious metals into your retirement plan! That market dip was definitely a wake-up call for a lot of people. For anyone else looking to do something similar, don't forget to check if your old 401(k) is eligible for a direct rollover – it can save you some headaches and potential tax issues compared to an indirect one.

jennifer_martinez💰Established (100-250k)Real Investor✓ Verified•about 2 months ago

Totally get this! That early 2023 dip spooked a lot of people, myself included. I basically did the same thing, though mine was an old Roth 401k sitting around from a previous job. It just felt like the right time to diversify a bit more into something tangible. Glad it's working out for you too!