How long did your Gold IRA rollover actually take? Feeling antsy here.
- •Okay, so I finally pulled the trigger on rolling over a portion of an old 401k into a Gold IRA.
- •I’m an accountant, so I've been eyeing the tax advantages and diversification for a while, especially with all the economic uncertainty lately.
- •I’ve got about $150k from a previous employer’s 401k that was just sitting there, not really doing much for me.
Okay, so I finally pulled the trigger on rolling over a portion of an old 401k into a Gold IRA. I’m an accountant, so I've been eyeing the tax advantages and diversification for a while, especially with all the economic uncertainty lately. I’ve got about $150k from a previous employer’s 401k that was just sitting there, not really doing much for me. After a detailed chat with a well-regarded firm, I decided to go ahead and move $75k of it into physical gold. The paperwork took a minute, but everything was submitted last week.
My advisor estimated a 2-4 week timeline from start to finish for the funds to clear and the precious metals to be purchased and stored. I understood that going in, but man, now that it's in motion, I'm feeling a bit antsy. I know it's not a stock market trade that settles in two days, but I keep checking my accounts. I'm based in Atlanta, and I'm using a fairly standard custodian/dealer setup, nothing exotic.
For those of you who have done a direct rollover from a 401k to a Gold IRA (not a 60-day indirect rollover), what was your actual experience with the timeline? Did it really stick to the estimates, or did it drag on longer? I’m particularly curious about the time from when your old custodian released the funds to when the gold was actually purchased and in your new IRA account. Is there anything I should be looking out for that might cause delays?
Just trying to manage my expectations here. It’s a significant chunk of my portfolio, and while I'm confident in the decision, the waiting game is a bit stressful. What was your longest wait? Or your quickest?