Inherited IRA to Gold IRA - What are your thoughts?

Sharon Evans

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Inherited IRA to Gold IRA - What are your thoughts?

sharon_evans💰Established (100-250k)

about 8 hours ago

Key Takeaways

•So, I’ve been sitting on this inherited IRA from my grandmother for a couple of years now.
•It’s sitting pretty at around $180k, mostly in a diversified mix of blue-chip stocks and bonds.
•Heard one of 'em on a call raving about physical gold last week.

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So, I’ve been sitting on this inherited IRA from my grandmother for a couple of years now. It’s sitting pretty at around $180k, mostly in a diversified mix of blue-chip stocks and bonds. I'm a secretary for one of the oil companies here in Tulsa, and honestly, the executives I work for have been talking a lot about inflation and hedging lately. Heard one of 'em on a call raving about physical gold last week.

My own portfolio, outside of this inherited IRA, is probably sitting around another $50-60k, mostly in some company stock and a growth fund. I've always been a bit more conservative, but the thought of this inherited money losing buying power really bugs me. I'm starting to seriously consider converting a good portion of that inherited IRA into a Gold IRA. I’m thinking maybe 30-40% could be a good starting point, so around $54k to $72k in physical gold and silver.

Has anyone here done an inherited IRA to gold conversion? What was the process like? Any particular custodians you’d recommend or steer clear of? I’m worried about fees and making sure I pick reputable dealers. And honestly, is now even a good time with gold prices being what they are? Part of me thinks it’s already run up too much, but then another part says it's only going to keep climbing with all the economic uncertainty. What are your experiences or insights on this?

Thanks in advance for any advice!

4 comments

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Best Answer▲ 10 upvotes

nancy_hall💰Established (100-250k)

Oh man, I'm almost in the exact same boat! My grandpa left me an IRA with a similar amount, and I've been eyeing the gold IRA route too. It's mostly in ETFs and some mutual funds right now, and the market volatility has me a little antsy. I'm curious to see what others say about this, especially with the current economic climate.

Comments (4)

nancy_hall💰Established (100-250k)Real Investor•less than a minute ago

donald_nelson💎Premium (500k-1m)Real Investor✓ Verified•less than a minute ago

Interesting situation! So, you're thinking of moving the whole $180k into a gold IRA? Are you planning to roll over the existing stocks and bonds as is, or sell them first and then use the cash to buy physical gold/silver? Just curious about the logistics there.

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

Interesting thought process, given the current market. While I totally get the appeal of converting to a Gold IRA for stability, especially with an inherited account, have you considered that a diversified portfolio of blue-chip stocks and bonds might actually be more resilient to inflation over the long term than just gold? Gold's great for hedging, no doubt, but those dividends and potential growth from established companies can really add up.

Plus, with an inherited IRA, you've got some specific distribution rules to keep in mind. Just make sure you're fully aware of how a physical gold IRA might impact those RMDs compared to a more liquid stock/bond portfolio. Wouldn't want any unexpected tax surprises!

betty_king📊Growing (50-100k)•less than a minute ago

Hey, that's a great question! Inherited IRAs can be a bit tricky with the RMD rules, especially if you're thinking about a Gold IRA. One thing to keep in mind is that not all custodians handle both traditional and self-directed precious metals IRAs seamlessly. Some might require a full transfer, while others can facilitate a recharacterization within the same account type (if your current one supports it).

I found this article that breaks down the considerations for inherited IRAs and precious metals pretty well. It might help you understand the nuances around RMDs and potential custodian changes: https://www.forbes.com/advisor/retirement/gold-ira-companies/ (scroll down a bit to the inherited IRA section). Good luck with your decision!

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