Platinum in an IRA? What's your take?

Laura Sanchez

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🔲 Platinum IRA

Platinum in an IRA? What's your take?

laura_sanchez💰Established (100-250k)

about 5 hours ago

Key Takeaways

•Been thinking a lot about platinum lately, specifically for my Gold IRA.
•Gold has been a rock, no complaints there, but I'm wondering if platinum is being slept on.
•It seems like it's trading at a significant discount to gold right now, which always piques my interest as an entrepreneur – buying low, right?

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Been thinking a lot about platinum lately, specifically for my Gold IRA. My portfolio is sitting around the $180k mark right now, mostly gold and some silver, and I'm always looking for ways to diversify and maybe get ahead of the curve. Living here in El Paso, on the border, I see materials and commodities moving constantly, and it just makes you think differently about what's undervalued versus what's being hyped. Gold has been a rock, no complaints there, but I'm wondering if platinum is being slept on.

My initial thought is that the industrial demand for platinum, especially with things like catalytic converters and even hydrogen fuel cells, could really ramp up in the coming years. It seems like it's trading at a significant discount to gold right now, which always piques my interest as an entrepreneur – buying low, right? But then there's the volatility. It feels like platinum can swing wildly. Has anyone here actually added platinum to their precious metals IRA? What was your rationale?

I'm also getting to the point where I'm starting to think about future distributions. My wife and I are still grinding, but retirement isn't that far off. I've been meaning to really dig into the RMDs for my IRA, and frankly, it stresses me out a bit to think about those penalties if you screw it up. I found this RMD Calculator online – seems pretty straightforward, but I'm curious if anyone has used it or has any tips on navigating RMDs with physical precious metals. Are there any unique considerations for a platinum IRA when it comes to distributions?

So, bottom line: is platinum undervalued right now, or am I just seeing what I want to see? And how do you factor in RMDs when considering a less common metal like platinum in your retirement account? Any insights from folks who have walked this path would be greatly appreciated.

5 comments

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Best Answer▲ 10 upvotes

matthew_murphy👑Elite (1m-5m)

Interesting thought about platinum. You mentioned seeing materials and com... what kind of materials and commodities specifically are you seeing in El Paso that are making you consider platinum as a good diversification move?

Comments (5)

joyce_cooper📊Growing (50-100k)✓ Verified•less than a minute ago

Hey, I hear you on the diversification front. I actually had a similar thought a while back with palladium. My portfolio isn't quite as chunky as yours, but I was looking at adding it to my precious metals IRA for the same reasons – just trying to spread things out a bit. Ended up sticking to gold and silver for now, but platinum is definitely an interesting one to consider, especially with its industrial uses. Good luck with whatever you decide!

matthew_murphy👑Elite (1m-5m)Real Investor•less than a minute ago

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

Interesting thought on Platinum. While diversification is generally good, I'd be a bit cautious about loading up on it in an IRA, especially with a portfolio already heavily weighted in precious metals. Platinum's industrial demand can be a double-edged sword; great when things are booming, but can get hit harder during economic downturns than gold, which often acts as a safe haven. Just something to consider alongside the potential upsides!

linda_taylor📊Growing (50-100k)✓ Verified•less than a minute ago

Hey, cool you're looking into platinum! Definitely a smart move to diversify. Just a heads-up though, when you're thinking about adding platinum to an IRA, make sure it's investment-grade platinum. The IRS has pretty specific purity requirements (usually 99.95% pure) for it to be held in a self-directed IRA. Things like platinum jewelry or collectible coins often don't meet those standards.

You can find a good list of IRS-approved platinum coins and bars on most reputable precious metals dealer websites, or even on the IRS website if you want to dig into the nitty-gritty. Good luck with your diversification!

karen_robinson💼Starter (0-50k)•less than a minute ago

Totally agree with the idea of looking beyond just gold and silver! Platinum is super interesting right now. My IRA is smaller, around $95k, but I actually just added a small allocation of platinum (maybe 5% of my precious metals) a few months ago after reading up on the industrial demand. Seems like a smart play for diversification.

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