Rollover took way longer than expected - anyone else?
- •Just closed on the Ajax deal, finally got a minute to check in here.
- •Been meaning to ask you all something about these rollovers.
- •Did a pretty substantial direct rollover, about $800k from an old 401k that was just sitting there, felt like it was basically bleeding value.
Just closed on the Ajax deal, finally got a minute to check in here. Been meaning to ask you all something about these rollovers. Did a pretty substantial direct rollover, about $800k from an old 401k that was just sitting there, felt like it was basically bleeding value. Wanted to get it into something real, tangible, you know? Started the process for a Gold IRA back in early November, figuring it’d be done before the holidays. My guy in Aspen said it should be a few weeks, tops.
Well, here we are, almost February, and the funds just got fully settled last week. That’s like a solid two and a half months. I get things can take time, especially with larger sums and all the paperwork involved, but seriously? I was itching to get that capital working for me, and that delay felt like an eternity. Anyone else experience this kind of lag? Is that normal for larger transfers, or did I just get unlucky with my custodian/administrator?
My old 401k provider was Fidelity, and honestly, they weren't exactly hustling on their end. Super slow processing the outgoing paperwork. Meanwhile, the Gold IRA custodian was ready to go almost immediately. Just curious if this is par for the course for everyone else who’s moved a decent chunk over, say, north of half a million. When I was moving liquid cash into more physical metals a few years back, that was way quicker. Just feels like this qualified account stuff adds a whole other layer of bureaucracy, which is exactly what I was trying to get away from in the first place.