Looking for Platinum IRA recs - small investor here
- ā¢Okay, so I've been kicking around the idea of diversifying some of my retirement funds into a Platinum IRA for a while now.
- ā¢My current portfolio with Fidelity is mostly stock-heavy, and with all the economic uncertainty, I'm really eyeing platinum as a good hedge.
- ā¢I'm not looking to move mountains here; probably starting with somewhere between $25k-$50k to get my feet wet.
Okay, so I've been kicking around the idea of diversifying some of my retirement funds into a Platinum IRA for a while now. I own a jewelry store here in Providence, so Iām pretty familiar with the metals market, but dealing with an IRA custodian and the whole setup is a different beast entirely. My current portfolio with Fidelity is mostly stock-heavy, and with all the economic uncertainty, I'm really eyeing platinum as a good hedge.
I'm not looking to move mountains here; probably starting with somewhere between $25k-$50k to get my feet wet. I've seen a lot of companies targeted at folks rolling over huge 401(k)s, but I'm curious if anyone here has recommendations for Platinum IRA providers that are good for smaller investors. Are there particular companies that have lower minimums or more personalized service for someone not coming in with a half-million dollar rollover?
My main concerns are transparency in fees and ease of setting up the account and buying the actual platinum. I know the spot price inside and out, but the premiums and storage fees are where I get a bit fuzzy with these IRA companies. Any horror stories or fantastic experiences with specific custodians or dealers when it comes to platinum? I really want to avoid any nasty surprises down the line.
Also, out of curiosity, for those of you who do have a Platinum IRA, what percentage of your overall retirement portfolio does it make up? I'm trying to figure out a smart allocation strategy. Thanks in advance for any insights!