Moving 401k to Gold IRA - fees are eating my brain

Mark Adams

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Moving 401k to Gold IRA - fees are eating my brain

mark_adams👑Elite (1m-5m)

about 2 months ago

Key Takeaways

•Alright, so I’m finally pulling the trigger on this.
•Been eyeing a gold IRA for a while, especially with all the noise lately.
•I’ve got about $1.8M in an old 401k sitting at Fidelity that's just… underperforming in my opinion.

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Alright, so I’m finally pulling the trigger on this. Been eyeing a gold IRA for a while, especially with all the noise lately. I’ve got about $1.8M in an old 401k sitting at Fidelity that's just… underperforming in my opinion. Thinking of rolling over about $750k of it into a gold IRA. My firm’s compliance department finally gave me the green light after a lot of back and forth, which was a bigger pain than getting a tee time at Winged Foot on a Saturday.

I’ve been talking to Augusta and Goldco, and honestly, the fee structures are just swirling around in my head. Everyone pitches "low fees," but then you dig in, and it's setup fees, annual admin fees, storage fees, commission on the spread… it feels like I need a Rosetta Stone just to understand what I'll actually be paying. My custodian is pushing Delaware Depository, which seems reputable enough, but I'm getting different numbers for their storage. Is there a better, more transparent way to compare these things?

My concern isn't just the upfront cost, but what this looks like over 10-15 years. I’m 52, got a good 15 years until I really want to start drawing down, so these fees are going to compound like crazy. Anyone here done a substantial rollover like this recently? What was your experience with the true all-in costs? Any hidden gotchas I should be hyper-aware of?

Also, on the actual metals: I'm looking at a mix of American Gold Eagles and maybe some Canadian Maples for variety. Is anyone diversifying into silver too within their IRA? I'm debating putting maybe 10-15% of the allocation into silver, but I worry about the higher volatility and storage costs for the bulk. Thoughts?

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3 comments

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Best Answer▲ 10 upvotes

laura_sanchez💰Established (100-250k)

Hey, totally get the frustration with underperforming funds. $1.8M is a pretty substantial sum, though. Just curious, why are you only looking to roll over $750k of it? Are you keeping the rest at Fidelity, or moving it elsewhere?

Comments (3)

joseph_harris📊Growing (50-100k)•about 2 months ago

Ugh, I feel you on the fees. It's like they're designed to make your head spin. I went through a similar thing last year when I moved a chunk of my old 401k. The initial quotes I got for storage and admin fees were insane, almost made me reconsider.

Definitely shop around and don't be afraid to haggle a bit. Some places are more flexible than they let on at first. Good luck!

laura_sanchez💰Established (100-250k)Real Investor✓ Verified•about 2 months ago

sandra_green📊Growing (50-100k)✓ Verified•about 2 months ago

Totally get the fee anxiety, it's real. But, and this is just my two cents, are you *sure* that $750k chunk is really "underperforming" in a 401k, or is it more that the general market has just been a bit flat/down lately? Gold IRAs definitely have their place, but sometimes the performance perception can be skewed by broader market trends rather than the investment itself. Just something to chew on before making a big move like that.

The biggest mistake retirees make with their 401(k)

Most people don't diversify until after a crash. Get the free guide and protect your nest egg.

Under $100k? Compare options →