Moving my old 401k into a Gold IRA after retirement

Donald Nelson

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Moving my old 401k into a Gold IRA after retirement

donald_nelson💎Premium (500k-1m)

3 months ago

Key Takeaways

•Finally getting around to sharing my experience with rolling over my old 401k into a Gold IRA.
•I retired from the auto industry about three years ago after 30+ years, and it felt like the right time to make this move.
•I’ve been holding physical gold for over two decades now, mostly smaller bars and coins, but never really dove into the IRA side until recently.

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Finally getting around to sharing my experience with rolling over my old 401k into a Gold IRA. I retired from the auto industry about three years ago after 30+ years, and it felt like the right time to make this move. I’ve been holding physical gold for over two decades now, mostly smaller bars and coins, but never really dove into the IRA side until recently. My portfolio is sitting somewhere in the high six figures, so we’re talking about a significant chunk of change that I wanted to protect.

The whole process was actually smoother than I expected, though it took some focused effort to get all the paperwork sorted. The company I went with really walked me through it, explaining how the indirect rollover worked to avoid any penalties. It wasn't like cashing out and then buying gold, which is what some folks mistakenly think. The feeling of seeing those numbers transfer from a volatile stock-based account to physical, tangible assets in a vault was incredibly reassuring. Living in Detroit, you see how quickly things can change, and having that stability feels good, especially now that I'm not actively earning a paycheck.

For those of you who've been around the block a few times financially, how do you manage your asset allocation post-retirement? I'm curious if others have a similar split between traditional investments and precious metals. I'm sitting on about 25% of my total portfolio in gold and silver now, and I’m wondering if I should consider upping that further, given all the buzz about inflation. What are your thoughts on precious metals as a long-term hedge in retirement, especially for those of us who remember the '70s?

5 comments

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Best Answer▲ 19 upvotes

ronald_morris👑Elite (1m-5m)

I rolled over about $80k last year. Honestly the hardest part was just picking which metals to hold. Still second-guessing myself.

Comments (5)

helen_turner💰Established (100-250k)Real Investor•3 months ago

Hey, this sounds super similar to what I did! Not with a Gold IRA specifically, but after I retired from teaching a few years back, I rolled my old 403b into a self-directed IRA and diversified a lot more than I ever could with my old plan. The peace of mind is definitely worth it. Glad to hear it's working out for you!

steven_mitchell🏆Advanced (250-500k)Real Investor✓ Verified•3 months ago

Hey, that's awesome you're finally making the move! Congrats on retirement, too. Thirty years in auto is no joke.

You mentioned holding physical gold for over two decades, mostly smaller bars. Are these the same types of bars you're looking to hold in your Gold IRA, or are you going for something different with the IRA rollover?

mark_adams👑Elite (1m-5m)Real Investor•3 months ago

Hey, congrats on the retirement and the move to diversify! While I definitely see the appeal of having physical gold, I've always been a bit wary of going all-in, especially with an entire 401k rollover. Have you considered keeping some of your portfolio in more traditional investments that still offer growth potential? Gold is great for stability, but it doesn't typically provide income or significant capital appreciation like stocks can. Just a thought to keep a broader perspective!