My 401k to Gold IRA Rollover - Longer than I thought, but worth it.
- •Just completed my 401k to Gold IRA rollover, and wanted to share my experience with the timeline for anyone thinking about it.
- •Started the process about six weeks ago, and it finally funded and got the metals delivered to the depository last week.
- •My original 401k was from a previous company, sitting with Vanguard, and had about $750k in it I wanted to move over.
Just completed my 401k to Gold IRA rollover, and wanted to share my experience with the timeline for anyone thinking about it. Started the process about six weeks ago, and it finally funded and got the metals delivered to the depository last week. My original 401k was from a previous company, sitting with Vanguard, and had about $750k in it I wanted to move over. I've got a pretty significant metals portfolio outside of this (probably 50/50 physical vs. paper assets in my total net worth, if I'm being honest), but I wanted to get some of that tax-advantaged. Didn't realize how much of a headache it could be.
The initial paperwork with the Gold IRA company was surprisingly quick, maybe a day or two. But then dealing with Vanguard to release the funds was like pulling teeth. Multiple phone calls, faxes (seriously, who still uses faxes?), and a lot of follow-up on my end. They kept saying 5-7 business days, then it stretched to two weeks, then almost three for the check to actually get cut and mailed out. It felt like they were actively trying to slow roll it, which, honestly, wouldn't surprise me. Anyone else experience this kind of drag with a major institution on a rollover?
Once the check finally arrived at the Gold IRA custodian, things sped up significantly. They notified me within a day, gave me a call to confirm the order, and the metals were sourced and shipped to the Delaware depository in about a week. The whole process from start to finish was closer to six weeks, not the 3-4 I was initially told. Definitely something to factor in if you're looking to time the market or just want your assets moved quickly. I keep a pretty close eye on my overall portfolio performance, and I've been using that Gold IRA Calculator to get a rough idea of what that $750k could look like over the next 10-15 years given different gold price scenarios. Gotta protect those gains, especially in this market.
Anyway, glad it's done. Peace of mind knowing a chunk of my retirement is in tangible assets, out of the reach of market volatility. For those of you in Scottsdale or Arizona generally, any particular depositories you prefer for personal storage outside of an IRA? Always looking for good recommendations.