Palladium in my IRA? Thinking about it, good idea or not?

Joshua Phillips

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Palladium in my IRA? Thinking about it, good idea or not?

joshua_phillips🏆Advanced (250-500k)

about 2 months ago

Key Takeaways

•Been doing a lot of number crunching lately, looking at how to diversify my retirement a bit more.
•I've had a solid chunk of my portfolio, probably around $350k, in a Gold IRA for the last seven years.
•It's been a pretty good ride, not gonna lie, especially considering the volatility we've seen in other markets.

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Been doing a lot of number crunching lately, looking at how to diversify my retirement a bit more. I've had a solid chunk of my portfolio, probably around $350k, in a Gold IRA for the last seven years. It's been a pretty good ride, not gonna lie, especially considering the volatility we've seen in other markets. For someone like me who’s spent decades in the steel industry down here in Birmingham, understanding commodities and their cycles is second nature, so gold felt like a natural fit.

Now, I'm eyeing palladium. Hearing a lot of chatter about its industrial demand, especially in catalytic converters. I remember back in '08 when platinum was kingshit, and palladium was kind of its overlooked cousin. Things have definitely shifted. I’m thinking about allocating maybe 10-15% of my new retirement contributions to palladium instead of just pure gold. It seems like it could be a decent hedge against economic uncertainty, similar to gold, but with that added industrial demand element that gold doesn't really have in the same way.

Anyone here have any experience with palladium in their IRA? I'm curious about the long-term prospects. Is it too niche, or does that industrial demand make it a more robust investment than it appears on the surface? I'm not looking for some get-rich-quick scheme; I'm 58 and just want to make sure my nest egg is as secure and diversified as possible for when I finally decide to hang up my hard hat.

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5 comments

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Best Answer▲ 9 upvotes

michael_anderson🏆Advanced (250-500k)

Totally agree with you on the diversification front. I've had a similar experience with my Gold IRA, around $280k in there for about five years, and it's definitely been a steady performer. I've also been eyeing palladium for a while too, especially with the industrial demand. Might be a smart move to add a bit and spread things out further.

Comments (5)

kenneth_parker💎Premium (500k-1m)Real Investor✓ Verified•about 2 months ago

Hey, totally get where you're coming from. I actually went through a similar thought process a few years back, but with silver. My Gold IRA was doing great, but I felt like I was missing out on other precious metals. Ended up adding a small percentage of silver, maybe 10% of my total metals holdings, and it's been a nice little boost.

Palladium is definitely interesting, especially with its industrial uses. Just make sure you've done your research on the current market and future demand. Good luck!

charles_lewis💎Premium (500k-1m)Real Investor•about 2 months ago

Interesting thought! You mentioned having a "solid chunk" already in a Gold IRA. Are you thinking of adding palladium to that existing Gold IRA, or opening a separate one specifically for palladium?

karen_robinson💼Starter (0-50k)•about 2 months ago

Hey, I get the appeal of palladium – it's been on a wild ride, and the industrial demand for it is definitely interesting. But for a retirement account, especially after seeing gold's stability these past few years, are you really sure you want to add something that volatile?

I mean, the whole point of an IRA is usually long-term, relatively secure growth. Palladium's volatility could be a double-edged sword, and while it *could* pay off big, it could also see some pretty significant dips. Just something to consider before jumping in, especially with a chunk of your retirement funds.

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

Hey, that's an interesting thought! Palladium has definitely had some wild swings, so it's smart you're looking into it closely.

One thing to keep in mind is that while palladium *can* be held in an IRA, it has to meet the IRS fineness standards. Not all palladium products qualify, so make sure you're looking at things like American Palladium Eagles or Canadian Palladium Maples. Good luck with your research!