Palladium in my IRA? Thinking about diversifying my precious metals.

Charles Lewis

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Palladium in my IRA? Thinking about diversifying my precious metals.

charles_lewis💎Premium (500k-1m)

about 2 months ago

Key Takeaways

•I've been a pretty staunch gold bug for years now, especially with the crazy economic climate we've seen.
•My Gold IRA is a significant chunk of my portfolio, probably sitting around $300k of the $800k I'm managing.
•I've been focused on wealth preservation, as any good lawyer would be, and gold has always felt like the safest harbor.

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I've been a pretty staunch gold bug for years now, especially with the crazy economic climate we've seen. My Gold IRA is a significant chunk of my portfolio, probably sitting around $300k of the $800k I'm managing. I've been focused on wealth preservation, as any good lawyer would be, and gold has always felt like the safest harbor. It's done well for me, especially over the last five years, keeping pace and then some.

Lately, though, I've been reading more about other precious metals, and palladium keeps popping up. I know it's had its moments, some pretty sharp climbs and falls. My initial reaction was "stick to what you know," but then I think about diversification. I'm in Philly, and while I keep an eye on global markets, I feel like I've got my head buried in the sand a bit when it comes to metals beyond gold and silver. I'm not looking to make a quick buck; again, it's about shoring up my retirement.

So, for those of you who have taken the plunge, how has palladium performed for you in your IRA? Are there specific types of palladium investments you'd recommend, or are there particular things to watch out for that are different from gold? I'm talking about the practicalities of it – storage, premiums, liquidity, all that good stuff.

I'm seriously considering allocating a smaller percentage, maybe 5-10% of my precious metals holdings, to palladium. But before I even talk to my IRA custodian, I wanted to get some real-world input. Is palladium genuinely a smart move for wealth preservation in an IRA, or am I just getting FOMO from reading too many articles? Any insights, personal experiences, or even strong arguments against it would be greatly appreciated. My goal is to ensure my family's financial security for the long haul, and that means being open to new ideas, even if I'm typically a creature of habit.

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8 comments

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Best Answer▲ 12 upvotes

brian_edwards🌟Ultra (5m+)

Just started my rollover process last month. The paperwork alone almost made me quit lol.

Comments (8)

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

Hey, I hear you on the gold bug thing! I was in a similar boat a few years back. All gold everything. Then I started looking into palladium and platinum for my IRA, and honestly, the diversification has been a good move for me. Not saying it's for everyone, but it definitely added another layer of stability when gold was doing its thing. Worth a deep dive into the pros and cons for sure!

brian_edwards🌟Ultra (5m+)Real Investor✓ Verified•about 2 months ago

What kind of yields are you seeing with your current Gold IRA holdings, if you don't mind me asking? Just curious how the gold-only strategy has been performing for you.

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

Honestly, while diversification is generally good, I'm not sure jumping into palladium is the move right now, especially with such a significant chunk of your retirement in PMs already. Gold's historical stability is really its main draw for an IRA, and palladium's industrial demand makes it a lot more volatile. Have you considered other asset classes for that diversification instead of just swapping one precious metal for another that's perhaps even more niche?

steven_mitchell🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

Hey, cool you're looking into diversifying! Palladium is definitely an interesting one. Just a heads-up, make sure any palladium you're considering for your IRA meets the IRS's fineness requirements (at least 99.95% pure). Some palladium bars/coins might not qualify.

You can find the full list of IRS-approved precious metals for IRAs on their site, or most reputable Gold IRA companies will have a list too. Good luck with your research!