Platinum IRA for the grandkids? Has anyone here done it?

Richard Garcia

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🔲 Platinum IRA

Platinum IRA for the grandkids? Has anyone here done it?

richard_garcia👑Elite (1m-5m)

about 2 months ago

Key Takeaways

•Been thinking a lot lately about leaving something meaningful behind, beyond just the Houston real estate portfolio and the oil & gas stock picks.
•My kids are doing well enough on their own, honestly, but my grandkids – that's a different story.
•They're still young, and the world they're growing into feels a lot less stable than the one I retired from back in '08.

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Been thinking a lot lately about leaving something meaningful behind, beyond just the Houston real estate portfolio and the oil & gas stock picks. My kids are doing well enough on their own, honestly, but my grandkids – that's a different story. They're still young, and the world they're growing into feels a lot less stable than the one I retired from back in '08. Been considering setting up some kind of platinum IRA for them, or maybe a trust that holds physical platinum. I’ve held a substantial amount of gold in my own IRA for years, probably close to 15% of my overall 2.5 million dollar portfolio, and it’s been a bedrock through all the market craziness. Figured platinum might be an interesting diversification for them down the line, given its industrial uses and relative scarcity compared to gold.

My concern is the logistics and the tax implications. I want this to be as straightforward as possible for them to inherit or access when they're older, without being a huge headache. A Platinum IRA seems like it could work, but how do you structure it so it truly benefits them long-term? Is it better to set up individual IRAs for them that I fund, or create a trust that then invests in platinum? I’ve heard whispers about "generational wealth transfer" with precious metals but haven't seen specific examples for platinum. Part of me just wants to buy a bunch of platinum coins and store them in my vault, but then my estate has to deal with that, and I'd really rather not add extra steps.

I know a few of you folks here are pretty sophisticated with your precious metals holdings, some even more so than my old financial advisor (no offense to him, he’s great with traditional assets). What are your experiences or recommendations when it comes to setting up a long-term platinum holding vehicle for younger beneficiaries? Have any of you done this for your own grandkids? What were the pitfalls, and what went surprisingly smoothly? I’m particularly interested in managing potential probate issues and ensuring that the platinum itself is held securely and transparently for their benefit years down the road. Any insights from those who've navigated this would be incredibly helpful.

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8 comments

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Best Answer▲ 16 upvotes

dorothy_lopez💰Established (100-250k)

Platinum is tricky. I looked into it for my own portfolio a couple of years back here in Vegas, but the spread seemed way wider than gold or even silver from the dealers I was talking to. You'd really need to nail the timing on entry and exit to make it work, more so than with the other metals.

Comments (8)

catherine_bell🏆Advanced (250-500k)Real Investor•about 2 months ago

Hey, this is a cool idea! I actually did something similar, though not with platinum. My grandpa set up a small gold IRA for me when I was a teenager, and honestly, looking back, it was such a thoughtful gift. It wasn't about getting rich quick, but more about having that long-term, stable asset. Made me think about finances differently early on. Your grandkids would probably appreciate something like that immensely.

helen_turner💰Established (100-250k)Real Investor•about 2 months ago

Hey, that's a really thoughtful idea. A platinum IRA for the grandkids sounds pretty innovative. Just curious, when you say "platinum IRA," are you referring specifically to physical platinum coins/bars within an IRA, or a more general precious metals IRA that happens to include platinum?

james_wilson👑Elite (1m-5m)Real Investor✓ Verified•about 2 months ago

Hey, I hear you on wanting to leave a legacy, especially for the grandkids. That's a noble thought. But honestly, a platinum IRA? While the idea of metals is cool, platinum can be a pretty volatile beast compared to gold or even silver.

If the goal is really about long-term stability and a more "sure thing" for the grandkids, focusing on gold might be the less speculative play. Platinum has its moments, but for a multi-decade horizon for kids, gold often feels like the safer anchor in a portfolio. Just my two cents, especially when thinking about a true generational wealth transfer.

matthew_murphy👑Elite (1m-5m)Real Investor•about 2 months ago

This is a sweet idea! Definitely a thoughtful way to set them up for the future. Just a heads up, while you can hold platinum in a precious metals IRA, "Platinum IRA" isn't a separate *type* of IRA like a Traditional or Roth. It'd simply be a self-directed IRA that allows for physical platinum.

You might find this guide helpful for understanding the ins and outs of including platinum in a precious metals IRA: https://www.investopedia.com/gold-ira-7489222 (it covers platinum too!). Good luck!

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

Totally get where you're coming from with the grandkids! My initial thought was Gold, but after looking into it, we also decided to go with a Platinum IRA for our grandson. The lower price point per ounce made it a bit easier to get started, and frankly, the industrial demand just seems like a solid bet for the future. Always good to diversify, right?

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

Platinum for grandkids, huh? That's an interesting one. I've only just started looking beyond gold myself, mostly because of some of the conversations on GIRAB, frankly. I’m thinking about silver for my niece’s 529, but platinum feels a bit… fringe for that long term, especially for someone so young. I pulled the trigger on gold for my own IRA back in 2020 after the market got wonky, just a modest $60k to start, and it’s been a steady eddy compared to the rollercoaster of my stock portfolio. Platinum’s volatility, even compared to gold, just makes me nervous for a multi-decade play like a grandkid’s future. Have you looked at its historical performance against gold and silver during recessionary periods? That’s always my starting point.

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

Platinum and grandkids is an interesting thought, definitely something to consider for long-term growth. I decided to stick with gold and silver for my own IRA, feeling a bit more secure with their historic performance. For me, seeing the numbers laid out really helps with those kinds of decisions. I actually found a pretty useful tool right here on GIRAB, the Silver vs Stocks comparison at https://silvervsstocks.goldirablueprint.com/?period=10Y. It breaks down how silver has performed against the stock market over different periods, and it was a big factor in my decision to diversify a good chunk of my portfolio into physical silver. Might give you some perspective on platinum's potential stability.