Thinking about platinum for my IRA – anyone else considering it?

Betty King

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Thinking about platinum for my IRA – anyone else considering it?

betty_king📊Growing (50-100k)

about 1 month ago

Key Takeaways

•I've been going down a bit of a rabbit hole lately, really researching ways to diversify my Gold IRA beyond just, well, gold.
•Our portfolio is sitting comfortably between $70-80k right now, mostly in gold and a few other precious metals.
•We’re in Raleigh, and the thought of inflation just really gnaws at me.

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I've been going down a bit of a rabbit hole lately, really researching ways to diversify my Gold IRA beyond just, well, gold. My late husband was so meticulous with our investments, and now that it's just me handling everything, I feel this immense pressure to protect what he worked so hard for. Our portfolio is sitting comfortably between $70-80k right now, mostly in gold and a few other precious metals. We’re in Raleigh, and the thought of inflation just really gnaws at me.

Lately, platinum has caught my eye. The price has been pretty low compared to gold for a while now, and I'm wondering if it's currently undervalued. From what I understand, platinum has industrial uses, especially in catalytic converters, which could see demand pick up as the auto industry rebounds or shifts towards hydrogen fuel cells. But then there’s the whole EV push, and that uses less platinum, so it feels like a double-edged sword. Has anyone here added platinum to their IRA recently? What's your take on its long-term potential?

I’ve been using tools like the Gold vs Stocks Comparison to understand historical performance, which is great for gold, but it's hard to find a similar, straightforward comparison for platinum that fully captures all the nuances. I mean, gold is gold, everyone understands that as a safe haven. Platinum feels a bit more… speculative maybe? My financial advisor is a bit neutral on it, saying it depends on my risk tolerance, which isn't exactly a definitive answer.

I'm not looking to move a huge chunk, maybe 10-15k into it if it makes sense. I just want to make sure I'm making informed decisions, honoring my husband's legacy. Any thoughts or experiences with platinum in an IRA would be so helpful. Am I just overthinking this, or is there a genuine opportunity here?

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18 comments

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Best Answer▲ 17 upvotes

joseph_harris📊Growing (50-100k)

Been looking into this myself — the fees on some of these custodians are wild. Anyone found one that doesn't gouge you?

Comments (18)

helen_turner💰Established (100-250k)Real Investor•about 1 month ago

Totally get the desire to diversify, especially with the added pressure you're feeling. But honestly, while platinum has its moments, I tend to view it as more volatile than gold or even silver for an IRA. It's got those industrial ties that can make its price a bit more unpredictable. Have you looked much into the historical price stability of platinum compared to gold? Just something to consider before making a big switch.

sharon_evans💰Established (100-250k)Real Investor•about 1 month ago

Hey, this is a super interesting thought! I've mostly heard about platinum for industrial use, not so much in an IRA. When you say you're "diversifying beyond gold," are you thinking of platinum as more of a hedge like gold, or are you looking at it for its potential growth due to increased industrial demand?

gary_stewart📊Growing (50-100k)•about 1 month ago

Totally get this! My dad got me into precious metals for my IRA, and I initially just went with gold. But after seeing how much he was diversifying, I started looking into platinum too. It’s definitely an interesting option, especially with the industrial demand. I’m still weighing the pros and cons, but it's good to know others are considering it too!

sharon_evans💰Established (100-250k)Real Investor•about 1 month ago

Hey there! Sounds like you're doing a great job managing things, that's a lot to take on. Platinum is definitely an interesting option for diversification.

My tip would be to really dig into the supply/demand dynamics for platinum. It's got industrial uses similar to palladium, but also significant jewelry demand. Sometimes understanding the ins and outs of those markets can give you a better feel for its price movements. The World Platinum Investment Council (WPIC) often publishes some pretty detailed reports that are worth checking out if you want to go deeper!

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

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

linda_taylor📊Growing (50-100k)✓ Verified•about 1 month ago

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

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

Been looking into this myself — the fees on some of these custodians are wild. Anyone found one that doesn't gouge you?

diane_bailey💰Established (100-250k)Real Investor•about 1 month ago

Interesting take. I've heard the opposite from a few people though — would love to see some actual numbers on this.

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maria_campbell📊Growing (50-100k)✓ Verified•about 1 month ago

Been looking into this myself — the fees on some of these custodians are wild. Anyone found one that doesn't gouge you?

margaret_chen🏆Advanced (250-500k)Real Investor•about 1 month ago

My advisor told me 10-15% in gold is the sweet spot but I went heavier. We'll see how it plays out.

janet_cook📊Growing (50-100k)•about 1 month ago

Ngl I came here expecting the usual affiliate spam but the discussions are actually decent. Way better info than what I was getting from my old advisor.

dorothy_lopez💰Established (100-250k)Real Investor•about 1 month ago

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

richard_garcia👑Elite (1m-5m)Real Investor•about 1 month ago

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

donna_rogers🏆Advanced (250-500k)Real Investor•about 1 month ago

Interesting take. I've heard the opposite from a few people though — would love to see some actual numbers on this.

ashley_baker💼Starter (0-50k)✓ Verified•about 1 month ago

I was pretty skeptical about another gold IRA forum but the tools here on GIRAB actually surprised me — the calculator alone saved me hours of spreadsheet work.