Platinum IRA? Rolling over my 401k to Gold - my experience and question about platinum

Brian Edwards

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Platinum IRA? Rolling over my 401k to Gold - my experience and question about platinum

brian_edwards🌟Ultra (5m+)

about 3 hours ago

Key Takeaways

•I finally pulled the trigger on rolling over a big chunk of my old 401k into a Gold IRA.
•We're talking seven figures from a couple of old employer plans, totally north of $2.5M.
•The market's been wild, and honestly, with all the volatility, I just felt a lot more comfortable having some real assets.

The 3-step rollover process explained

I finally pulled the trigger on rolling over a big chunk of my old 401k into a Gold IRA. We're talking seven figures from a couple of old employer plans, totally north of $2.5M. The market's been wild, and honestly, with all the volatility, I just felt a lot more comfortable having some real assets. I'm heavy in real estate development here in Aspen, and I've always liked the tangibility of property and precious metals. This move feels like a natural extension of that philosophy for my retirement savings.

The rollover process itself was surprisingly smooth. I worked with a firm that specialized in precious metals IRAs, and they handled almost everything. It took about three weeks from first contact to actually seeing the gold held at Brinks. The biggest hurdle was tracking down the right paperwork from my ancient 401k plans – one was from a company I left over 15 years ago. But once that was sorted, it was pretty painless. They walked me through selecting the specific gold coins and bars, and I diversified across American Gold Eagles and some PAMP Suisse bars. I even threw in some silver, though not a huge percentage.

Now, here's my question for you all. I’ve been reading more about Platinum IRAs. My current provider didn't push it too hard when I did the initial rollover, but I'm intrigued by the industrial demand and potential upside there. Does anyone here have significant holdings in a Platinum IRA? What's your take on it as a diversification play alongside gold and silver? Is it a good long-term hold, or more for shorter-term gains? I’m 58, so thinking about the next 10-15 years until I really start pulling from these accounts. Speaking of that, has anyone used an RMD Calculator like the one on goldirablueprint.com’s RMD Calculator? I input my info there the other day and it gave me a clearer picture of what I’ll need to start taking out down the line. It's an interesting exercise to run those numbers and see the impact.

I’m always looking to refine my strategy, especially with the kind of capital we’re talking about here. Any insights on Platinum IRAs, or even general thoughts on managing a large precious metals IRA as you approach RMD age, would be greatly appreciated.

4 comments

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Best Answer▲ 9 upvotes

jennifer_martinez💰Established (100-250k)

Hey, that's a huge move, congrats on getting it done! Seven figures is no joke, sounds like you're seriously diversified now.

Regarding platinum, it's definitely an interesting one. One thing I'd recommend checking out, especially since you're already in the precious metals game, is the IRS's guidelines for what's actually allowed in a Precious Metals IRA. It's really specific about purity and form for each metal. Sometimes what you think is eligible might not be! Here's a handy link to their publications on IRAs: https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras-what-you-need-to-know

Comments (4)

william_davis💎Premium (500k-1m)Real Investor•less than a minute ago

Hey, that's awesome you pulled the trigger! I hear you on the market being wild. I did a similar rollover last year, though not quite seven figures, haha. My advisor actually brought up platinum too, mainly as a smaller diversification play. I ended up sticking to just gold and silver for now, but it's definitely something I've kept in the back of my mind. What did your advisor say about it?

helen_turner💰Established (100-250k)Real Investor•less than a minute ago

Whoa, seven figures is a serious chunk of change! Congrats on making the move. Can I ask, did you consider a silver IRA at all, or was gold always your top choice for the rollover?

betty_king📊Growing (50-100k)•less than a minute ago

Interesting move with the gold, but honestly, platinum as a primary IRA metal always felt a bit... niche, compared to gold and silver. It's got industrial demand, sure, but the market's much smaller and more volatile. For a substantial rollover like yours, a diversified approach within precious metals (if that's your goal) might be more prudent than putting too much faith in platinum's long-term IRA performance. Just my two cents, of course!

jennifer_martinez💰Established (100-250k)Real Investor✓ Verified•less than a minute ago

Hey, that's a huge move, congrats on getting it done! Seven figures is no joke, sounds like you're seriously diversified now.

Regarding platinum, it's definitely an interesting one. One thing I'd recommend checking out, especially since you're already in the precious metals game, is the IRS's guidelines for what's actually allowed in a Precious Metals IRA. It's really specific about purity and form for each metal. Sometimes what you *think* is eligible might not be! Here's a handy link to their publications on IRAs: https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras-what-you-need-to-know

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