Question about storage fees for gold IRA
- •Been seeing a lot of chatter lately on here about storage fees for gold IRAs, and it's got me thinking.
- •I've had my gold IRA for over 20 years now, pretty much since the late 90s, when I was still wrenching on the line at Ford out in Sterling Heights.
- •I'm retired now, thankfully, and my portfolio is somewhere between $500k and $1M, with a good chunk of that still in gold.
Been seeing a lot of chatter lately on here about storage fees for gold IRAs, and it's got me thinking. I've had my gold IRA for over 20 years now, pretty much since the late 90s, when I was still wrenching on the line at Ford out in Sterling Heights. I'm retired now, thankfully, and my portfolio is somewhere between $500k and $1M, with a good chunk of that still in gold. My custodian (who I won’t name here, but they’re one of the bigger ones) has always seemed fair with their fees, and I factored them into my long-term strategy from day one.
My question is, for those of you with significant holdings, how much "vigilance" do you put into checking custodian fees? I mean, I get the annual statements, glance at them, and if they're roughly what I expect, I move on. Never seen a drastic jump or anything that's made me want to pull my hair out, but then again, my strategy has always been buy and hold. I don't trade it, I don't look at it daily. It's just a core part of my retirement safety net, a hedge against the crazy stuff we've all seen happen with the dollar over the decades, especially growing up in Michigan through all the auto industry ups and downs.
I guess I'm wondering if I'm being too complacent. Are there hidden charges I should be looking out for, or tricks custodians might pull? Is it worth switching custodians just to save a few basis points on storage, especially when you've been with one for over two decades and trust them? The hassle factor of moving that kind of money, even just paperwork-wise, seems like a nightmare.