Rolled over 401k to Gold IRA - question about storage fees

Sandra Green

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Rolled over 401k to Gold IRA - question about storage fees

sandra_green📊Growing (50-100k)

about 1 hour ago

Key Takeaways

•Okay, so I finally pulled the trigger on rolling over part of my 401k into a Gold IRA.
•Been thinking about it for ages, especially with all the craziness in the economy.
•My husband and I run a pretty big farm outside of Kansas City, and you just get used to tangible assets, you know?

See what your 401(k) could look like in gold

Okay, so I finally pulled the trigger on rolling over part of my 401k into a Gold IRA. Been thinking about it for ages, especially with all the craziness in the economy. My husband and I run a pretty big farm outside of Kansas City, and you just get used to tangible assets, you know? Paper money just feels… abstract. Anyway, I moved about $75k over last month with Red Rock Secure (anyone else use them?).

The whole process was smoother than I expected, honestly. But now I'm looking at the fee structure again, and I'm a bit confused about the storage fees. They're charging a flat annual fee, which seems alright, but then I see some companies advertise "segregated storage" and others just "commingled." Is there a big difference there that impacts costs or security? My metals are at the Delaware Depository, and they mentioned it's "allocated."

I just want to make sure I'm not overlooking anything crucial. With a smaller portfolio like mine (compared to some of the whales on here!), every little fee adds up over time. Am I overthinking the storage type, or is this something I should really dig into? What's your experience been with different storage options and their costs? Did any of you switch providers specifically because of storage fee differences?

Just trying to be a smart steward of our hard-earned money and make sure our future is as secure as possible. Any insights from those of you who've been doing this longer would be greatly appreciated!

4 comments

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Best Answer▲ 10 upvotes

elizabeth_johnson💰Established (100-250k)

Congrats on making the move! That's a big step. I'm curious, since you mentioned being outside KC, did you go with a local depository or one of the more national options? Just wondering what the local landscape for secure storage looks like.

Comments (4)

christopher_young🌟Ultra (5m+)Real Investor✓ Verified•less than a minute ago

Hey, I hear you on the tangible assets! My family's had a small ranch in Oklahoma for generations, so I totally get that mindset. I did a similar rollover a few years back and had the same question about storage fees. It definitely felt like an extra expense at first, but honestly, for the peace of mind knowing my gold is secured independently, it's been worth it for me. Hope your experience goes smoothly!

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

ronald_morris👑Elite (1m-5m)Real Investor•less than a minute ago

Hey, congrats on making the move! It's definitely a common path these days. I hear ya with the tangible assets – completely get that perspective, especially with farming.

My only thought, and it's just a different way to look at it, is that "paper money" (fiat currency) is still what you'll be using for most transactions, even if you eventually sell your gold. The fees and the spread on the buy/sell still eat into that "tangible" value, and it's not like you can pop down to the feed store and pay with a gold coin. Just something to consider for the long game, not saying it's a bad move at all!

margaret_chen🏆Advanced (250-500k)Real Investor•less than a minute ago

That's awesome you got your Gold IRA set up! Tangible assets just make sense sometimes, especially with everything going on.

Regarding storage fees, a lot of companies structure them differently. Some do a flat annual fee, others a percentage of your holdings. It's worth asking if they offer any discounts for larger holdings or if there are different tiers of storage (e.g., segregated vs. unsegregated) that have varying costs. Might save you a few bucks in the long run! This article could be helpful: How Gold IRAs Work: Fees and Risks.

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