Rolled over a chunk of my old 401k into a Gold IRA - anyone else seeing major shifts?

Steven Mitchell

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Rolled over a chunk of my old 401k into a Gold IRA - anyone else seeing major shifts?

steven_mitchell🏆Advanced (250-500k)

about 6 hours ago

Key Takeaways

•Honestly, I've been eyeing this for a while.
•Being in manufacturing, I just really value tangible assets.
•Stocks and bonds feel so...

The 3-step rollover process explained

Just finished up rolling over about $300k from my old 401k with my previous employer (left there about 18 months ago for a better gig here in Cleveland) into a Gold IRA. Honestly, I've been eyeing this for a while. Being in manufacturing, I just really value tangible assets. Stocks and bonds feel so... ethereal sometimes, you know? Especially with all the economic uncertainty floating around lately. Seemed like a no-brainer to get some real diversification.

The whole process was surprisingly smooth, not gonna lie. I'd heard horror stories about paperwork, delays, and hidden fees, but the company I went with (won't shill them here unless someone asks directly) was pretty on the ball. Took about 3 weeks from start to finish for the funds to clear and the gold to be purchased and secured. Felt a huge sense of relief when I got that final confirmation. It's not my entire retirement portfolio, obviously, but having a solid chunk in physical precious metals just sits better with me than having it all in equities right now.

My biggest motivation was honestly inflation protection and just having that hard asset backing. My parents went through some rough economic times, and they always hammered home the importance of not having all your eggs in one basket. Plus, interest rates on typical savings accounts are still a joke. What are others' thoughts on this move? Am I being overly cautious, or is this becoming a more common sentiment among people with decent-sized portfolios?

Anyone else from the Ohio area doing similar moves? Curious if local advisors are pushing this more or if it's just my own particular risk appetite. Also, for those who've done it, how do you generally feel about the performance long-term? I'm in for the long haul, planning to check in on it maybe once a quarter, but curious about others' experiences.

3 comments

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Best Answer▲ 8 upvotes

dorothy_lopez💰Established (100-250k)

That's a pretty significant move! While I totally get the appeal of tangible assets right now, especially with all the market fluctuations, I do wonder about putting such a large portion into one asset class, even if it's gold. Diversification is key for long-term growth, and while gold has its place, it doesn't typically provide income or dividends like some other investments. Just something to consider for the future, perhaps balancing with other asset types?

Comments (3)

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

Dude, I actually did something super similar last year! Not quite $300k, but a decent chunk from an old 401k. I was just getting increasingly antsy about the market volatility and the "tangible asset" thing really resonated with me too. It's been interesting to watch, for sure. How are you feeling about it now that it's done?

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

Congrats on the rollover! That's a pretty substantial chunk. When you say "major shifts," are you talking about the actual process of setting it up, or more about how you're feeling about your portfolio now that it's done?