Rolled over a chunk of my old 401k into a Gold IRA - thoughts on silver coins for the rest?
- •Finally bit the bullet and rolled over about $150k from my old employer's 401k into a Gold IRA.
- •Had it sitting there doing...
- •well, not much exciting.
Finally bit the bullet and rolled over about $150k from my old employer's 401k into a Gold IRA. Had it sitting there doing... well, not much exciting. My financial advisor (who mostly helps me keep the horse farm books straight, honestly) suggested looking into it as a hedge, especially with all the talk about inflation and the general weirdness of the market lately. The process itself was pretty straightforward, surprisingly. Once I picked a custodian, they handled most of the grunt work with the old 401k administrator. Took about four weeks from start to finish to see the gold bars show up in my account statement.
I'm feeling pretty good about having a portion of my portfolio in something tangible. It's not about getting rich overnight, but more about preserving some wealth. We've had a good run with the farm, and while I'm not exactly counting my pennies, I'm also practical about money. You don't get through a few tough seasons without learning to be. Anyway, I still have another $50k or so in that old 401k that I'm considering rolling over as well, and I'm wondering if dipping into silver coins for that portion makes sense.
I've been looking at some of the options for IRA-approved silver, and the coins seem interesting. I know silver's more volatile than gold, but it's also a lower price point per unit, which feels like it might give me a bit more flexibility down the line. Plus, there's something appealing about having actual coins vs. just more bars. Anyone here have experience with silver coins in their Gold IRA? Any specific types you prefer, or things to watch out for beyond the usual dealer markups? Being here in Louisville, it's not like I have a ton of local shops to just browse around, so relying a lot on online info.