Rolled over my 401K and went for silver in my Gold IRA

Karen Robinson

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Rolled over my 401K and went for silver in my Gold IRA

karen_robinson💼Starter (0-50k)

about 11 hours ago

Key Takeaways

•Finally pulled the trigger on rolling over my old 401K!
•Been meaning to do it for ages.
•As a teacher here in Columbus, every dollar counts, and I'm really trying to be smart about this for the long haul.

The 3-step rollover process explained

Finally pulled the trigger on rolling over my old 401K! Been meaning to do it for ages. It's not a huge amount, just under $25k, but it felt good to get it into something I understand a bit better than the market fluctuations going on right now. As a teacher here in Columbus, every dollar counts, and I'm really trying to be smart about this for the long haul.

My initial thought was just to go 100% gold, because, well, it's a Gold IRA, right? But after doing a bunch of reading and talking to some folks, I ended up putting about 20% of it into silver. I know gold is the traditional safe haven, but silver just seemed to make a lot of sense too. It's a bit more volatile, sure, but the industrial demand aspect really resonated with me. Plus, it's a lower price point, so I felt like I was getting more bang for my buck in terms of physical ounces. It's kinda exciting to think about holding something tangible after years of just seeing numbers on a screen.

Anyone else here decide to include silver in their Precious Metals IRA? What was your reasoning? Did you go with a similar split or something different? I'm still super new to all of this and feeling my way, so any insights would be awesome. Just wondering if I made a smart move for someone with a relatively small portfolio like mine.

5 comments

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Best Answer▲ 10 upvotes

jason_morgan💰Established (100-250k)

Hey, that's awesome you got that rollover done! Curious, when you say you "went for silver," did you allocate the entire $25k to physical silver, or was it a mix with some gold as well? Just wondering about the exact breakdown for your precious metals.

Comments (5)

patricia_miller📊Growing (50-100k)✓ Verified•less than a minute ago

Nice! Seriously contemplating doing something similar. I've got an old 403b from my first teaching job that's just been sitting there, and the market lately has me a bit antsy. Hearing you went for silver is interesting. I was leaning towards gold, but maybe I need to look into silver more. Good for you getting it done!

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

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

That's awesome you're taking control! Diversifying is always smart. I gotta ask though, given the title, why'd you go for silver and not gold for your "Gold IRA"? Was there a specific reason or just preferred silver's current price point?

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

That's awesome you got that rollover done, especially with the market being so wild! Silver's a solid choice, and it's great you feel more comfortable with your investments now. Just a heads up, with Precious Metals IRAs, sometimes people overlook the storage fees. Make sure you've got a clear understanding of those, as they can vary between custodians. Here's a decent article that breaks down some of the common fees to watch out for: https://www.investopedia.com/articles/personal-finance/032615/gold-iras-what-are-fees.asp

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

Totally agree with this! Made a similar move with my old govt pension a few years back. Not a huge sum either (around $30k) but it’s nice to have some of that safely tucked away in metals rather than stressing about the stock market. Good call on the silver too!

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