Rolled over my old 401k to a Gold IRA - A Madison perspective

Timothy Reed

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Rolled over my old 401k to a Gold IRA - A Madison perspective

timothy_reed💎Premium (500k-1m)

about 2 months ago

Key Takeaways

•Finally pulled the trigger on rolling over a decent chunk of my old 401k into a Gold IRA.
•Been thinking about it for a while, especially with all the talk about inflation and the market feeling a bit squirrely lately.
•Figured it was time to put some of that into something a bit more tangible.

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Finally pulled the trigger on rolling over a decent chunk of my old 401k into a Gold IRA. Been thinking about it for a while, especially with all the talk about inflation and the market feeling a bit squirrely lately. Had about $350k sitting in a traditional 401k from my dairy plant days – mostly mutual funds and some company stock that I diversified out of years ago. Figured it was time to put some of that into something a bit more tangible. The process itself wasn't as bad as I thought it'd be, but there were definitely a few speed bumps.

I went with Augusta Precious Metals after doing a lot of research (and watching a fair bit of YouTube, gotta admit). Their customer service was a big draw; felt like I was talking to a real person, not just some sales robot. The transaction took a little over three weeks from start to finish. The biggest hold-up was actually getting my old 401k provider to release the funds. They asked for a ridiculous amount of paperwork, almost like they didn't want me taking my money out. Had to make a few calls and get kind of firm, which isn't really my style, but sometimes you just gotta do it.

Ended up allocating about 60% of that rollover into American Gold Eagles and 40% into Canadian Gold Maples. Just felt right. Like a physical anchor in the portfolio. Being from Wisconsin, you appreciate anything that's built to last, and gold feels that way. My big question for y'all is, for those who've done this, what percentage of your overall portfolio did you decide to put into precious metals? I'm sitting around 15-20% now, including some silver I've had for years, and wondering if that's a good spot or if I should consider more down the line. It's a big decision, and I'm always open to hearing different perspectives.

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5 comments

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Best Answer▲ 14 upvotes

helen_turner💰Established (100-250k)

This mirrors what I've been seeing too. The macro environment right now is making a strong case for physical metals.

Comments (5)

donna_rogers🏆Advanced (250-500k)Real Investor•about 2 months ago

Oh man, I hear you! I did something similar a few years back with an old 401k from a teaching job. Not nearly as much as your dairy plant days, haha, but still felt good to diversify. That market squirreliness is exactly what got me thinking too. Glad to know others are making the move!

maria_campbell📊Growing (50-100k)✓ Verified•about 2 months ago

Hey, that's awesome you finally made the move! I've been considering doing something similar. Quick question though: you mentioned your old 401k was "mostly mu" – did you mean mutual funds? And if so, were there any specific types of mutual funds that made the rollover process more complicated or straightforward than you expected?

kenneth_parker💎Premium (500k-1m)Real Investor✓ Verified•about 2 months ago

Hey, glad it worked out for you! Definitely get the inflation concerns. But, just playing devil's advocate here, how are you feeling about the potential for capital gains tax down the line? Gold can be great for wealth preservation, but if you're looking for significant growth to actively fund retirement, there are often more tax-efficient avenues compared to physically held gold upon liquidation, especially if you're pulling from a traditional 401k. Just something to keep in mind!