Rolling over my 401k to a Gold IRA - physical vs. paper dilemma, what's your take?

• •Alright, so I'm finally getting around to rolling over the bulk of my old 401k from a previous gig into a Gold IRA.
• •The market's been giving me hives for months, and honestly, the thought of diversifying a solid chunk into something tangible just feels right.
• •You know, less digital smoke and mirrors, more actual wealth preservation.

Alright, so I'm finally getting around to rolling over the bulk of my old 401k from a previous gig into a Gold IRA. The market's been giving me hives for months, and honestly, the thought of diversifying a solid chunk into something tangible just feels right. You know, less digital smoke and mirrors, more actual wealth preservation. Currently sitting on a portfolio north of $3M, but the 401k piece is a decent chunk I want to allocate specifically to precious metals. For context, I'm Greenwich-based, dealing with the daily grind of hedge fund management, and I've always had a small personal allocation to physical, but this is a much larger play.

Here's the rub: I'm torn between opting for entirely physical gold within the IRA (actual bars/coins stored in an authorized depository) versus some form of "paper gold" – think ETFs like GLD or IAU, or even futures. I know the purists will scream physical, and I get the appeal; direct ownership, no counterparty risk (beyond the depository itself). But there's also the liquidity argument for ETFs, potentially lower storage fees, and ease of trading. My primary goal here is long-term wealth protection and a hedge against inflation/market instability, not short-term speculative gains.

I'm leaning towards a significant allocation to physical, maybe 70-80%, with a smaller component in an ETF for potential tactical plays or just to keep some liquid exposure without the logistics. Has anyone here gone through a similar decision process for a large rollover? What were your deciding factors? Did you regret going full physical or wished you'd done more paper, or vice versa? I'm particularly interested in tales from those who've done this with substantial amounts, not just a few thousand bucks.

My existing personal physical gold is securely stored, but managing another large batch for an IRA adds a layer of logistical consideration. Any recommendations on depositories that have been particularly secure and transparent for larger allocations? Also, for those who've used the "paper" route, what's your take on the actual convertibility or the underlying asset integrity? I know the arguments, but real-world experiences are always more valuable than prospectus jargon.