Rolling over to Gold - Roth vs. Traditional? What's everyone doing?

Sandra Green

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Rolling over to Gold - Roth vs. Traditional? What's everyone doing?

sandra_green📊Growing (50-100k)

about 2 months ago

Key Takeaways

•So, we're finally getting serious about shoring up our retirement savings.
•We've got a not-insignificant chunk in a couple of old 401(k)s from when my husband worked at the elevator and I was doing bookkeeping for the co-op.
•We're looking at rolling over about $75,000 into a Gold IRA.

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So, we're finally getting serious about shoring up our retirement savings. We've got a not-insignificant chunk in a couple of old 401(k)s from when my husband worked at the elevator and I was doing bookkeeping for the co-op. We're looking at rolling over about $75,000 into a Gold IRA. The whole idea of having something real just sits better with me, a farmer's wife in Kansas City, than all those digital numbers bouncing around. I've been reading up on it, and it feels right given everything going on in the world.

My big question for y'all, though, is the Roth vs. Traditional Gold IRA decision. We're in our early 50s, so retirement isn't that far off, but not right around the corner either. With the Traditional, we get the tax break now, which is tempting. But with the Roth, no taxes when we pull it out later, which also sounds pretty sweet. My husband thinks taxes are only going to go up, so the Roth might be the smarter play long-term. I'm not so sure – a bird in the hand, you know?

Has anyone here faced this same dilemma with their gold rollover? What did you decide and why? Are there any hidden pros or cons I'm not thinking about? Our financial advisor (who, bless her heart, is still a little skeptical about gold of all things but is helping us nonetheless) gave us the basic run-down, but I value hearing from folks who actually have gold IRAs. I also found this Gold IRA Quiz online that was pretty helpful for understanding the basics, maybe it'll help someone else too if they're just starting out.

Any insights, experiences, or even just what you're leaning towards would be super helpful. Trying to make the best decision for our future here in the heartland!

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5 comments

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Best Answer▲ 11 upvotes

timothy_reed💎Premium (500k-1m)

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Comments (5)

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

Hey, totally get where you're coming from! We faced the same dilemma a couple of years ago with a similarly sized chunk from an old 401k. Ended up going with a Traditional Gold IRA mainly because we were still in a higher earning bracket and figured the tax deduction now made more sense for us. The tax-free withdrawals in retirement are nice too, of course, but the immediate deduction was a big draw. Good luck with your decision!

susan_clark💰Established (100-250k)Real Investor•about 2 months ago

Hey, that's a solid amount to roll over! Out of curiosity, what are the fees looking like for the storage and insurance with the Gold IRA? Is it a flat fee or a percentage of the assets?

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

Interesting discussion! While rolling into a Gold IRA can definitely add diversification, I'd also be curious about the *percentage* of your total retirement savings this $75k represents. Going all-in on one asset class, even gold, might be a bit concentrated for some people's risk tolerance, especially thinking about long-term growth vs. preservation of capital. Have you guys looked at how gold has performed during different economic cycles compared to other asset classes you might consider?

timothy_reed💎Premium (500k-1m)Real Investor•about 1 month ago

I was pretty skeptical about another gold IRA forum but the tools here on GIRAB actually surprised me — the calculator alone saved me hours of spreadsheet work.