Rollover to Gold IRA taking forever - anyone else?

Catherine Bell

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💠 Palladium IRA

Rollover to Gold IRA taking forever - anyone else?

catherine_bell🏆Advanced (250-500k)

about 2 months ago

Key Takeaways

•Seriously, this rollover from my old 401k into a precious metals IRA is moving at a snail's pace.
•I've got a decent portfolio, probably sitting around $350k right now, and I was planning on moving about $100k of that into palladium and some gold.
•I'm based in Spokane, so I'm dealing with a local advisor, but it still feels like they're dragging their feet.

The 3-step rollover process explained

Seriously, this rollover from my old 401k into a precious metals IRA is moving at a snail's pace. I initiated the process about six weeks ago, specifically looking to allocate a good chunk into palladium given the supply constraints and industrial demand. My family has been in timber forever, and we've always understood tangible assets, so getting more into physical metals for long-term wealth preservation just makes sense. I've got a decent portfolio, probably sitting around $350k right now, and I was planning on moving about $100k of that into palladium and some gold. I'm based in Spokane, so I'm dealing with a local advisor, but it still feels like they're dragging their feet.

The initial paperwork felt like it took ages to get sorted, and now it's been radio silence for what feels like an eternity after they confirmed the funds were being transferred from the old custodian. Is this normal for a direct rollover? I’m thinking about calling my old 401k provider directly to see if they can shed some light on the hold-up, but I don’t want to mess up the process if it's just a standard waiting game. I’m used to things moving a bit quicker, especially when you’re talking about this kind of capital.

Historically, my family has always been about long-term plays, and that's exactly what I'm doing here, looking at generational wealth. But watching the market fluctuate while my money is in limbo is getting a little frustrating. The whole point was to get these funds into a more secure, tangible asset and out of the paper game. For those of you who’ve done a 401k to gold/palladium IRA rollover, what was your experience with the timeline? Am I being impatient, or should I be pushing harder?

Any insights, especially regarding palladium-focused IRAs, would be greatly appreciated. Just trying to figure out if I need to light a fire under someone or if this is just the nature of the beast. Thanks in advance for any advice!

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5 comments

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Best Answer▲ 9 upvotes

betty_king📊Growing (50-100k)

Ugh, that's incredibly frustrating, six weeks is a long time to be stuck in limbo! While every company has different timelines, sometimes a nudge with the right info can help. Have you tried asking your Gold IRA provider for the direct contact for their custodian's rollovers department? Often, the custodian is the bottleneck, and getting a direct line to them can sometimes speed things up or at least get you a clearer timeline. Good luck, hope it gets sorted soon!

Comments (5)

james_wilson👑Elite (1m-5m)Real Investor✓ Verified•about 2 months ago

Ugh, tell me about it. I had a similar experience with a direct transfer from an old Roth. It wasn't even a full rollover, just moving funds, and it still felt like pulling teeth. Took way longer than they initially quoted, and I was just trying to get some silver in there. Hopefully, yours speeds up soon!

gary_stewart📊Growing (50-100k)•about 2 months ago

Six weeks is definitely a long time, particularly when you're trying to take advantage of market movements. You mentioned wanting to allocate a good chunk to palladium – did your custodian advise on specific percentages or just go with whatever you asked for?

laura_sanchez💰Established (100-250k)Real Investor✓ Verified•about 2 months ago

Six weeks does sound like a bit of a drag, especially when you're keen on a specific asset like palladium. But honestly, for an IRA rollover involving physical precious metals, that sometimes *is* the snail's pace. It's not like a stock transfer where it's all digital. There's usually a fair bit of paperwork, coordination between custodians, and then the actual sourcing and shipping of the physical metal. I wouldn't be surprised if some of that delay is just the standard process for palladium given it's not as common as gold/silver, especially if you're looking for specific weights or refiners. Hope it clears soon for you though!

betty_king📊Growing (50-100k)•about 2 months ago

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

Ugh, tell me about it. I'm going through something similar with a silver IRA. It's been almost two months since I started the rollover from my old Roth 401(k), and it feels like I'm constantly chasing them for updates. You'd think with the fees they charge, they'd be a bit more efficient!

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