Rollover took longer than expected?
- β’Just finished up a direct rollover from an old 401k into a Gold IRA, and man, that felt like watching paint dry.
- β’Everyone always talks about how simple and quick these things are, but my experience was anything but.
- β’I initiated the process about six weeks ago, transferring roughly $350k from a 401k Iβd had since my mid-20s.
Just finished up a direct rollover from an old 401k into a Gold IRA, and man, that felt like watching paint dry. Everyone always talks about how simple and quick these things are, but my experience was anything but. I'm sitting here in Birmingham, pretty heavily invested in the metals game already given my background in steel β I know commodities, and I definitely know waiting on supply chains β but this was a different beast altogether.
I initiated the process about six weeks ago, transferring roughly $350k from a 401k Iβd had since my mid-20s. The advisor at the Gold IRA company said 2-3 weeks, tops, for everything to clear and the physical gold to be purchased and allocated. I figured, okay, a little buffer, maybe a month. But here we are, pushing into the seventh week, and while the funds finally hit their account last week, I'm still waiting on confirmation that the specific bars have been secured and shipped to the depository. Is this normal these days?
Maybe itβs just me, being a bit impatient after dealing with the constant push and pull of the steel market for so long. Or maybe my expectations were just out of whack from all the "easy rollover" advertising. For any of you who've done this recently, especially with a direct rollover, did you experience similar delays? Was it the old 401k provider dragging their feet, or is the demand for physical gold causing longer fulfillment times at the IRA custodian end? Just trying to gauge if my experience is an outlier or if the timeline estimates are just generally optimistic.
Thanks for any insights.