Rollover took way longer than expected - normal?

Mark Adams

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Rollover took way longer than expected - normal?

mark_adams👑Elite (1m-5m)

less than a minute ago

Key Takeaways

•Just went through a 401k to Gold IRA rollover, and honestly, the timeline was a bit of a head-scratcher.
•My firm's HR department seemed to be moving at aglacial pace, and it felt like pulling teeth getting the funds released.
•I initiated the process about two months ago, and the actual physical gold just arrived in the vault last week.

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Just went through a 401k to Gold IRA rollover, and honestly, the timeline was a bit of a head-scratcher. My firm's HR department seemed to be moving at aglacial pace, and it felt like pulling teeth getting the funds released. I initiated the process about two months ago, and the actual physical gold just arrived in the vault last week. I was expecting something a little quicker, maybe 3-4 weeks max, given I’m dealing with a pretty straightforward direct rollover from a pretty standard 401k plan at a major institution. Is this extended timeline typical these days for a seven-figure transfer?

I mean, I'm happy it's all squared away now. The peace of mind knowing a good chunk of my retirement is outside the volatile equity markets is huge, especially with all the talk about inflation and economic headwinds. I'd allocated about 10% of my overall portfolio to precious metals, and this IRA is a big part of that. Living in Greenwich, you see a lot of wealth managers pushing all sorts of exotic strategies, but sometimes the old ways are the best, right?

I used the Gold IRA Calculator at https://calculator.goldirablueprint.com/ to get a rough idea of what my potential returns could look like over a few decades, assuming a modest appreciation. It was pretty helpful in solidifying my decision to move forward, even with the initial friction.

So, for those who've done this recently, what were your timelines like? Any tips for speeding things up if I decide to roll over another chunk later down the line? Or is it just a "grin and bear it" kind of situation?

4 comments

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Best Answer▲ 9 upvotes

janet_cook📊Growing (50-100k)

Hey, I hear you on the HR speed, that can definitely be a bottleneck. But two months from initiation to physical gold in your possession actually sounds pretty good, especially for a direct rollover involving physical assets. I've heard stories that stretch to four or five months for some folks. Was it the HR part that took the bulk of that, or was there a long wait on the custodian/dealer side too?

Comments (4)

joseph_harris📊Growing (50-100k)•less than a minute ago

Totally feel this! I had a very similar experience with my last 401k rollover, though it wasn't even to a Gold IRA. Just a regular old Roth conversion. My old employer's HR department seemed to think "urgency" was a brand of coffee. Took almost 3 months for the funds to actually hit the new account. It's incredibly frustrating when you're just waiting and waiting.

karen_robinson💼Starter (0-50k)•less than a minute ago

Man, two months sounds like a drag. When you say "physical gold," are you talking about it being delivered to a depository, or did you opt for a home storage option? Just curious if that added to the complexity/time.

janet_cook📊Growing (50-100k)•less than a minute ago

Hey, I hear you on the HR speed, that can definitely be a bottleneck. But two months from initiation to *physical gold* in your possession actually sounds pretty good, especially for a direct rollover involving physical assets. I've heard stories that stretch to four or five months for some folks. Was it the HR part that took the bulk of that, or was there a long wait on the custodian/dealer side too?

joseph_harris📊Growing (50-100k)•less than a minute ago

Hey, totally feel your pain on the rollover timeline! It can definitely be a marathon, not a sprint, especially when you're dealing with multiple institutions. One thing that helped me when I did mine was to actually get both the old 401k administrator and the new Gold IRA custodian on a three-way call. Sometimes that direct communication can help cut through the red tape and speed things up a bit.

Also, it's super important to remember to track everything! Keep detailed records of every call, email, and document you send or receive, including dates and who you spoke with. This can be a lifesaver if anything gets lost in the shuffle or if you need to follow up on a specific step. Hope your gold arrives safe and sound soon!

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