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    Seriously considering self-directed for my IRA - anyone move from a traditional custodian?

    A
    Key Takeaways
    • •My metals are already substantial outside of the IRA, but I'm looking to increase my gold and silver holdings within my retirement accounts as well.
    • •My concern, naturally, is the additional administrative burden.
    • •I'm retired now down here in Palm Beach, so I have the time, but I value my peace of mind.
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    I've been kicking around the idea of moving my IRA from my traditional brokerage (Merrill, been with them for thirty years, bless their hearts) to a self-directed structure, specifically for more direct control over my alternative asset allocation. My metals are already substantial outside of the IRA, but I'm looking to increase my gold and silver holdings within my retirement accounts as well. I'm sitting on a portfolio north of $3 million, and frankly, I'm tired of the limited options and the nickel-and-diming fees for anything outside their preferred fund list.

    My concern, naturally, is the additional administrative burden. I'm retired now down here in Palm Beach, so I have the time, but I value my peace of mind. For those of you who've made the switch from a traditional custodian to a truly self-directed IRA, what was your experience like? Was the setup process a nightmare? Any unexpected gotchas or regulatory hurdles I should be aware of? I’m envisioning a scenario where I can literally direct the purchase of specific physical gold and silver, not just some amorphous ETF or mutual fund that tracks mining companies.

    I understand the rules around disqualified persons and UBIT, but I'm looking for real-world anecdotes. Did you feel like you gained significant control and better diversified your retirement savings? Or did it just add a layer of complexity you later regretted? I'm keen on really getting into the details here. And on a related note, for those already taking RMDs, how do you handle those distributions from precious metals? I've been using that RMD Calculator I found online to get a rough idea, but curious about the practicalities of liquidating specific assets when the time comes.

    Appreciate any insights from this community. Thanks in advance for sharing your wisdom.

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    7 comments

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    Best Answer▲ 19 upvotes
    D
    donald_nelson💎Premium (500k-1m)
    I rolled over about $80k last year. Honestly the hardest part was just picking which metals to hold. Still second-guessing myself.

    Comments (7)

    8
    maria_campbell📊Growing (50-100k)✓ Verified•about 1 month ago

    Oh man, I totally get where you're coming from. I did something similar a few years back, though not exactly for metals. Had my IRA with Schwab forever, mostly just buying ETFs they recommended. Got into real estate crowdfunding and realized I couldn't touch any of the good stuff in my IRA. Ended up rolling it over to a self-directed custodian and it was honestly way smoother than I expected. The paperwork seemed daunting but it was just a few forms and some waiting.

    The control is amazing, definitely worth looking into if you know what you want to invest in. Just make sure you understand the prohibited transactions for SDIRAs to avoid any headaches!

    4
    michelle_collins🏆Advanced (250-500k)Real Investor•about 1 month ago

    Totally get the appeal of a self-directed IRA, especially for alternative assets. But I've gotta ask, if your metals are already substantial outside your IRA, why complicate things within it? Sometimes the 'direct control' can just mean more headache and less liquidity when you actually need it. Just something to consider before jumping ship from a long-standing relationship with Merrill. They might not have all the bells and whistles for *every* alt asset, but sometimes simplicity is key.

    10
    michael_anderson🏆Advanced (250-500k)Real Investor•about 1 month ago

    Hey, that's a big move after 30 years! Sounds like you've got a solid plan for your metals outside the IRA already. Quick question: when you say "alternative asset allocation," are you thinking beyond just physical gold and silver here, or primarily focusing on those within the SDIRA?

    19
    donald_nelson💎Premium (500k-1m)Real Investor✓ Verified•about 1 month ago

    I rolled over about $80k last year. Honestly the hardest part was just picking which metals to hold. Still second-guessing myself.

    16
    paul_hill🏆Advanced (250-500k)Real Investor✓ Verified•about 1 month ago

    My advisor told me 10-15% in gold is the sweet spot but I went heavier. We'll see how it plays out.

    19
    linda_taylor📊Growing (50-100k)✓ Verified•about 1 month ago

    Been looking into this myself — the fees on some of these custodians are wild. Anyone found one that doesn't gouge you?

    16
    jason_morgan💰Established (100-250k)Real Investor✓ Verified•about 1 month ago

    Interesting take. I've heard the opposite from a few people though — would love to see some actual numbers on this.

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