Spokane, WA - Gold IRA Storage Fees - What's a decent rate these days?
- •The custodian charges me 0.15% per year for storage, which comes out to about $525 annually.
- •On top of that, there's a $100 administrative fee.
- •So we're looking at $625 a year just to keep it in their vault.
Okay, so I've mostly been in it for the long haul with my Gold IRA, but I was just looking at the fees for the past year and starting to wonder if I'm getting a good deal. I’ve currently got about $350k in physical gold in my IRA, mostly Eagles and Maple Leafs, a good chunk of it from when my grandfather started setting some aside for me back in the day. The custodian charges me 0.15% per year for storage, which comes out to about $525 annually. On top of that, there's a $100 administrative fee. So we're looking at $625 a year just to keep it in their vault.
My family's always preached generational wealth and security, and honestly, the peace of mind knowing that portion of my portfolio isn't tied to the wild swings of the market is huge, especially with how the timber industry has been going lately. Plus, being here in Spokane, there aren't exactly a ton of local options for insured, IRS-compliant storage that I trust beyond my current outfit. I'm not looking to penny-pinch on something this important, but I also don't want to be overpaying just because I'm comfortable.
For those of you with similar portfolio sizes, maybe something in the $250k - $500k range for your Gold IRA, what are you seeing for storage fees? Is 0.15% a reasonable percentage? Are there custodians out there offering better rates or flat fees that make more sense at a certain point? Seriously curious if I should be shopping around or if this is par for the course.