Started my Gold IRA in 2008 and retired last year because of it

Brian Edwards

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Started my Gold IRA in 2008 and retired last year because of it

brian_edwards🌟Ultra (5m+)

about 1 hour ago

Key Takeaways

•Hard to believe it's been over 15 years since I rolled a good chunk of my 401k into a Gold IRA.
•I remember the financial crisis hitting, and my buddies in Aspen were all losing their minds watching their portfolios tank.
•Most of my real estate developments were on hold anyway, so I had some time to really research it.

See what your 401(k) could look like in gold

Hard to believe it's been over 15 years since I rolled a good chunk of my 401k into a Gold IRA. I remember the financial crisis hitting, and my buddies in Aspen were all losing their minds watching their portfolios tank. I'd been dabbling in precious metals for a while by then – mostly physical bars and some mining stocks – so the idea of getting actual gold and silver into my retirement account made a lot of sense. Most of my real estate developments were on hold anyway, so I had some time to really research it.

I started with about $800k from my old 401k, specifically doing a direct rollover. It felt like a massive amount of money at the time, but the peace of mind knowing it wasn't tied to the volatile stock market was huge. Over the years, I continued to contribute, adding more whenever the market felt shaky or I had some extra cash from a good property flip. I actually ended up rolling over some more funds from other accounts, eventually getting it up to almost $2.5 million in precious metals. My financial advisor thought I was nuts, said I was "too concentrated," but he changed his tune after a few years.

Fast forward to last year, I decided to finally hang up my hard hat. My Gold IRA, combined with my other investments (which thankfully recovered, and then some), was well over $5 million. The precious metals component alone was a significant part of that growth. It wasn't just about preserving capital; it genuinely appreciated more than I ever expected, especially with all the inflation scares and geopolitical instability we've seen. It allowed me to retire comfortably at 62, and now I spend my days skiing, fly fishing, and not worrying about market headlines. Anyone else have similar experiences with their Gold IRAs?

4 comments

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Best Answer▲ 8 upvotes

karen_robinson💼Starter (0-50k)

That's an awesome story, and congrats on the retirement! It's definitely true that gold can be a great hedge in times of crisis. But I also wonder how much of that success was timing the market perfectly right at the start of a huge gold bull run. If you'd started, say, in 2011 at the previous peak, the returns might have looked a bit different over the same timeframe, even with the recent boom. Still, a win's a win!

Comments (4)

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

jennifer_martinez💰Established (100-250k)Real Investor✓ Verified•less than a minute ago

That's an awesome story! Not quite 2008 for me, but I started looking into a Gold IRA pretty seriously after the initial COVID crash. My traditional portfolio took a noticeable hit and it really highlighted how much I wanted some diversification. Glad to hear it worked out so well for you in the long run!

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

That's an awesome success story! Sounds like you timed that pretty perfectly. Did you keep buying more physical as well, or was the IRA your main metals play after that initial roll-over?

michelle_collins🏆Advanced (250-500k)Real Investor•less than a minute ago

Awesome to hear about your success story! It really highlights how valuable those long-term plays can be, especially with something as stable as gold.

For anyone looking to get started, I always recommend checking out a few different custodians. Having a good, reliable custodian for your Gold IRA is just as important as picking the right metals. It's like having a good bank – you want security and ease of access. There are some great comparison sites out there that break down their fees and storage options.

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