Storage fees for gold IRA - am I getting hosed?
- •Just looking for some opinions on storage fees for a Gold IRA.
- •I’m new to the physical metals game, having only really dipped my toes in during the last decade of my retirement.
- •Always stuck to paper assets on the Street, but the volatility lately has me feeling… exposed, frankly.
Just looking for some opinions on storage fees for a Gold IRA. I’m new to the physical metals game, having only really dipped my toes in during the last decade of my retirement. Always stuck to paper assets on the Street, but the volatility lately has me feeling… exposed, frankly. So, decided to roll over about 15% of my portfolio into a Gold IRA earlier this year, roughly $500k of metal, and the storage fees are making me do a double take.
My custodian is charging 0.75% annually for segregated storage. For context, I'm in NYC, and I insisted on segregated storage, even if it cost more – a lesson learned from seeing too many pooled funds on Wall Street go sideways. Is that percentage typical for segregated these days? I feel like I'm paying a premium on top of an already premium service. I've heard anecdotal evidence of people paying less, but no solid numbers I can really compare against. I'm comfortable paying a fair price, but I hate feeling like I'm being taken for a ride, especially after spending 30 years negotiating every basis point.
For those of you with significant gold IRA holdings, what are your annual storage fees looking like, especially for segregated storage? Any recommendations on custodians that offer better rates without sacrificing security? Or am I just being overly sensitive about a cost of doing business? The peace of mind of having physical metals is worth a lot to me right now, but every dollar still counts.