Storage fees for gold IRA - am I missing something?
- •Okay, so I've been investing in a gold IRA for a couple of years now, mostly focusing on American Gold Buffalos and some Canadian Maple Leafs.
- •I've got around $75k in there, and honestly, it’s been a pretty solid hedge against all the economic craziness we've seen.
- •My question is about the annual storage fees.
Okay, so I've been investing in a gold IRA for a couple of years now, mostly focusing on American Gold Buffalos and some Canadian Maple Leafs. I've got around $75k in there, and honestly, it’s been a pretty solid hedge against all the economic craziness we've seen. I'm a principal here in Little Rock, and I try to teach my students financial literacy, so I definitely practice what I preach when it comes to diversifying.
My question is about the annual storage fees. I'm currently paying about 0.15% of my total asset value, which works out to roughly $112.50 a year. It's not a huge amount, but it got me thinking. My Gold IRA is held with a reputable custodian, and the storage facility is insured and all that jazz, but is 0.15% competitive for the amount I have? I’ve seen some articles thrown around on other forums suggesting that for larger portfolios, these fees can sometimes be negotiated down, or that some companies have tiered structures that might benefit me more as my portfolio grows.
I guess I'm trying to figure out if I should be shopping around. I hate the idea of moving everything, but if I'm leaving money on the table, it's worth exploring. Are there any other investors here, especially those with similar portfolio sizes, who have experience with negotiating these fees or finding better rates? What's considered a "good" annual storage fee percentage wise? Any insights would be super helpful!