Storage fees for gold IRA rollover - are these normal?

Sharon Evans

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Storage fees for gold IRA rollover - are these normal?

sharon_evans💰Established (100-250k)

about 8 hours ago

Key Takeaways

•$150k from an old 401k
•0.85% annually
•$100k-$250k range

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So, I’ve been heavily invested in my Gold IRA for a while now, thanks to some smart advice I picked up from the execs at the oil company I work for here in Tulsa, and it’s been a fantastic hedge for my portfolio, especially with all the economic uncertainty lately. I rolled over about $150k from an old 401k into physical gold a few years back, and while the value itself has been great, I'm starting to eyeball these storage fees.

My current custodian (who shall remain nameless for now) charges what feels like a percentage of the total value rather than a flat annual fee. I'm seeing it hit around 0.85% annually right now. When I first signed up, with the market where it was, that didn't feel as significant, but with gold prices doing their thing, that number just keeps climbing. It’s not breaking the bank or anything, but it’s definitely something I’m noticing more as my investment grows. It just feels a bit… unanchored, if that makes sense?

Is this a pretty standard practice for Gold IRA storage? I know some places do flat fees, but I also know that often means a higher flat fee for larger portfolios. I’m wondering if I should start looking around for other custodians or if this is just par for the course once you get past a certain asset value. I’ve heard whispers about some places offering lower percentages, or even tiered structures. Anyone have experience with custodians charging differently for storage?

Any insights from others who've done Gold IRA rollovers into physical metals would be super helpful. What kind of fees are you guys seeing, especially for portfolios in that $100k-$250k range? Thinking it might be time to shop around, but don't want to jump ship if this is just how it is across the board.

4 comments

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Best Answer▲ 8 upvotes

dorothy_lopez💰Established (100-250k)

Hey, I hear you on the storage fees. I had a similar situation when I rolled over my 401k into a Gold IRA. The fees initially felt a bit steep, but after comparing a few different custodians, I found they were pretty much in the same ballpark. It seems to be a common part of the deal for secure, insured storage of physical assets. Glad to hear your Gold IRA has been a good hedge for you!

Comments (4)

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

brian_edwards🌟Ultra (5m+)Real Investor✓ Verified•less than a minute ago

Interesting! You mentioned getting advice from execs at an oil company in Tulsa. Are these guys specifically invested in gold or do they just generally advocate for alternative assets?

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

Hey, interesting to see your take on the gold IRA. While it's definitely a solid hedge, I've always been a bit wary of the storage fees myself. I mean, a lot of folks in traditional investments don't have to deal with those recurring costs. It makes me wonder sometimes if the "security" of physical gold outweighs the ongoing expenses, especially if you're not planning on holding it for several decades. Just something to chew on.

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

Hey there! Yeah, storage fees are definitely normal for a Gold IRA since you can't personally hold the physical gold. It's usually a percentage of the value or a flat annual fee, depending on the custodian and depository.

One thing to keep in mind is to compare these fees when you're choosing a provider. Sometimes, a slightly higher fee might come with better insurance or more robust security protocols, which could be worth it in the long run. Good luck!

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