Storage fees got me scratchin' my head
- •When I first got into this, a couple years before I retired from the co-op, I just picked a custodian and didn't think much about it.
- •Now that I’m fully done with the dairy biz and actually living off this nest egg, every penny counts a bit more, you know?
- •My current custodian charges a flat annual fee, which at first seemed simpler than a percentage, especially since my holdings were smaller.
Alright, so I’ve been building up my gold IRA for a few years now, got a pretty decent chunk in there (think low six-figures, most of it in those 10oz PAMP bars) and I'm starting to eyeball those storage fees. When I first got into this, a couple years before I retired from the co-op, I just picked a custodian and didn't think much about it. Now that I’m fully done with the dairy biz and actually living off this nest egg, every penny counts a bit more, you know?
My current custodian charges a flat annual fee, which at first seemed simpler than a percentage, especially since my holdings were smaller. But now that the value of my gold has gone up so much (and thank goodness for that, especially with inflation these days!), I'm wondering if a percentage-based fee might actually work out better in the long run. Or am I just overthinking this? Are there custodians out there who charge a percentage that could end up being significantly less for larger holdings? I'm based out of Madison, WI, so I'm also curious if folks have found any differences in fees or services depending on geography, though I imagine most vaulting is pretty centralized somewhere.
I’m also starting to think about my RMDs down the line. I know it’s a ways off for me, but the thought of having to liquidate some of this gold and then dealing with those numbers has me a little antsy. I actually found this RMD Calculator https://rmdcalculator.goldirablueprint.com/ the other day which looks pretty handy for when that time comes. Has anyone used a tool like that, or found a custodian that makes the RMD process smoother specifically for physical gold holdings?
Just trying to make sure I’m being as efficient as possible without sacrificing security. What have your experiences been with storage fees? Any hidden charges I should watch out for? Should I just stick with what I know, or is it worth looking into switching custodians?