Storage fees got me thinking - anyone else hate paying for air?
- •Okay, so I've been in gold for over 20 years now, pretty much since the tail end of my career at Ford.
- •Most of that was physical, kept it myself.
- •Had to trust professionals with that kind of capital, especially being in Detroit, and with the way things are sometimes.
Okay, so I've been in gold for over 20 years now, pretty much since the tail end of my career at Ford. Most of that was physical, kept it myself. When I rolled over a big chunk of my 401k into a Gold IRA a few years back – we're talking about $750k of my retirement savings – I figured the storage fees were just part of the deal. Had to trust professionals with that kind of capital, especially being in Detroit, and with the way things are sometimes.
Lately though, every time I see that quarterly statement with the storage fee line item, it just grates on me. I know it's a small percentage of my overall holdings, but it still feels like I'm paying for air. My physical stuff, I paid for it once and that was it. This IRA gold, it's just a perpetual expense. I've always seen gold as my ultimate safe haven, especially with all the talk about inflation and the dollar losing steam. It's done right by me through good times and bad, especially through the 2008 crash, but these ongoing fees just kind of gnaw at you when you're used to a different way of doing things.
Anyone else feel this way? Or am I just being an old fossil? What kind of storage fees are you all paying, percentage-wise, for your Gold IRAs, and what size holdings are we talking about? Does anyone factor these fees directly into their long-term ROI calculations, or do you just consider it a necessary cost of doing business with an IRA custodian?