Thinking about gold IRA for the kids post-retirement

Patricia Miller

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Thinking about gold IRA for the kids post-retirement

patricia_miller📊Growing (50-100k)

about 2 months ago

Key Takeaways

•Just cracked the six-month mark with them, and my initial $60k rollover (from an old 401k) is looking solid.
•Honestly, it’s given me a lot of peace of mind, especially with all the economic weirdness going on.
•My small business here in Denver has seen its ups and downs, and having some tangible assets feels really good.

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Okay, so I've been diving pretty deep into this Gold IRA thing lately, especially now that my own account with Augusta Precious Metals is humming along so nicely. Just cracked the six-month mark with them, and my initial $60k rollover (from an old 401k) is looking solid. Honestly, it’s given me a lot of peace of mind, especially with all the economic weirdness going on. My small business here in Denver has seen its ups and downs, and having some tangible assets feels really good.

My big question now is about family legacy. My wife and I have two kids, both in their early twenties, just starting to navigate their own financial futures. I've been thinking, once I hit retirement (which, let's be real, feels like it's coming faster than I ever thought!), about potentially setting up something similar for them, or at least guiding them towards it. Not necessarily a full rollover for them right now, but maybe a smaller, direct purchase into a Gold IRA down the line. I want to make sure they have that same kind of stability and diversification that I'm finding so valuable.

Has anyone here gone through the process of setting up Gold IRAs for adult children, perhaps as a way of passing on wealth or even just to help them get started with a diversified portfolio? I'm curious about the logistics, any tax implications I should be aware of, or even just tips on how to talk to them about it without sounding like I'm lecturing. I want this to be a positive thing, not a chore for them. Any advice on how you approached this with your own family would be super helpful!

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5 comments

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Best Answer▲ 9 upvotes

daniel_wright💎Premium (500k-1m)

That's an interesting thought process, and congrats on the positive experience with Augusta! While gold can be a good hedge, putting it all in a Gold IRA for the kids post-retirement might be a bit niche, no? Especially if they're still decades away from retirement themselves. You're essentially locking up a significant portion of their potential growth in a single asset class that doesn't traditionally produce income or dividends. Diversification is key after all!

Comments (5)

helen_turner💰Established (100-250k)Real Investor•about 2 months ago

Totally get this! My parents actually did something similar for us a few years back. Not a full Gold IRA for each of us, but they significantly increased their gold holdings in their own accounts with the explicit mention that it was for "the grandkids' future, or yours if you're lucky." 😂 It definitely spurred me to look into it for my own retirement planning, though still just dipping my toes in.

barbara_white🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

That's an interesting idea about setting up Gold IRAs for your kids. Congrats on your success with Augusta so far! With your own rollover looking solid, are you thinking about contributing to theirs with new money, or would it also be from existing retirement accounts they have?

daniel_wright💎Premium (500k-1m)Real Investor✓ Verified•about 2 months ago

That's an interesting thought process, and congrats on the positive experience with Augusta! While gold *can* be a good hedge, putting it all in a Gold IRA for the kids post-retirement might be a bit niche, no? Especially if they're still decades away from retirement themselves. You're essentially locking up a significant portion of their potential growth in a single asset class that doesn't traditionally produce income or dividends. Diversification is key after all!

diane_bailey💰Established (100-250k)Real Investor•about 2 months ago

That's great you're thinking about future generations! While you can't directly establish an IRA *for* your kids unless they have earned income, you can absolutely factor them into your estate planning. One thing to consider is setting up a trust or specifying beneficiaries for your own Gold IRA. That way, the assets can pass to them smoothly after you're gone.

You might find this article on Gold IRA inheritance rules helpful: https://www.investopedia.com/gold-ira-inheritance-rules-7965379

richard_garcia👑Elite (1m-5m)Real Investor•about 2 months ago

Totally with you on this. I've been eyeing a Gold IRA for my niece and nephew too, specifically thinking about their college funds down the line. It just makes so much sense to have a portion of their future locked into something tangible and historically stable.

My own experience with Augusta Precious Metals has been great as well. Rolled over about $75k from an old Roth IRA and the process was smooth. Glad to see someone else having a positive experience with them!

The retirement loophole most advisors won't mention

You can move your 401(k) into physical gold — tax-free. Here's the step-by-step guide.

Under $100k? Compare options →