Thinking about leaving my gold to the grandkids - anyone
- •Been looking at my gold stash lately – probably around $700k worth now, maybe a bit more depending on the day.
- •I started buying physical way back in '03 when I first retired from Ford, mostly just held it at home.
- •Then when the IRA option came around, I rolled over a big chunk of my 401k into a Gold IRA.
Been looking at my gold stash lately – probably around $700k worth now, maybe a bit more depending on the day. I started buying physical way back in '03 when I first retired from Ford, mostly just held it at home. Then when the IRA option came around, I rolled over a big chunk of my 401k into a Gold IRA. Been through a lot of ups and downs with the market, but gold always felt like the one constant. Now I'm 75 and thinking about the next generation.
My two grandkids are still in college, but I'd love to leave them something tangible that isn't just paper. My son's doing okay, but I want to set these kids up right, especially with how crazy the world is. I've been researching how to best pass on the gold without it getting totally eaten up by taxes or probate. Anyone here have experience specifically with legacy planning for gold? Like, setting up trusts, or even just straightforward wills?
I'd hate for them to just sell it all immediately, though if they need it for a house or something big, that's fine. It's more about the idea of them having a solid, real asset. Is there a way to suggest they hold onto it for a certain period? I know I can't enforce it, but maybe some good advice from their old grandpa from Detroit can stick. Just curious about other people's approaches, especially those of us who've been in this game for decades.