Thinking about moving my inherited IRA into gold, anyone done this?

Barbara White

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Thinking about moving my inherited IRA into gold, anyone done this?

barbara_white🏆Advanced (250-500k)

about 1 month ago

Key Takeaways

•My dad passed a few months back and I've inherited his traditional IRA, which is sitting at around $380k right now.
•It's been mostly in a mix of Vanguard ETFs, pretty standard stuff.
•I've been a longtime advocate for diversifying beyond just paper assets, especially after seeing the market swings recently.

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My dad passed a few months back and I've inherited his traditional IRA, which is sitting at around $380k right now. It's been mostly in a mix of Vanguard ETFs, pretty standard stuff. I've been a longtime advocate for diversifying beyond just paper assets, especially after seeing the market swings recently. When I was a bank manager back in the day, I saw way too many people get burned by relying solely on stocks and bonds, so my personal portfolio already has a decent chunk of physical metals. Now I'm wondering if I should do the same with this inherited IRA.

My initial thought is to do a direct rollover to a self-directed Gold IRA. I'm keen on the tax-deferred growth aspect, and honestly, the peace of mind knowing a portion of my retirement isn't tied directly to the whims of the stock market sounds pretty good right now. Living in Portland, I've had a few conversations with local financial advisors, and while some are hesitant, a couple have mentioned it could be a savvy move given current inflation concerns. They're quick to point out the custodial fees and storage costs, which I'm already factoring into my decision.

Is anyone here specifically navigated converting an inherited IRA into a precious metals IRA? I know the rules can be a bit different for inherited accounts compared to a regular rollover from your own active IRA. I'm especially interested in hearing about your experiences with specific gold IRA companies and if you ran into any unexpected hurdles. Did you go with physical gold, silver, or a mix? Any nightmares with specific custodians or dealers I should avoid?

I'm looking at potential allocations – maybe 10-15% of the total value into gold and silver. It's a significant amount, so I want to make sure I'm doing all my homework. Any insights or recommendations would be hugely appreciated! Feeling a bit overwhelmed with all the options out there.

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5 comments

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Best Answer▲ 8 upvotes

michael_anderson🏆Advanced (250-500k)

Hey, sorry for your loss. That's a significant amount to be thinking about. While diversifying into physical assets makes sense to some extent, going all-in on gold for a large inherited IRA might be something to really scrutinize. You'd be giving up a lot of the growth potential that even standard diversified ETFs offer, and you'd have to consider the storage and insurance costs for that much physical metal. Plus, the tax implications of liquidating all those ETFs inside an IRA to then buy physical gold can be complex. Have you looked into the tax rules for a "rollover to a self-directed gold IRA" versus actually taking distributions to buy physical gold outside of it?

Comments (5)

betty_king📊Growing (50-100k)•about 1 month ago

Hey, I actually just went through something pretty similar with my mom's old 401k. It wasn't quite as big, but I definitely felt that urge to get some of it into something more tangible. I ended up rolling a portion into a Gold IRA and honestly, the process was smoother than I expected. My main advice is just to really dig into the fees with whatever custodian you choose, because they can sneak up on you.

I feel a lot better having some of that wealth backed by physical assets, especially with all the economic uncertainty right now. It definitely gives a different kind of peace of mind than just watching numbers on a screen.

betty_king📊Growing (50-100k)•about 1 month ago

Sorry for your loss, man. That's a tough situation to be in.

You mentioned "market swings" being a big motivator here. Are you more concerned about short-term volatility or a longer-term decline in the stock market?

michael_anderson🏆Advanced (250-500k)Real Investor•about 1 month ago

betty_king📊Growing (50-100k)•about 1 month ago

Hey, sorry to hear about your dad. That's a tough situation, and it's smart to be thinking proactively about the inherited IRA. If you're serious about moving into gold, you'll want to make sure you understand the nuances of a gold IRA rollover specifically. It's not just a matter of selling the ETFs and buying gold directly within the IRA – there are specific custodians and storage requirements for physical precious metals in an IRA.

Also, don't forget that inherited IRAs have those required minimum distribution (RMD) rules, which are different depending on whether you're an eligible designated beneficiary or not. It's a layer of complexity on top of the gold aspect, so definitely worth getting some professional advice on both fronts!

maria_campbell📊Growing (50-100k)✓ Verified•about 1 month ago

Yeah, I felt the same way. The market's been a real rollercoaster lately. I actually pulled the trigger on rolling over a portion of my old 401k into a gold IRA last year. My advisor seemed a bit skeptical at first, but honestly, seeing the stability of that part of my portfolio while everything else was jumping around was super reassuring. Definitely glad I did it.

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