Thinking about my first Gold IRA - anything I should watch out for?
Alright, so I’ve been sitting on this cash in my regular IRA for too long, just watching the market do its thing, and I’m ready to finally pull the trigger on a Gold IRA. Been thinking about this for a while, especially with all the noise out there. I'm looking to put about $100k, maybe a bit more depending on how comfortable I feel after talking to a few places, into some physical gold. I’m thinking American Gold Eagles, maybe some Canadian Maple Leafs, but I'm open to other suggestions for actual bullion. Diversification, right?
I’ve been eyeing a few of the mainstream providers, the ones you see advertised during financial news segments. Are there any particular red flags I should be looking for when I actually start talking to their reps? I’m retired military, based here in Honolulu, and I’ve seen enough global instability from the Pacific Rim perspective to know that having some tangible assets outside of the digital realm feels like a pretty smart move right now. It's not about getting rich quick, but more about preserving what I've got.
For those of you who have already done this, what was your experience like? Did you feel pressured at all? Any hidden fees or weird storage arrangements that caught you off guard? I'm trying to avoid getting nickel-and-dimed, especially on something like storage or insurance. Also, has anyone used multiple custodians or stuck with one? Just trying to get a feel for the landscape before I commit this chunk of change.
I've got a decent amount saved up, north of $700k in my whole portfolio, so this isn't my first rodeo with investing, but it IS my first time with precious metals in an IRA. Any particular insights or "wish I knew this" moments from your first go-around would be hugely appreciated. Mahalo!