Thinking about my Gold IRA and the kids' future

Ruth Perez

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Thinking about my Gold IRA and the kids' future

ruth_perez📊Growing (50-100k)

about 2 months ago

Key Takeaways

•It’s got roughly $80k in it, mostly American Gold Eagles and some Canadian Maples, all physical.
•My main goal was always to supplement my government pension once I retire in about 10-12 years.
•I'm in Albuquerque, and the idea of having that extra buffer feels good, especially with how wonky everything feels economically these days.

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Okay, so I’ve been sitting on this Gold IRA for a while now, probably close to 8 years, and for the most part, I’ve just been letting it do its thing. It’s got roughly $80k in it, mostly American Gold Eagles and some Canadian Maples, all physical. My main goal was always to supplement my government pension once I retire in about 10-12 years. I'm in Albuquerque, and the idea of having that extra buffer feels good, especially with how wonky everything feels economically these days.

Lately, though, I've been thinking more about what happens after me. I have two kids, both in their early 20s, and they’re just starting to get their feet under them. They know I have this gold, but we haven't really talked about it beyond that. I'm wondering if any of you have actually structured your Gold IRAs or other precious metals investments with a specific legacy plan in mind? Like, did you set up trusts, or just name beneficiaries and hope for the best?

I want to make sure it's as straightforward as possible for them, but also that they understand the value and aren't just selling it off for a quick buck, unless absolutely necessary. Maybe I'm overthinking it, but it feels like a significant chunk of my life's savings is tied up in something that isn't as liquid as, say, a regular stock portfolio. Any tips on bridging that education gap with the next generation, or pitfalls to avoid when planning this out? Appreciate any insights, especially if you're further along in this journey than I am.

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5 comments

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Best Answer▲ 16 upvotes

david_brown💎Premium (500k-1m)

Interesting perspective on the generational aspect. I've been in this game for a while – my first significant gold purchase was back in '08 when everyone else was panicking. What I've noticed, especially having navigated a few market corrections, is that the 'future' for kids often means radically different investment horizons than ours. Are we talking about a trust fund in 20 years, or just diversification for their own emerging portfolios in five? For my own kids, I’ve started drip-feeding smaller amounts of physical silver, not necessarily for their IRA, but as an accessible tangible asset. It teaches them about real wealth outside of fluctuating digital numbers, but it’s definitely a separate strategy from my own gold IRA holdings which are purely for my retirement hedge.

Comments (5)

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

Totally get this! My Gold IRA isn't nearly as big as yours, but I started it with a similar mindset, thinking about my grandkids eventually. It's wild to think about that far ahead, but seeing the stability of physical gold compared to the market rollercoasters definitely gives some peace of mind. Glad to hear it's ticking along nicely for you!

donna_rogers🏆Advanced (250-500k)Real Investor•about 2 months ago

Hey, that's a decent chunk of change sitting there! Quick question, you mentioned you've got American Gold Eagles and Canadian Maples, all physical. Do you actually have those stored at home or in a depository? Just curious how you handle the physical storage aspect for that amount.

linda_taylor📊Growing (50-100k)✓ Verified•about 2 months ago

Interesting perspective. While a Gold IRA is definitely a solid way to diversify and protect wealth, especially against inflation, I'd gently push back on the idea of it being a primary inheritance vehicle for "the kids' future" in the same way a diversified growth portfolio might be. Gold tends to be more about wealth preservation than aggressive growth.

For something 8 years in, $80k isn't bad for just letting it sit, but have you ever considered how the tax implications of an IRA (even a Gold IRA) might affect your kids when they eventually inherit it vs. a non-retirement gold holding? Just a thought to chew on beyond the physical asset itself.

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

Hey, that's smart thinking about the kids' future with your Gold IRA! One thing to keep in mind, especially with physical gold, is understanding the RMD rules when you eventually hit that age. It's not always as straightforward as liquidating stocks.

You might find this article on Gold IRA distributions helpful: https://www.investopedia.com/gold-ira-rules-7963287. It covers some good points about how distributions work and potential tax implications. Good luck!

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

Interesting perspective on the generational aspect. I've been in this game for a while – my first significant gold purchase was back in '08 when everyone else was panicking. What I've noticed, especially having navigated a few market corrections, is that the 'future' for kids often means radically different investment horizons than ours. Are we talking about a trust fund in 20 years, or just diversification for their own emerging portfolios in five? For my own kids, I’ve started drip-feeding smaller amounts of physical silver, not necessarily for their IRA, but as an accessible tangible asset. It teaches them about real wealth outside of fluctuating digital numbers, but it’s definitely a separate strategy from my *own* gold IRA holdings which are purely for my retirement hedge.

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