Thinking about my Gold IRA and the next generation - RMDs

Steven Mitchell

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Thinking about my Gold IRA and the next generation - RMDs

steven_mitchell🏆Advanced (250-500k)

about 2 months ago

Key Takeaways

•I'm a manufacturing exec here in Cleveland, and for me, hard assets have always just *made sense*.
•Got about $350k currently in my Gold IRA, and it's been a rock in my portfolio.
•My big question for the group is around RMDs and how you all approach legacy planning with your precious metals IRAs.

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Been thinking a lot about my Gold IRA strategy lately, especially with my son finishing college in a couple years and grandkids potentially on the horizon down the road. I'm a manufacturing exec here in Cleveland, and for me, hard assets have always just made sense. Got about $350k currently in my Gold IRA, and it's been a rock in my portfolio. With all the instability globally, I sleep a lot better knowing that physical gold isn't going to suddenly disappear or get devalued by some government printing press.

My big question for the group is around RMDs and how you all approach legacy planning with your precious metals IRAs. I'm not quite at RMD age yet myself, but it's close enough now that I'm starting to map out the next 10-15 years. I’ve seen this RMD Calculator (rmdcalculator.goldirablueprint.com) and it looks like a good tool for sketching out what those distributions might look like. Obviously, I want to minimize tax burdens for my son, but also want to keep that wealth in a form that he understands and values. I've always tried to teach him the importance of tangible assets, not just digital numbers in a bank account.

Are any of you navigating this inheritance aspect? What are the strategies you're employing to pass on that physical gold or the value of your Gold IRA in the most tax-efficient way? I'm debating whether to start taking some distributions early to convert to physical gold outside the IRA, or just let it ride and deal with the RMDs when they hit. The thought of paying significant taxes on what I've carefully built up is a bit frustrating, to be honest. I’m leaning towards keeping it in the IRA until I have to take it out, but I'm open to other perspectives.

What are your thoughts on gifting some of it gradually over time, versus having it all pass through as an inherited IRA? I’d appreciate any insights or experiences you’ve had planning for the next generation with your Gold IRAs. Thanks in advance for sharing your wisdom!

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5 comments

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Best Answer▲ 10 upvotes

richard_garcia👑Elite (1m-5m)

Hey, great topic! It's smart to be thinking about the long game with your Gold IRA.

One thing to definitely keep in mind for legacy planning is the "stretch IRA" rules for beneficiaries. While the SECURE Act changed things for most IRAs, precious metals IRAs can have some unique considerations, especially if you're holding physical metals. You might want to check out some articles on how inherited Gold IRAs are handled for non-spousal beneficiaries; there are some key differences compared to a traditional stock IRA that can impact those RMDs for your son. Forbes Advisor has a decent overview of inherited IRA rules that might be a good starting point, even if it's general.

Comments (5)

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

Totally get this, dude. I'm in a similar boat, though maybe a few years ahead of you. My daughter just had her first kid, and it instantly made me rethink my whole Gold IRA distribution strategy. Like, suddenly those RMDs aren't just about *my* retirement, but about what I can potentially leave behind without Uncle Sam taking a giant bite. It's a whole different ballgame once you start thinking multi-generational, right?

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

Super interesting topic! For you, as someone in manufacturing, how do you see the "hard assets" mindset applying to something like precious metals in an IRA compared to, say, real estate or other tangible business assets you might deal with?

elizabeth_johnson💰Established (100-250k)Real Investor✓ Verified•about 2 months ago

Hey, cool to see someone thinking ahead like this. While a Gold IRA is definitely a solid way to hold hard assets, and I totally get the appeal, have you considered the *practicality* for your son down the line when those RMDs hit?

I mean, liquidating physical gold bars or coins to meet an RMD can be a bit more of a process than just selling shares in an ETF or mutual fund, especially if he's not as into the precious metals world as you are. Just something to chew on when you're thinking about that future legacy for him. Maybe a mix of different assets could offer some flexibility?

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

Hey, great topic! It's smart to be thinking about the long game with your Gold IRA.

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

Totally with you on this one! Hard assets just hit different, especially in uncertain times. Always felt more secure about them than just digital numbers on a screen.

I'm in a similar boat, though smaller scale – got about $180k in my Gold IRA right now. My daughter's still in high school, but I'm already thinking about those RMDs down the line and how to make sure she benefits most efficiently. It's a smart play to be looking ahead like you are.

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