Thinking about my kids' future with gold - and those

Karen Robinson

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Thinking about my kids' future with gold - and those

karen_robinson💼Starter (0-50k)

about 2 months ago

Key Takeaways

•We're talking like less than $10k in the Gold IRA right now, so baby steps for sure.
•My big question is about using gold as a legacy asset, not just for my own retirement.
•But man alive, those premiums sometimes feel like I'm getting ripped off!

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Okay, so I'm just starting out on this whole Gold IRA journey – literally just opened my account a few months ago after dipping my toes in with some physical coins. I'm a teacher here in Columbus, and honestly, retirement feels light-years away, but I keep thinking about how I can set my two kids up for success later on. We're talking like less than $10k in the Gold IRA right now, so baby steps for sure.

My big question is about using gold as a legacy asset, not just for my own retirement. I've been looking at different types of gold coins – things like American Gold Eagles and Canadian Maples – because I like the idea of something tangible and recognized globally. It just feels... safer? More permanent? But man alive, those premiums sometimes feel like I'm getting ripped off! It makes me wonder if I'm better off just sticking with bars for the Gold IRA and maybe accumulating some Eagles or Maples separately as a "nest egg" for the kids outside of the retirement account. Has anyone else thought about this for family legacy?

I guess I'm trying to figure out the best balance between preserving wealth, having something easily transferable when the time comes (hopefully way in the future!), and not blowing my entire modest budget on markups. I see some folks here talking about passing down specific coins with historical value, which is cool, but with my current budget, I'm definitely more focused on the metal itself. What are your thoughts on specific Gold Coins for legacy planning vs. just getting the most gold for your buck?

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3 comments

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Best Answer▲ 10 upvotes

susan_clark💰Established (100-250k)

Totally get the concern about premiums, especially when you're thinking long-term for your kids. I'm curious, when you say "those crazy premiums" are you referring specifically to the markup on the physical coins you bought, or have you seen some really high premium examples for Gold IRA eligible products you're considering?

Comments (3)

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

Totally feel this! I'm in a similar boat, though my kids are a bit older. I started looking into a Gold IRA after seeing how much my 401k just... *sank* during some market craziness a few years back. The premiums definitely give me pause sometimes too, not gonna lie. It's a balance, right? But the peace of mind knowing I've got something tangible for them, even if it's a small part of their future, is a huge win for me.

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

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

Hey, totally get wanting to set your kids up. That's awesome. But just something to consider – while gold can be great for long-term wealth preservation, have you thought about the potential for growth with other assets? Especially for kids who have decades until retirement, a more aggressive, diversified portfolio might actually outperform gold in the long run. Those premiums really eat into returns too, as you pointed out.

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