Took FOREVER to move my old 401k to a Gold IRA - anyone
- •Man, I just gotta vent about this whole 401k to Gold IRA rollover.
- •I started the process back in late November, hoping to get it all squared away before the new year.
- •So, I thought it would be a relatively smooth process.
Man, I just gotta vent about this whole 401k to Gold IRA rollover. I started the process back in late November, hoping to get it all squared away before the new year. My old 401k with a previous employer was just sitting there, dormant, and with all the market volatility, I’ve been feeling way more comfortable having a portion of my portfolio in something tangible like precious metals. My financial advisor here in Salt Lake City has been pushing the diversification aspect pretty hard, and honestly, it makes a lot of sense, especially with how things are looking globally.
So, I thought it would be a relatively smooth process. Turns out, nope. Multiple phone calls, endless forms, and what felt like pulling teeth just to get the old 401k provider to release the funds. It finally fully funded into my Gold IRA account just last week, which means it took almost three full months. Seriously, what is up with that? I was getting genuinely worried at one point that something had gone wrong, and it was a decent chunk of change, close to $150k.
Has anyone else experienced such a long timeline for a 401k direct rollover into a Gold IRA? Is this normal, or did I just have a particularly inefficient old provider? My advisor kept telling me it could take a while but even he seemed a little surprised by the exact duration. It’s comforting to finally see the platinum in my account, but man, the stress leading up to it was no joke.