What are y'all paying for Gold IRA custodian fees?
- •Been doing some digging into my Gold IRA statement from last year and trying to get a clearer picture of all the fees.
- •I got into the Gold IRA game about 5 years ago, right when things started looking a bit shaky with inflation.
- •As someone who's spent my whole career in dairy production here in Wisconsin, I tend to be pretty pragmatic.
Been doing some digging into my Gold IRA statement from last year and trying to get a clearer picture of all the fees. My current custodian (won't name them yet, wanna see what others are dealing with) charges me a flat annual fee, which feels a little high for what I'm getting. I'm sitting on about $700k in physical gold in that account, and while I understand there's a cost to storing and insuring that much metal, I'm just curious if I'm getting fleeced or if this is par for the course.
I got into the Gold IRA game about 5 years ago, right when things started looking a bit shaky with inflation. As someone who's spent my whole career in dairy production here in Wisconsin, I tend to be pretty pragmatic. I liked the idea of having a tangible asset outside of the traditional financial system. My advisor at the time recommended this specific company, and I just kinda went with it without really shopping around on the custodian itself. Now I'm wondering if that was a mistake.
So, for those of you with Gold IRAs, especially if you're in that $500k to $1M range, what kind of fees are you seeing? Is it a percentage of assets, or a flat fee? What about storage? Are you paying separately for that, or is it bundled? Any hidden fees to watch out for? I'm trying to decide if it's worth the hassle of transferring my assets to a different custodian, but I don't want to jump out of the frying pan and into the fire, you know?
Appreciate any insights. Just trying to be a responsible steward of my retirement savings, especially with everything going on.