Worried about inflation eating away at my rollover from

Joshua Phillips

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Worried about inflation eating away at my rollover from

joshua_phillips🏆Advanced (250-500k)

about 2 months ago

Key Takeaways

•Been seeing a lot of chatter lately about inflation, and honestly, it’s got me a little antsy.
•I spent my life in steel, so I know a thing or two about volatile markets and the value of tangible assets.
•When I rolled over my US Steel 401k a few years back, I put a chunk of it, about $300k, into a Gold IRA.

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Been seeing a lot of chatter lately about inflation, and honestly, it’s got me a little antsy. I spent my life in steel, so I know a thing or two about volatile markets and the value of tangible assets. When I rolled over my US Steel 401k a few years back, I put a chunk of it, about $300k, into a Gold IRA. At the time, it felt like a no-brainer – hedging against the unknown, you know? Now with all these inflation warnings, I'm wondering if I should be doing more, or if I made the right call then.

I remember back in the 70s, my dad lost a fair bit of sleep over his savings thanks to inflation. I don't want to be in the same boat. My gut tells me gold is still the ultimate safe haven when the dollar starts looking a bit shaky. Anyone else feeling this way? All these reports about rising consumer prices here in Birmingham – everything from groceries to gas – it adds up fast. Just makes me second guess if my Gold IRA is enough or if I should diversify even further into other hard assets.

What are folks’ thoughts here? Is the current inflation scare just a blip, or are we heading into something more sustained? And for those who have a Gold IRA, are you feeling more confident about your position now than you were a year ago? I’m particularly interested in hearing from anyone who rolled over a substantial amount, especially if you came from a similar industrial background. Did anything surprise you, good or bad, after you made the move?

It’s not just about my retirement, either. My kids are starting to think about their own futures, and I want to set a good example. If this inflation trend continues, traditional paper assets are just going to get eaten alive. Thinking a lot about all this down here in Alabama.

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3 comments

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Best Answer▲ 8 upvotes

janet_cook📊Growing (50-100k)

Totally get where you're coming from. My dad worked for GM his whole life and had a similar rollover situation with his pension. He ended up putting a good portion into a Gold IRA after seeing how crazy the market got in the late 2000s. He always says it was one of the best decisions he ever made for peace of mind, especially with all the inflation talk now. Hope you find the right path for your situation!

Comments (3)

janet_cook📊Growing (50-100k)•about 2 months ago

ashley_baker💼Starter (0-50k)✓ Verified•about 2 months ago

This is a super interesting situation. You mentioned putting a "chunk" of that $300k into a Gold IRA. What percentage are we talking here? Like, was it a small hedge, or did you go all in on the gold for that portion?

betty_king📊Growing (50-100k)•about 2 months ago

Hey, I totally get the anxiety about inflation, especially with your background. Tangible assets like gold definitely *feel* safer when things are uncertain.

That said, I wonder about putting *all* your eggs in the gold basket, even a big chunk. While it historically holds value, it doesn't really generate income or dividends, unlike some other investments that can also be inflation hedges. Just something to consider for diversification beyond just precious metals.

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