I've been on the fence on this for about a year and I need a little nudge based on the feedback from those that have done this before. This is one of my retirement accounts, I have three others. It's not much, but it's something.
Goal is to put all the money into physical gold.
I'm going to lay out the details and let you have at it. I sold all the funds in the account back in April, so right now it just sits in cash.
- Traditional IRA in a variable annuity contract
- $14k total value, $11k premiums paid in
- 1.5% surrender charge (-$200 on the $14)
- 10% income tax bracket
The way I look at is that the account has earned ~27% and it will cost me less than that (~22%) to get at all those FRN's which could be a lot more safe a) in my hands b) in an asset with zero counterparty risk (ie gold) which is more than likely to outpace any paper investment by the time I'd need the money at retirement anyway.
What am I missing here? I'm not the type to make hasty decisions based on fear, but do think this could be a win in the long run.