The law allows for many assets, including metals and/or other physical property to be included in a 401k; the individual plans usually have less flexibility and don't allow that, but sometimes they do, you have to read the plan document to be sure. If you've left the employer, you can roll it over into anything the law allows, as long as you have a fiduciary custodian (bank, trust company, savvy asset manager) that allows you to.
It can be physical, but somebody else has to hold it. There's always a wall between you and the asset, to make sure you can't liquidate or earn money off of it to transfer money out of the retirement plan. That wall = somebody else (bank, wealth manager, etc.) that the IRS already approved.
How can you convert a 401 to anything w/o taking a distribution and penalizing yourself?
you can also take the funds out and only pay taxes, not the usual penalty. Trump got rid of the penalty when he declared COVID emergency
The law allows for many assets, including metals and/or other physical property to be included in a 401k; the individual plans usually have less flexibility and don't allow that, but sometimes they do, you have to read the plan document to be sure. If you've left the employer, you can roll it over into anything the law allows, as long as you have a fiduciary custodian (bank, trust company, savvy asset manager) that allows you to.
Awesome, thanks! Does this mean you hold something like SLV, or can you convert a portion to physical silver?
It can be physical, but somebody else has to hold it. There's always a wall between you and the asset, to make sure you can't liquidate or earn money off of it to transfer money out of the retirement plan. That wall = somebody else (bank, wealth manager, etc.) that the IRS already approved.
Makes sense...thanks, fren!