Heres whats going on right now, a family member died and left me an IRA for 140k and about 200-250k in an estate and combined assets (mutual funds and the like) so... I have some money coming to me and want to make a sizable purchase of physical silver and maybe some gold as well. The boat I am in right now is to wait 6mos-Year to get the estate/asset cash tax free. Or I can cash out the IRA... I talked to the financial adviser and he told me that if I close this IRA that I have (worth about 140k) that uncle sammy will take 35grand or so in taxes. I wanted to use about 60k of that money to invest in physical gold and silver with but now heres my situation:
1. take the hit on the IRA and invest in the next couple weeks.
2. wait until the rest of the estate is settled and buy pm's with money that is tax free. (the down side is that its may take 6mos to a year to get that money)
Any advice? This is killing me. I really don't want to wait because what if silver is $50bucks/oz by then.. any advise would be greatly appreciated.