In this clip we talks about self directed IRAs and gave step by step instructions on how you can invest in real estate using your retirement account funds all while avoiding any taxes. #ira #selfdirectedira #realestate
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Moved money from 401k to self directed IRA but my financial institution won't let me touch the money without penalty.
This was perfect! Thank you!
Do you have to have self employed income to qualify for a self directed IRA?
I want to do this. I have $45K in my Roth IRA.
I did this, and picked the wrong folks to deal with. No money was stolen, but the deal was horribly managed. Lost $40K never again, Stocks are simple and passive after purchase. I’ll still with my index ETFs.
I have a self directed IRA. I borrowed from it to buy out my mortgage. Now when i pay my so call mortgage i'm paying it back to my IRA at a 4.25% instead of paying to a bank. You can do a lot with a Self directed IRA. However, you have to have self employed income to qualify for it. That's the biggest difference between IRA and Self direct IRA.
just learned yesterday that you can trade Forex via a self directed IRA. shitttt, probably can trade options and futures as well.
Borrowed from my 401k in 2016 to buy a rental property. My job at the time deducted from my check until it was paid back. Fast forward two years and rolled it into an IRA when I left corporate and purchased a duplex…got taxed like a mug! Lesson learned. The fact that I had read about self-directed and didn’t think to go that route. Glad I have the property but definitely lesson learned.
I use my self directed IRA to buy physical IRA gold and silver that is held in a vault. Upon retirement I will take delivery of it. Just something else you can buy through your self directed IRA.
Right on the nuts…thanks!!!!++!!!!
Thanks for the information!
My wife, me, and my kids have self directed solok and we buy real estate with it.
There different types of IRA's
Shoddy in da building. Thanks for the information gentlemen.
I think I missed a step, specifically the 'HOW those funds are actually accessed if it stays in the IRA??'
….Once I roll over my funds into a self directed IRA I can technically "take receipt" of the funds (or the portion of the funds) and then I have 60 days to replace the funds??
What steps did I miss?
For instance, if I want to start a private practice and I just rolled monies over into a self directed IRA, do I contact my brokerage company and request to “take receipt” in order to use those funds to purchase a brick-n-mortar/lease a space? What do I tell my agent and lender?
Rental income from debt-financed property held within an IRA might be subject to a tax called Unrelated Business Income Tax (UBIT). This tax normally applies to tax-exempt organizations and is detailed in IRS Code Section 512-514. The tax rate is the same as the corporate tax rate which is 21%. State UBIT rates might also apply. So, although there might be an income tax benefit to purchasing real estate within an IRA, keep in mind the unrelated business income tax obligation. Happy to share more this on this topic if interested. Love the show!
Opened a self directed IRA with TD, I was under the impression you don’t get penalized for taking out money if it’s towards paying back a student loan or buying a home..
you could barrow money from your 401k but it have to be a life changing event such as "COVID 19" but you have to pay it back in 3yrs are else thats where the penalties are taxes come in…not just speaking because I'm speaking from experience.
You also can't use your own money for any fixings of the property. All dollars have to come from the self-directed IRA.
Another one…Khalid Voice
What's wrong with the YouTube Page. I cannot browse through videos on the page it shows no content??
Thanks for the info, good to know different options like you said. One question: if you leave your job and roll over an old retirement account, can you split it up and roll part of it over to a Regular IRA and another portion to SDIRA?
You should elaborate on a Roth Self Directed IRA &/or SEP.
Can you roll over a traditional tsp into a self directed ira?
roth ira, self directed ira, and traditional ira
Do I have to pay taxes if I want to move my 401k into a traditional IRA?