The Chief Business Development Officer for New Direction IRA, Clay Malcolm joins me on today's podcast. I have been doing business with New Direction for many years and have nothing but great things to say about them.

Clay and I discuss what IRA (Individual Retirement Accounts) accounts are and how an investor can use them as an income source. We explore the process and the benefits that an IRA offers investors. Clay explains what New Direction's role is in the IRA agreement and how his company makes the experience as painless as possible.

MINUTE MARKERS

00:00 -- Introduction to the Big Mike Fund Podcast.

00:22 -- Welcome Clay Malcolm.

00:48 -- New Direction IRAs awesome service.

01:23 -- What is self-directed reinvesting?

01:33 -- My personal experience with New Direction.

02:15 -- What is an IRA and what are the benefits of one?

03:38 -- The standard IRA account opening process.

04:24 -- The benefits of having control in investment decisions.

05:47 -- How loans are a great marriage with IRA accounts.

08:45 -- What New Direction does for its clients.

10:12 -- What is underlaid business income tax (UBIT)?

11:06 -- How UBIT works in a traditional investment situation.

17:32 -- My strategy for avoiding UBIT.

23:22 -- The second option with my strategy.

24:06 -- How my strategy benefits the business partner or financial friend.

27:21 -- Clay s reaction to my strategy.

30:06 -- Other applications of my strategy.

31:05 -- The cryptocurrency craze and does it qualify as an investment?

32:57 -- The risks of cryptocurrency.

34:16 -- Unusual investment choices Clay has seen in the past.

35:14 -- How Bitcoin works in a real economy.

37:13 -- The evitable evolution of Bitcoin.

38:11 -- New Direction now offers an option for cryptocurrencies.

40:00 -- A general conversation review.

41:07 -- The webinar I am doing in partnership with New Direction IRA.

41:38 -- How to contact Clay.

42:33 -- A special thank you to Clay Malcolm and the audience.

RESOURCES

TF Management Group

New Direction IRA

New Direction IRA Contact Information