In this episode, Larry and Kandas talked about self-directed IRA accounts. They went through the different types of accounts as well as the benefits of each.

Topics:

• Deal of the week

• Companies they use and work with

• Different types of accounts

  • Traditional and Roth IRA

  • SIMPLE (Savings Incentive Match Plan for Employees)

  • Regular 401k and Solo 401K

  • Safe Harbor 401k

  • SEP (Simplified Employee Pension)

  • Health savings account

  • Need to have a high-deductible health plan (HDHP)

  • Using as a retirement account

  • ESA (Education Savings Account)

  • Cannot be used for home schools

  • Qualified education expenses

  • You can change the beneficiary of the ESA multiple times

Quote:

• "Not all healthcare plans that have a high-deductible are an HDHP plan."