Not Your Average Financial Podcast™

Episode 209: What’s Wrong with Self-Directed IRAs?


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In this episode, we ask:

  • Would you like to join us for the Not Your Average Financial Summit?
  • Are you a member of the Not Your Average Community? Join Here
  • What about Self-Directed IRAs?
  • What happened on Labor Day of 1974?
  • What is ERISA?
  • What about IRAs and 401(k)?
  • What about saving for retirement on your own?
  • What is an Individual Retirement Arrangement?
  • What about employer’s qualified pension plan?
  • Can an IRA be tax deductible?
  • Is an IRA tax deferred?
  • What was the annual amount that could be added to an IRA in the 70’s?
  • What about the Roth IRA?
  • What is the current annual amount that can be added to an IRA in 2021?
  • What about prohibited transactions?
  • What are the taxable dynamics and potential penalties?
  • What about flexibility and control?
  • When was the Self-Directed IRA born?
  • Can one find Self-Directed IRAs in the tax code?
  • Can there be other types of Self-Directed qualified plans, like a Self-Directed 401(k)?
  • What about a Self-Directed LLC?
  • What about real estate investing?
  • What can be included in a Self-Directed IRA?
  • Are alternative investments aloud?
  • Is an alternative investment a good idea?
  • What about custodial agreements?
  • What are the little pitfalls that could cause massive issues?
  • What about additional tax returns?
  • What about annual reporting?
  • What are the risks?
  • What are prohibited transactions?
  • What is considered improper use?
  • What about setting up a corporation?
  • What about investing in your own business?
  • What is the assumption?
  • Can you borrow from your IRA?
  • Can you use your IRA as collateral?
  • Do all these rules sound like freedom?
  • Can you purchase property that you and your family use?
  • What are the options?
  • What about purchasing real estate inside of an IRA?
  • What about a REIT?
  • What about owning a rental property or fix and flips inside of an IRA?
  • What are the problems of owning real estate inside of an IRA?
  • What about purchasing real estate outside of an IRA?
  • What about heirs?
  • What substantial cash needs for maintenance and property taxes?
  • Will $6K be enough?
  • What happened to all of the options?
  • What about RMDs or required minimum distributions?
  • Will a Roth IRA have RMDs?
  • What about the 50% penalty?
  • What about the annual appraisal?
  • What about filing with the IRS?
  • What about paying for a bookkeeper inside of your IRA?
  • What is the uniform lifetime expectancy table?
  • What if you have to sell your real estate?
  • What happens if the market crashes?
  • What about the unknowns?
  • What about the gains and losses?
  • Can you claim depreciation or cost segregation for real estate inside of an IRA?
  • Is real estate liquid?
  • Will real estate perform better than other options?
  • What will the long term risks be?
  • Will you need an IRA for a source of income in retirement?
  • Will you be forced to sell your property at the wrong time?
  • What about selling stock?
  • What about selling an entire building?
  • Is there a third option?
  • What about a fixed indexed annuity inside of an IRA?
  • What about an example?
  • What about other qualified plan options?
  • What are the problems?
  • What are the additional expenses?
  • What about the potential loss?
  • Would you like to continue to learn more?
    • Episode 183 Bank on Yourself® and Crypto
    • Episode 181 Bank on Yourself® and Real Estate Tax Problems
    • Episode 161 and Episode 162 Bank on Yourself® and Real Estate Investing
    • Episode 41 Bank on Yourself® and the Asset Class of Real Estate
    • ...more
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