You’re a self-directed investor.  Do you think that there’s no difference between a vote for Trump and a vote for Hillary?  Think again, my friends.  A new legislative proposal is out that directly attacks self-directed IRA’s specifically, and this leads to the CLEAR and RATIONAL conclusion that the difference between the candidates is huge.  I’m Bryan Ellis. I’ll spell it out in CRYSTAL CLEAR LANGUAGE RIGHT NOW in Episode #229.

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Hello SDI Nation, welcome to the podcast of record where we help you to declare independence from Wall Street and build a financial legacy for future generations.  Today I’ll do that by helping you to understand what’s at stake in the upcoming presidential election that’s directly relevant to YOU as a self-directed investor.  Just a heads up… in today’s show, you’re going to hear me refer to today’s show notes page a few times.  That page is SDIRadio.com/229 and it’s got some really important, profoundly relevant things for you.  So when you hear me refer to today’s show notes page, know that I’m referring to SDIRadio.com/229.

First – folks, you’ve doubtlessly heard of my friends over at Fund & Grow.  These guys are absolute magicians when it comes to helping their clients acquire zero-interest lines of credit… lines of credit that are essentially just signature loans, not even secured by real estate or anything else.  Think about that, folks… what if you could finance that real estate deal using a zero percent interest loan?  It’s a game changer, and that’s exactly what my friends Ari and Mike over at Fund & Grow do.  I say they’re magicians, but in truth, they just follow a great, great process that’s very reliable.  For people with decent credit or better, it’s totally achievable to reach $250,000 in zero-interest credit… and my friends, they’ve actually generated over $2.9 million worth of that type of credit for your fellow listeners just this year alone.  So my recommendation?  Check them out, and do it now… at SDIRadio.com/credit.  Again, that’s SDIRadio.com/credit.  You’ll be glad you did.

My friends, have you heard of the poorly named Retirement Improvements and Savings Enhancements Act of 2016 – aka the RISE Act proposal?  Probably not… but as a self-directed investor, it’s HUGELY relevant to you, because it’s an all-out attempt to gut your rights to use a self-directed IRA in the ways that work best.  I’ll tell you specifically how in just a minute, but you really need to understand the background.

During the presidential battle of 2012, Mitt Romney made the shocking revelation that he owned an IRA worth as much as $102 MILLION.  When I heard that, I thought WOW!  I want to be like him when I grow up!  But when certain people in Congress heard about it, all they could see was “THE RICH GET RICHER” and “THAT’S UNFAIR” and “he couldn’t do that legally”.

All of these things are, of course, just the typical babblings of intellectually dishonest politicians who – let’s be honest – don’t give one little damn self directed IRA’s or about you.  What they do care about is appearing to their constituents – at least half of whom are below the average national income – that “I’m on your side and I’ll punish those rich guys who are getting rich at your expense.”

It’s absolute garbage… it’s simple-minded reasoning for simple-minded constituents who have been trained by government schools, the media and our self-obsessed culture that success should be attacked rather than emulated.  If you agree with that – that success should be attacked rather than emulated – then you should stop listening to this show right now, because I’m not interested in having you as a listener.

But if you understand, you agree that success is laudable, good and praiseworthy, and you agree that success leaves clues that the rest of us can follow, then listen on as I explain how we got to the threat of the RISE act that we face today.

One particularly class envy-oriented senator, Ron Wyden, Democrat from Oregon, appears to have really gone bankers over the fact that some people had become very successful using their IRA’s… so much so that he demanded that the Government Accountability Office perform a study to find out how big the “problem” was, and how it was that anyone could ever build that much wealth.

That last part is a legit question.  Most IRA’s have a max contribution of 6 grand per year or so, and even if you got a long-term profit rate of 8% per year, it would still take more than 90 years to get to $100 million.  Clearly, Romney isn’t 90 years old, so how’d he do it?

Well, Romney didn’t break any rules.  We don’t really know what he did to accumulate such an impressive sum, but here’s my guess... and that’s all it is is a guess.  Remember that Romney was became rich as a venture capitalist specializing in business turnarounds and restructuring.  In other words, it was his JOB to find companies that were headed towards or already in bankruptcy – and thus essentially worthless – and to turn those companies around in such a way as to make a big profit.  And I suspect, after Romney had been doing this for a while and was very good at predicting which companies could be successfully turned around before it happened, he started to acquire shares of these companies in his self-directed IRA BERFORE he turned them around while they were available at very, very low prices.  You know, a company in bankruptcy is not expensive to buy.  So maybe he’s able to acquire thousands or millions of shares of a company for a few pennies per share.  He then works his magic as a turnaround expert and brings that company back from the brink of bankruptcy and causes those shares he bought for a few pennies to be worth a dollar, or 5 dollars or $100 dollars or more.

And I suspect he did this many times.  And with that, it suddenly becomes very, very plausible to accumulate as much money as Romney did.  Again, that’s just my guess… only Romney really knows… but I bet it’s pretty close to this.

Well, like I said, this revelation drove Senator Wyden insane with class envy. He commissions the GAO study I mentioned to you a moment ago, and what was revealed is that this issue of “mega IRA’s” like Romney’s isn’t a particularly big issue.  There’s a total of about 9,000 IRA’s in the entirety of America with a balance of greater than $5 million, most of whom are formerly high-earning retirees.  There are more than 9,000 people within 5 miles of my house.  That’s a tiny number.  So clearly, there’s nothing to see here in terms of a real problem.  Frankly in my mind, it wouldn’t be a problem if there were a million huge IRA’s… but the way I think is very different from the way Senator Wyden thinks.

Which leads us to the RISE act proposal… and its connection to the Trump vs Clinton battle.  But unfortunately, we’re out of time- past time actually – in this episode.  So let’s do this:  The next episode with the Trump/Clinton connection is up and available RIGHT NOW at SDIRadio.com/230.  Again, that’s SDIRadio.com/230… so please, go there right now and check it out, because nothing could be more TIME SENSITIVE or RELEVANT to the safety and security of your self-directed IRA.

My friends, invest wisely today, and live well forever!

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