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

In this episode, we ask:

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• 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?
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  • 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