Thanks Adam. As for mechanics- can you provide an example of a newborn or young child self-funding a Coverdell ESA with IRA Financial? Specifically if they want to use funds gifted to them when they do not have their own savings/debit account? For example, does the high-earner grandparent gift to the child in the form of a check written directly to the child? What's next? Does the child sign-over the check to Schwab/their Schwab account -- with the parent signing the back of the check? Or do you run it all through a UTMA? Or convert cash to a money order?
Did you ever do a video on when you own a rental property in a self directed and Srlf directed IRA LLC…and what are the tax consequences when you sell the real estate. ? We are your clients at IRA Financial. This property is a beach rental currently, and owned in a non Roth accounts
I absolutely did not want to sit through an hour long lecture about finance, but I'm really glad I did. I had no idea how much I didn't know - but I feel like I understand the main points now; and then some. Thank you, Adam.
Thanks for the perfect update. I really appreciate the dedication in each video you post.The first step to successful investing is determining your goals and risk tolerance, Most people you see as wealth at a glance, a great career, purpose is the result of hard work and remains over time. There are no shortcuts to getting rich but there are smart ways to go about it. Now I can say that thanks to Ms. Kim Berthold I am improving my understanding of this whole world and making new big profits every week.
Productivity is never accidental; it is always the result of careful planning, dedication, and consistency. I am grateful to God for my advisor, MRS Kim Berthold
For the transfer of the house from traditional to Roth IRA - can you convert just _part of the house_ (say, 50% ownership) from one to the other? The is would allow you to manage the tax hit over multiple years.
Not sure if you said it, but for the fix and flip guy, _you can’t do the fixing yourself._ You have to hire out the physical work. This is something Adam has covered in detail in several other videos! (And thanks - that’s where I learned it!
Could you do a video where you diagram the separate employer and employee accounts that must be maintained within the Solo401k. Include the Roth account in diagram. Show how employer and employee deposits get made into the respective Tax deductible and Roth accounts. Case study 1: I have a 401k at an old employer with $500k and want to transfer that money into a Solo401k that I ve opened thru IRA Financial Group. I also have IRA monies of $100k that I want to transfer into the Solo401k. Once the monies are in my Solo 401k I want to convert 200k each year into a Roth. Is the Roth account the same Roth account that I make new Roth contributions to each year.? How do I purchase assets, in what account name, same or different Roth names? Case study 2: I have monies from an old 401k rolled over into , combined with other IRA monies. I open a Solo401k thru IRA Fin Group. Those IRA monies are invested in mutual funds ,stocks and bonds in a self directed IRA at (Schwab,Fidelity,etc.) Can I transfer some assets in kind to the Solo401k and then convert to cash later to buy RE or should I liquidate and convert to cash at old custodian to make transfer go quicker? I may want to own some of the same securities in the Solo401k .
Been a client for almost 2 years. The RU-vid content is what brought me to IRA Financial Trust. Bought the digital book and went through in one sitting. Helpful as always. Had one quick clarification on using a US C-corp blocker for US real-estate investments. Can the US C-corp blocker use recourse debt, like an individual usually would to acquire more leverage, without the IRA investment in the C-corp triggering UBIT?
Staying abreast of the latest trends and strategies is crucial for traders to stay ahead and make well-informed decisions. Beginners in trading and investing must recognize that success in these fields demands technical analysis, emotional maturity, and self-discipline. Thanks to Monica Lisa Payne insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead!
Congratulations on the new book. Regarding the self-directed iRA, can you borrow from the account, for example can i take out a loan from a self-directed holding Bitcoin rather than having to self the bitcoin?
Thank you! Unfortunately, SDIRAs do not have a loan option. Please contact our team at clientrelations@irafinanial.com or call us at 1-800-472-0646 to discuss potential solutions for your situation.
Yes, BOI report to FinCen needs to be done. Please contact our team at clientrelations@irafinanial.com or call us at 1-800-472-0646 for any assistance you many need with this!
Opening an Roth IRA for children is always a good idea! Please contact our team at clientrelations@irafinanial.com or call us at 1-800-472-0646 if you would like to explore this more or learn how you can get the Roth IRA free until your grandson turns 18!
You would need to hire out cleaning services and cannot live in the AirBnB. To discuss this more in depth, please contact our team at clientrelations@irafinanial.com or call us at 1-800-472-0646
Do you work with any brokerage firms that offer margin accounts (ie non-recourse margin loans with securities as sole collateral) for LLCs owned by a Solo 401K?
We would love to discuss your unique situation. Please contact our team at clientrelations@irafinanial.com or call us at 1-800-472-0646 to go over the best strategy!
Multiple LLCs could if they are listed correctly as adopting employers on the Solo 401(k) - their EIN would need to sponsor the Solo K. Please contact our team at clientrelations@irafinanial.com or call us at 1-800-472-0646 to discuss this further.
If you wish to buy gold, silver or any precious metals take delivery of whatever you buy YOURSELF ! No buying paper, IRA's or the like, at least YOU WILL HAVE POSSESION of it. There are alot of scams where you lose your money AND the metals. Safes are easy to install, plus there are other ways to secure your investments......but not via some unknown source!
I'm leaving my employer that has been providing tuition reimbursement for a few years. Their policy is that if I quit then I have to pay therm back what they've paid me in the past 12 months. Would that be covered as well as future expenses?