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What To Do If Your Self-Directed IRA Falls Victim to a Scam
Nobody wants it to happen. Being the victim of a scam is a lousy feeling, especially if the scam targeted your Self-Directed IRA. However, in the unfortunate event that it happened, what should you do? Is there any way to report the scam? What about recovering the funds that were stolen? There is no one right answer for every situation, but there is a series […]
Read MoreThe 8 Commandments of Protecting Your Self-Directed IRA from Scams
Now that we’ve explored the red flags associated with scams and specific scams that can target a Self-Directed IRA, it’s time to turn to protection. What follows are practical suggestions that can help minimize the chances of you falling victim to a scam. There are never any guarantees in life, but by observing a few simple rules, you should be able to keep your Self-Directed IRA safe. Research the investment When […]
Read MoreAvoiding Scams in a Self-Directed IRA Part 2 – Your Self-Directed IRA Should Watch Out For These Scams
Now that we have discussed educational resources and scam red flags, let’s get specific. There are a number of different kinds of scams that can target a Self-Directed IRA, but they all share the same basic structure. They offer some kind of alternative asset or system that is hard to find elsewhere, they make an extremely enticing claim regarding returns, and often there will be some kind of time-based push to get going. Let’s examine a few of the more […]
Read MoreAvoiding Scams in a Self-Directed IRA Part 1 – Education and Red Flags
Growing your Self-Directed IRA can be challenging even in the best of conditions. You have to evaluate potential investments, manage existing assets, and make sure that all the legal paperwork is maintained. What you don’t want to worry about is immoral scammers who are looking to make a fast score. Unfortunately, this kind of crime is a reality and it’s pervasive enough that investors need to […]
Read MoreHow To Avoid Paying Extra Taxes and Penalties in a Self Directed IRA Part 4 – Prohibited Transactions
If there is one topic that dominates a lot of the Self-Directed IRA content, it’s prohibited transactions. The concept has become something of a bogeyman for Self-Directed IRA investors with articles warning in capital letters about its inherent dangers. There is no denying that in the context of a retirement account, committing a prohibited transaction is a bad idea. It can rack up […]
Read MoreHow To Avoid Paying Extra Taxes and Penalties in a Self-Directed IRA Part 3 – Excess Accumulations
Self-Directed IRA account holders have a greater obligation to be aware of the IRS rules. Since they take a more active role in their retirement investing, they don’t always have the safety net which comes with an institutionalized platform. Usually this required awareness pertains to the improper use of Self-Directed IRA funds. The account holder could potentially take the funds out too early or invest them in a way deemed prohibited. But what about the opposite case? Can […]
Read MoreHow To Avoid Paying Extra Taxes and Penalties in a Self-Directed IRA Part 2 – Early Distributions
When the government drafted ERISA, it was with the intent to incentivize Americans to save for retirement. It worked by giving them a tax break to keep their money in a special account and not touch it until retirement age. Well, what happens if you don’t play by the rules? Specifically, what happens when you feel a need for cash and take funds out of […]
Read MoreHow To Avoid Paying Extra Taxes and Penalties in a Self-Directed IRA Part 1 – Collectibles
Retirement plans have a built-in incentive of tax savings. This could be a tax deferral with a Traditional IRA or full tax freedom on growth with a Roth IRA. In either case you don’t want to ruin your economic gain by doing something that the IRS will charge you for. This is especially true in Self-Directed IRA accounts. Investors have more freedom […]
Read MoreThanksgiving and Retirement: Planning and Diversifying
After spending an October filled with Halloween costumes, apple picking, pumpkin carving, and leaves changing colors, it’s time to start preparing for Thanksgiving. Who are you going to share your table with this year? What types of foods will you be preparing? What time will you be serving dinner? These are just a few questions […]
Read MoreSelf-Directed Roth IRAs and the 5-Year Rule
The Roth IRA is a popular choice for self-directed investors due to the nature of alternative assets. A Self-Directed Roth IRA account allows investors to avoid tax liability on potentially large profits, as well as avoid RMDs in assets where the process may prove administratively challenging. However, there are some regulations unique to the Roth IRA and these apply in self-directed situations as well. One of […]
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