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What You Need To Know About Self-Directed IRA's

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Manage episode 113114071 series 30339
Content provided by Steve Stewart. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Steve Stewart or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

#193: Many people are being lured by the attractiveness of directing their own retirement plans. The trick is to do it right and have an asset, business, or income-producing entity that makes sense for YOUR retirement planning.

Kirk Chisholm is a Wealth Manager, Economist, & Principal at IAG. He is also an expert of investing in alternative investments in self-directed IRA / 401k.

Full notes at https://moneyplansos.com/what-you-need-to-know-about-self-directed-iras-mpsos193/

Key takeaways from our discussion:

  • Self-directed IRAs are a great arrangements for making non-traditional items become tax-deferred investments
  • There is no guidance for what you can put into a self-directed IRA
  • There are some unusual things people have turned into self-directed IRA investments
  • A 1031 exchange is not a self-directed IRA
  • We learn where a wealth manager fits into an individual's self-directed IRA plan
  • There is no certification for someone to become a self-directed IRA administrator
  • Kirk encourages you to pick things you know well

How taking one step back can make you feel a little bit richer <33:47>

  • Stop
  • Take a step backwards
  • Close your eyes for 1 second
  • Open your eyes

Imagine your life 10 years ago and tell me you don't feel just a little bit richer

Ponda from the Honda <42:09>

She blew $20k of college savings on clothes and a European vacation.

  continue reading

201 episodes

Artwork
iconShare
 
Manage episode 113114071 series 30339
Content provided by Steve Stewart. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Steve Stewart or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

#193: Many people are being lured by the attractiveness of directing their own retirement plans. The trick is to do it right and have an asset, business, or income-producing entity that makes sense for YOUR retirement planning.

Kirk Chisholm is a Wealth Manager, Economist, & Principal at IAG. He is also an expert of investing in alternative investments in self-directed IRA / 401k.

Full notes at https://moneyplansos.com/what-you-need-to-know-about-self-directed-iras-mpsos193/

Key takeaways from our discussion:

  • Self-directed IRAs are a great arrangements for making non-traditional items become tax-deferred investments
  • There is no guidance for what you can put into a self-directed IRA
  • There are some unusual things people have turned into self-directed IRA investments
  • A 1031 exchange is not a self-directed IRA
  • We learn where a wealth manager fits into an individual's self-directed IRA plan
  • There is no certification for someone to become a self-directed IRA administrator
  • Kirk encourages you to pick things you know well

How taking one step back can make you feel a little bit richer <33:47>

  • Stop
  • Take a step backwards
  • Close your eyes for 1 second
  • Open your eyes

Imagine your life 10 years ago and tell me you don't feel just a little bit richer

Ponda from the Honda <42:09>

She blew $20k of college savings on clothes and a European vacation.

  continue reading

201 episodes

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