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Re: Self Directed IRA
[Re: FreeStateHunter]
#3411069
05/19/21 08:12 PM
05/19/21 08:12 PM
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Joined: Jul 2011
Posts: 34,638 Boxes Cove
2Dogs
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 34,638
Boxes Cove
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Not all 401k plans will let you do a in-service transfer. Better check your plans "rules" before going any further.
Last edited by 2Dogs; 05/20/21 11:16 AM.
"Why do you ask"?
Always vote the slowest path to socialism.
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Re: Self Directed IRA
[Re: FreeStateHunter]
#3411256
05/20/21 08:51 AM
05/20/21 08:51 AM
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Joined: Jul 2010
Posts: 9,191 B'ham
Goatkiller
14 point
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14 point
Joined: Jul 2010
Posts: 9,191
B'ham
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I would not move money to an IRA from a 401(k) you can access the money after you turn 55 without penalty in the 401(k). This is all a rigged game IMO to fatten Wall Street's pockets and prevent you from being able to access YOUR money. The IRA was developed to ensnare folks into their web that don't work for a big company with a good retirement plan. I am not saying you should not save I am saying that is the truth about what these investment vehicles really are all about. You don't want Gubberment intrusion into your life to tell you how many deer you can shoot... but many of the folks on here are happy as a pig in poop for them to hold their money hostage.
No government employees were harmed in the making of this mess.
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Re: Self Directed IRA
[Re: DryFire]
#3411263
05/20/21 09:02 AM
05/20/21 09:02 AM
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Joined: Mar 2020
Posts: 7,113 Free State of Winston
FreeStateHunter
OP
They Call Me Gator π
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OP
They Call Me Gator π
Joined: Mar 2020
Posts: 7,113
Free State of Winston
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Be very careful. I tried that approach when a group of us bought a ranch. It must truly be an investment property, not something you would use on a personal basis. This is what I'm nervous about and I would be curious to know more about it. See in my simple mind an investment is an investment but i'm sure there's some obscure rule that says it has to be profitable with accounting statements and such each year. I havent delved that much into it yet.
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Re: Self Directed IRA
[Re: FreeStateHunter]
#3411266
05/20/21 09:05 AM
05/20/21 09:05 AM
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Joined: Jan 2017
Posts: 3,589 Lower Alabama
Andalusia
10 point
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10 point
Joined: Jan 2017
Posts: 3,589
Lower Alabama
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Talk to your accountant first
"If you are the smartest person in the room, you're in the wrong room"
"How you do Anything, is how you do Everything"
"It is the mark of an educated mind to be able to entertain a thought without accepting it"
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Re: Self Directed IRA
[Re: FreeStateHunter]
#3411320
05/20/21 10:42 AM
05/20/21 10:42 AM
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Joined: Nov 2011
Posts: 10,592
abolt300
Booner
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Booner
Joined: Nov 2011
Posts: 10,592
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Be very careful. I tried that approach when a group of us bought a ranch. It must truly be an investment property, not something you would use on a personal basis. This is what I'm nervous about and I would be curious to know more about it. See in my simple mind an investment is an investment but i'm sure there's some obscure rule that says it has to be profitable with accounting statements and such each year. I havent delved that much into it yet. It does not have to be profitable and yes the investment can operate at a loss, but you cannot use the asset/land/ranch/property for personal use. Otherwise, my IRA would own my primary residence and some hunting land, and office. My recommendation is that you be really careful on this. The IRS will take you to the cleaners if they were to audit you and you had a lake house listed as investment property that you and your family were using every other weekend.
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Re: Self Directed IRA
[Re: FreeStateHunter]
#3411330
05/20/21 10:55 AM
05/20/21 10:55 AM
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Joined: Jul 2010
Posts: 9,191 B'ham
Goatkiller
14 point
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14 point
Joined: Jul 2010
Posts: 9,191
B'ham
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I have a couple self directed IRAs that invest with our company. It's certainly something that can work but I don't see where the returns have been better than other investment choices. The returns have been good across the board in recent years I think we all know that. If the market takes a downturn then I am not sure investing in something like real estate with a self directed IRA would do any better under that scenario either. The problem with this is that you are not diversified and all your money is at risk. People lose everything they have in real estate every day all day long. It's not for the faint at heart, some kiss the paper and let it ride and make it. Others go 100% broke.
When I think about a self directed IRA I think taking that money and investing in something fixed like bonds (returns aren't there) or investing in a public utility or REIT that pays a good dividend. Something of that nature which is relatively safe from market fluctuations. However, I am just not sure it is a good idea at all.
If you think you are going to go invest in 40 acres of Timber on your own, or something like that, you are going to lose your ass.
No government employees were harmed in the making of this mess.
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Re: Self Directed IRA
[Re: Goatkiller]
#3411342
05/20/21 11:28 AM
05/20/21 11:28 AM
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Joined: Nov 2015
Posts: 21,454 HSV AL
jmudler
Freak of Nature
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Freak of Nature
Joined: Nov 2015
Posts: 21,454
HSV AL
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It's certainly something that can work but I don't see where the returns have been better than other investment choices. The returns have been good across the board in recent years I think we all know that. If the market takes a downturn then I am not sure investing in something like real estate with a self directed IRA would do any better under that scenario either. I This. When I have crazy ideas I ask myself would a multimillionaire do this.
Isaiah 5:20 Woe to those who call evil good and good evil, who put darkness for light and light for darkness, who put bitter for sweet and sweet for bitter.
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Re: Self Directed IRA
[Re: FreeStateHunter]
#3411400
05/20/21 01:04 PM
05/20/21 01:04 PM
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Joined: Aug 2001
Posts: 64,360 Luverne, AL
Skinny
GUVNER
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GUVNER
Joined: Aug 2001
Posts: 64,360
Luverne, AL
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There is a reason why the feds put a cap on how much you can put into a ROTH IRA. They dont want a bunch of untaxed money floating around.
Never Trust Government
"You can be broke but you cant be poor." Ruthie-May Webster
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Re: Self Directed IRA
[Re: FreeStateHunter]
#3411414
05/20/21 01:34 PM
05/20/21 01:34 PM
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Joined: Jun 2015
Posts: 14,051 Some Marriott/Auburn
AU7MM08
Booner
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Booner
Joined: Jun 2015
Posts: 14,051
Some Marriott/Auburn
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I have a similar thought FreeStateHunter. My little 25 acres is something that can be enjoyed, go up in value and be a good store of wealth. That's my hope/plan anyways. Currently, I and Alabama Ag Credit are co-owners.
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Re: Self Directed IRA
[Re: FreeStateHunter]
#3411458
05/20/21 02:43 PM
05/20/21 02:43 PM
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Joined: Feb 2015
Posts: 7,225 Meridianville
DryFire
14 point
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14 point
Joined: Feb 2015
Posts: 7,225
Meridianville
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All this is good information. I appreciate all the input fellas. For full disclosure a few of you hit on the points I was looking at doing. I hate having all my retirement money tied up in the market and I was just going to pull some out of the market and buy some land. I would feel more comfortable with a couple hundred $k tied up in real estate right now than with all my dollars tied up in an inflated market. I think there's another real estate bubble due to all the folks leaving the big liberal areas and its about to burst. When it does we'll see roughly a 20-30% correction in the market. That's going to be tough. Subscribe to Ken Moraif with Retirement Planner's of America weekly email. He gives a weekly market update every Friday. When he says sell, dump everything into Treasuries. He is the reason I lost zero in 2008. He didn't give the buy signal until June 2009. It's free and he has been very accurate with his market predictions. Yes, he is predicting a big market correction due to inflation and record Federal spending. But he doesn't see it happening this year. Here is his report from last Friday. Link
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Re: Self Directed IRA
[Re: timberman56]
#3411513
05/20/21 04:58 PM
05/20/21 04:58 PM
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Joined: Sep 2018
Posts: 2,274 Helena
700ltr308
8 point
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8 point
Joined: Sep 2018
Posts: 2,274
Helena
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Call IRA Innovations in Bham. Ive had an account with them for 8-10 yrs and been very pleased with their service. they gave me a book about all kinds of self directed investments that has been very helpful.. I've bought 3 land tracts thru them and made a very good return. keep account open 5 yr., roll profits back into account. after age 59 1/2 all profits are tax free. sounds good to me I was going say call IRA Innovations also.
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