Archive for November, 2013

Is Financial Advice Always Sound?

Thursday, November 28th, 2013

I love reading about financial help and there is no shortage of it out there. It seems like everyone and their dog are dishing out financial help. You will find help on saving money, investing, retirement and so on. With so much information out there how do you know which information is good or bad? It can be hard. I tend to go with my gut. Everyone has different situations and so different info might work for them and not for others. I stumbled upon a great video that goes over some common advice that many people give that could actually be bad advice for some. The video is directed at youth who are just starting out in the real world. Do you agree with the following advice?

I agree with the advice they give but I do have a spin on the myth save, Save, Save that they talk about. They say that even if you have to stretch a little bit you should try and travel in your youth. I think that traveling is something that can really help someone to grow. It brings enlightenment, and knowledge to you. It helps you understand other cultures and other ways of living. It is a very positive thing for the most part. My spin though is this.. Why make traveling something you have to stretch to do? Why not save for a few months, a year so that you can go while you are young? If you can’t afford to travel somewhere far away and exotic why not save until you can? If that still isn’t realistic, why not save for a trip much closer to home? You can find some great experiences in your own back yard. Take a road trip and discover your own country, state or even city? There are so many ways you can travel that give you the basic benefits of traveling far away. I think we can find a way to save enough to go on a vacation. Sometimes you will just have to change the destination. I’d never tell anyone to not save.

At Accuplan we specialize in self directed IRAs and 401Ks. If you aren’t sure what a self directed IRA or 401k is then follow our previous links for some help. We can help you take your IRA or 401k and invest into things like real estate, gold or even business. If you are trying to take control of your own retirement a self directed retirement account is a great option. For youth out there that are just starting I would say investing in an IRA or 401k if possible is a very solid bit of advice. The earlier you take advantage of these retirement accounts the more impact it can have in your later life.

Contact us at any time for your retirement advice, especially with self directed IRAs and 401Ks

Author:

Happy Thanksgiving from Accuplan

Wednesday, November 27th, 2013

Thanksgiving
Happy Thanksgiving! We hope that you have a very safe and healthy start to your holiday season this week. No matter what you are thankful for we hope you can take a moment to remember what you are thankful for.

Checkbook Control With Your IRA

Wednesday, November 27th, 2013

Most IRA Custodians place many restrictions and require their clients to invest in company-run funds and securities and not so much in non-traditional investments where they have less control. When a traditional custodian does allow non-traditional investing, they usually attach so many fees that such actions are therefore deterred.
 
Restrictive plan documents and fees are the major reasons for the stringent air that surrounds IRAs, not federal tax law. With checkbook control of a self-directed IRA, also known as a checkbook IRA, an investor can avoid most of the fees charged by traditional custodians and most of the investment restrictions. Checkbook control simply means that the investor can write checks for investments and investment expenses directly from his or her IRA without an intermediary.
 
Checkbook control is crucial for investing in real estate. Real estate transactions (residential and commercial) usually involve all sorts of extra costs that must be paid directly from the IRA. If you generate custodian fees every time you pay one of these costs, your profits can take a serious beating. When you start looking for self-directed IRA providers, pay close attention to their fee structures.

Time, Real Estate, and Checkbook Control

Real estate is all about location, location, location, but real estate investing is also about timing, timing, timing. Probate properties and tax lien properties (where some of the greatest profits lie) can go quickly and you may not have time to clear the investment with your custodian. With checkbook control, you can act immediately and hopefully before a bidding war starts.

How does it work:

  1. Setup American Estate and Trust as the custodian who handles self directed IRAs (Accuplan assists with this process).
  2. Create the LLC (Accuplan creates the LLC along with a very unique and special operating agreement). You can operate as the Manager.
  3. Transfer IRA to American Estate and Trust (custodian). Accuplan helps you do this.
  4. Setup checking account at a local bank.
  5. Direct custodian to transfer money to LLC in the form of purchasing membership units in the LLC.
  6. Direct investments from the LLC.

ICO Diagram

If you have any more questions about a checkbook IRA feel free to call, email, or comment below.

Author: , Self Directed IRA Professional
1.801.683.9291
ben@accuplan.net