September 12, 20241 yr Anyone here have a guy/gal? I have a couple of years to figure this out but I will have a large financial decision to make upon an event that is coming up, and it is likely that this is one of the options to pursue until I am actually retirement aged. Just past 50 now, so the 55 early retirement age and the 59.5 age don’t apply yet. My main concern is a) don’t fuck up tax treatment, b) actually diversify. I am incredibly concentrated right now, like 90 percent plus of my net worth in one investment that has been fantastic but is a pre tax retirement vehicle.
September 12, 20241 yr Roth conversation an option? Assuming numbers make since and other variables. Edited September 12, 20241 yr by Mother mopar
September 12, 20241 yr Author Probably not given my current income, but if I stop earning then an option. Definitely a discussion worth having. Full disclosure I’ve never felt having a financial advisor was necessary before.
September 12, 20241 yr Subscribed. I am told a man can use a self-directed IRA to invest in real estate? Is that true?
September 12, 20241 yr I have a self directed ira through directed ira. hassle free. converted an old ira to a roth. rolled the roth to directed ira. invested proceeds into a private company through an investment partnership thats and LLC. Roth will either go to 0 or have a really high multiple so the roth wrapper for the investment will allow me to essentially have the investment tax free down the road if it hits. If it goes to 0, then i still have money for beer. your self directed ira can be either a roth or traditional. you can essentially invest in anything in a self directed ira.
September 12, 20241 yr Are you looking to put non-traditional assets (e.g., real estate, non-publicly traded stock, etc.) into a self-directed IRA?
September 12, 20241 yr 5 hours ago, Hefeweizen said: Anyone here have a guy/gal? I have a couple of years to figure this out but I will have a large financial decision to make upon an event that is coming up, and it is likely that this is one of the options to pursue until I am actually retirement aged. Just past 50 now, so the 55 early retirement age and the 59.5 age don’t apply yet. My main concern is a) don’t fuck up tax treatment, b) actually diversify. I am incredibly concentrated right now, like 90 percent plus of my net worth in one investment that has been fantastic but is a pre tax retirement vehicle. I am a CFP. Whats the actual question? You can DM me if you want to put more color there
September 12, 20241 yr Author 31 minutes ago, midtown said: I am a CFP. Whats the actual question? You can DM me if you want to put more color there Actual question? Who should I be talking to when I’m ready to set up a custodial account, what should it cost, what kind of mistakes should I avoid, etc? Not investment advice but how this stuff works.
September 12, 20241 yr Author 4 hours ago, 52-80 said: aight there peter thiel I’m planning on buying tether and becoming a criminal mastermind for my next career
September 12, 20241 yr 4 hours ago, Parliament said: Subscribed. I am told a man can use a self-directed IRA to invest in real estate? Is that true? You can. So long as the real estate isn't used by immediate family and is for investment purposes... i.e. can't buy an apartment near campus and have your kid live there. All payables are paid by the IRA (property taxes, insurance, upkeep, etc) and all receivables are paid to the IRA (rent, usage leases for crops/cattle, etc) It can get complicated. Not to mention that since you'll more than likely have to pay cash for any properties (it's hard to get a mortgage in an IRA, but not impossible) and the property is growing in an income tax deferred realm, you will lose depreciation and other deductions normally afforded a real estate investor.
September 12, 20241 yr I used Equity Trust for an O&G investment into some Non-Op WI. It was pretty easy but the fees were too much IMO.
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