Posted by Keith on November 09, 2007 at 21:02:22:
Thanks for jumpin’ in on this John.
You are correct that this is an employer plan. A self-directed employer plan. Not an IRA. Does that completly rule out any chance of using these funds for self directed REI investments ?
Thanks,
Keith
Employer retirement plan = Equity Trust ? - Posted by Keith
Posted by Keith on November 08, 2007 at 22:31:33:
At the beginning of the year my employer retirement account is moving our retirement plan to Principal Investment Group and going self directed on all accounts. This means I will have the control to invest my individual account in any allocation of Principal funds as I wish. But even better is, they will be offering an “equities window” which will allow me to invest in any mutual fund, stock or bond being traded on the market. Is there any way to get this money to Equity Trust or other self directed companies to invest in real estate and notes through the “equities window”?
Thanks,
Keith
Insurance Co’s don’t like SDIRAs - Posted by John Merchant
Posted by John Merchant on November 09, 2007 at 12:47:06:
I’d guess you’ll have to open your IRA with one of the truly SDIRA Custodian/Trustee companies because “SD” and REI aren’t really spoken by ins. companies.
I’ve sure never heard of an ins. co. allowing any RE (other than maybe their own REIT, etc.)inside their IRA package and truthfully I’ve found lots of genuine and perhaps wilful ignorance there, as REI isn’t any friend of theirs.
To do this you’ll just need to use some of your pension transfer money into new acct with Pensco, or one of the other SDIRA companies who do understand REI use of SDIRA funds.
You’re not real clear but it even sounds to me like this is inside your employer’s retirement plan and not even in an IRA.
So it’s possible you won’t be able to break any of it free for REI until you’re free of your employer’s plan and can do a rollover into your own IRA.