Posted by Blue on December 05, 2002 at 16:41:05:
hi Rich,
thanks for your help. I will read through the posts and come back if I need further help.
Have a great day.
Self directed IRA - Posted by Blue
Posted by Blue on December 04, 2002 at 12:37:40:
Can someone please explain WHAT this is in LAYMAN’s terms?
How does it work?
can I transfer money from my 401k?
thanks.
Re: Self directed IRA - Posted by Mike Hurney
Posted by Mike Hurney on December 05, 2002 at 11:48:26:
Anyone know someone that does Self Directed IRA’s besides MidOhio?
Thanks, Mike
Re: Self directed IRA - Posted by Diane (TX)
Posted by Diane (TX) on December 04, 2002 at 18:53:01:
Most IRA custodians are banks, brokerages, and mutual funds. The only types of assets you can invest in with these standard IRAs are financial assets such as stocks, bonds, CDs, or mutual funds.
A self-directed IRA lets you invest in the financial assets, and in different types of assets. For example, a self-directed IRA can hold title to real estate or options on real estate.
You can rollover from a 401(k), but you have to quit the job that the 401(k) is from before you do that.
Re: Self directed IRA - Posted by Linda - CA
Posted by Linda - CA on December 05, 2002 at 13:21:21:
PENSCO is another. they are online as well at PENSCO.com.
Re: Self directed IRA - Posted by Blue
Posted by Blue on December 04, 2002 at 22:32:04:
Thanks. I have already left the company. Is an IRA better than a 401k, I only have 10k in it.
Re: Self directed IRA - Posted by Rich[FL]
Posted by Rich[FL] on December 05, 2002 at 16:20:58:
Rolling over from a qualifying 401k into an IRA (preferably a ROTH self-directed IRA) may involve a taxable event.
Keep in mind that a ROTH IRA earns money tax free and you can withdraw the money tax free when you qualify. A traditional IRA will earn tax free but you will be taxed when you withdraw it. There are a lot of variables here so you should seek expert guidance on your specific circumstances.
If you do a search in the archives here for IRA or ROTH IRA, you should be able to find a wealth of information about these vehicles. Mid-Ohio Securities advertises here and they also sell a course from Hugh Broma of Entrust, another self-directed custodian. I do remember that some time ago a person made a post that included a lot of different companies (10-20?) who do self-directed IRAs.
Hope this helps.
Rich
Re: Self directed IRA - Posted by rbs
Posted by rbs on December 05, 2002 at 09:46:00:
They’re essentially similar vehicles but IRA’s ALWAYS
allow self-directed real estate investments with the
right custodian…401K’s may not