What is a Self Directed IRA? Getting Started

[@KentBrono]

I converted my 401k to a Roth IRA to avoid higher taxes in the future. I'd rather pay taxes now than be stuck paying taxes on my retirement income when I'm 59 and living off my savings

[@Erikkurilla01]

Pre-tax contributions may help reduce income taxes in your pre-retirement years while after-tax contributions may help reduce your income tax burden during retirement.

[@MablePauls]

Both have their perks but you can also save for retirement outside of a retirement plan, such as an individual investment account or employing the services of a retirement planner/financial Advisor.

[@PajinakStanovska]

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you

[@MablePauls]

My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@PajinakStanovska]

Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds.

[@CindaMurphyRealEstate]

I had a 401k. After I quit, I rolled it into an IRA. Can I turn that into a Self Directed IRA now? I’m a realtor now and I want to invest all my money into RE instead of the stock market. A friend of mine says I can’t because that was from W-2 income and I am now self employed. Here’s what she said, “I hate to burst your bubble- but unless you can transfer over other self employed Ira funds into SDIRA, it’ll take you a long time to build up enough to purchase. You can contribute up to 100% of income up to 250k i think every year, but you can’t as you need to live on some, if not all your income. ☹️. I know this isn’t want you want to hear- but that’s the only way to fund a SDIRA. From other self employed Ira’s or ongoing from current self employment income. I couldn’t roll my regular IRA in it, only my SEPs & Simples. (Self employed Ira’s). “

[@julienaudet9782]

Im going to listen to the rest of the podcast, but where do you find notes to invest in??

[@_niyabella]

Never learned about this in any of my business courses while in Uni. You two have probably explained this better than what $6k/semester would've gotten me lol.

[@billcavanaugh1682]

Thank you for doing this podcast. I had never been exposed to this possibility until about 4 months ago.

[@MatSorensen]

Awesome, thanks Bill!

[@Vrie.]

Excellent information! Can you make more content for small business owners? Any guidance would be appreciated

[@tarheelgarden]

is there an audio version of the book?

[@rickwise6259]

Question: Isn't "self directed IRA" a misnomer? I have a "regular" IRA with E Trade and I "direct" it. that is -- I decide whether to invest in Mutual Fund A or Mutual Fund B. In that sense it is "self-directed". What you are discussing is better named a "Non--Traditional Asset IRA". Instead of an IRA that has a Custodian that only allows traditional assets, your version is an IRA with a Custodian that allows both traditional and non-traditional assets. Am I correct on this?

[@MatSorensen]

That’s a preference. I’ve worked in this area for 16 years and it’s commonly referred to as a self-directed IRA. I’ve never heard anyone call it a non-traditional asset IRA. These terms were around before I got into the field 16 years ago though. I just rolled with it. I will say some institutions call the open architecture IRAs and some investment sponsors call them alternative asset IRAs.

[@rickwise6259]

@@MatSorensen Thanks Mat. And just to be clear, I wasn't intending to be critical. I know this nomenclature is industry wide. I was just trying to make sure I understood its essence.

[@evarsonazevedo5321]

So if I have 25 k on my personal savings account and 25k oh my SDRIA , can I buy a rental property with 50k down payment? Would that be an allowed transaction?

[@jiyenshin5163]

My sister is a teacher and has 403B through the teacher's union. Can she set up LLC IRA from 403 B? Another question is if you buy a property from LLC IRA, can you get a loan or it has to be all cash? Thank you for the wonderful educational information.

[@MatSorensen]

Hi Jiyen, yes she can rollover her 403B into a Self-Directed IRA. Yes you can get what is a called a non-recourse loan to buy a property with your IRA LLC.

[@davemaurer7341]

You guys are GREAT, so.lookjng forward to educating our clients and getting them over to Mat, Nate and the team!!!

[@MatSorensen]

Glad you enjoy the content! Thank you.

[@roberttomsiii3728]

If your book was on audible with a good narrator; I would pick it up there. Thank you for doing these pod casts and videos. Like and Subscribed.

[@MatSorensen]

It's coming soon. I'll let you know as soon as it is available. Thanks for watching.

[@francksnotes7130]

@@MatSorensen Waiting for that as well you guy’s books on audible. Getting accounts set up at DirectedIRA and KKOS right now. Subscribed!

[@anonymous-if7fx]

can stocks be rolled over from a brokerage like robinhood, eTrade, etc to a self directed IRA? if so, is the rollover tax free?

[@MatSorensen]

Did you buy the stocks with your retirement account? If so then yes you can roll it over to a self-directed IRA tax free. If you bought the stocks with your own money then unfortunately you will be taxed.

[@fortgrove3166]

How much can you contribute to a self-directed IRA? I know with my Roth IRA is 7300 a year. Is it the same amount?

[@tl57345]

Great Vid guys, I just ordered your updated book through Amazon. I’m looking forward to it.

[@MatSorensen]

You rock!

[@ssnydess6787]

It's very frustrating, I have been trying to work through the process with KKOS (marks company, and was apparent from the start my assigned lawyer, Alison was not knowledgeable in how to set up a self directed Roth IRAand I waited weeks for a reply after paying ($1400) for a revocable personal trust and not getting any updates or direction in what I needed to do next. I have left numerous messages with Alison and with the office manager to no avail. I did figure out on my own how to set up the directed Roth (that company was much more helpful) but not how to set up the checkbook LLC to control it. Impossible to get help from Mark's team...

[@MatSorensen]

Thanks for the comment. We will look into this and get it fixed. Thanks

[@ssnydess6787]

@@MatSorensen thank you Mark. I need your help to get this going ASAP. You are my hero.

[@goguryeorising4247]

If I have two LLC's that do different kind of business, is it legal to have two self-directed IRA accounts, two self-directed Solo 401K? Thanks.

[@keishawilliams869]

A 401K CAN OWN A LLC? I have a self directed IRA and trying to determine best investment option to do #help

[@brianpeterson3752]

Mark is hilarious. Probably a ridiculously funny dude to grab happy hour with LOL

[@MatSorensen]

Yup Brian, Mark is always entertaining, especially after 5 Rockstars.🚀🚀

[@Cardroid]

thanks for this as well!

[@paulromero3783]

I am 60, just retired and have a TSP account. If I roll it over to a SDIRA and start to invest in rental property do I have to wait 5 years to start drawing from the SDIRA?

[@MatSorensen]

That applies to the Roth IRA accounts you must wait 5 years to withdraw without penalty. If you open a traditional you just have to wait until retirement age when you can start taking distributions without penalty but you will pay the taxes associated to that income.

[@iamhvrcrft]

2 hours and u never actually explained how to cash out and what the fees are or how about a strategy to get the money into my bank account so I can spend it

[@teetimewisdom90]

I have the book, it’s a great guide!

[@MatSorensen]

Amazing!

[@betsy773]

Thank you for this information!

[@MatSorensen]

You’re welcome.

[@planfire]

So I can buy rental property with my ira account? That's amazing.

[@MatSorensen]

Yes, you can.

[@lanyonheinemann9162]

cant make it through...

[@MatSorensen]

How can I help you through? Happy to answer any of your questions on self-directing with an IRA.

[@AlexShantyOldLawModel]

Just got through how do I help you too

[@Rawpha89]

Double their money in a year? Prove it! Haha

[@alexanderdelapaz7499]

5 minutes in and they still haven't explained a self directed IRA lol

[@manleynelson9419]

Most people have already know what a self-directed IRA is so they're probably not jumping right into the definition of that but you can go pull it up on the internet very quickly. It's just an IRA that has certain tax benefits where you can pull money out of it to use to make money in real estate for instance and capital gains and not pay any tax on it and then put it back into the self-directed IRA without any penalty. But the interesting part of this conversation isn't about self-directed IRAs per se. It is about the fact that you can take your 401k which is not performing which doesn't allow you to make capital gains and other real estate speculation and put the money back in at no taxable capital gain.