Self-Directed IRA Provider Showcases the Unique Ability of Doubling IRA Money
Silverstone provides information on how to double retirement account funds with a self-directed IRA
Self-Directed IRA: Proper Structuring
Unfortunately, not just any individual retirement account can be used to invest in these alternative assets. With proper structuring, however, investors will be able to tap thousands so as to pull their money from the market and place it in everything from gold to private equity deals.
Unlike a normal traditional or Roth IRA a self-directed IRA is structured in such a way that the account can legally invest in alternative assets. The account is structured with the use of a Limited Liability Company and all assets from previous 401(k) and IRAs are converted and transferred into the account. In this way, the owner of the IRA avoids earl withdrawal penalties and the taxes and fees that will be charged for doing a prohibited transaction.
Be Wary of Prohibited Transactions and Fraud
There are a number of rules associated with establishing a self-directed IRA. Among them is the need to avoid disqualifying persons and disqualifying transactions. As a holder of a self-directed IRA, you will not be allowed to invest in someone in your direct family line. That is fathers, grandfathers, children and grandchildren are off limits. You can also not invest with siblings or spouses. In addition, the account limits you to particular types of transactions. For instance, you are not allowed to invest in collectibles.
Another component of these types of accounts that makes them less-than-desirable is the ability to do fraudulent activities with them. Because the funds are so easily accessed, it makes it more easy to steal directly from someone’s retirement funds. Silverstone, has put particular preference on warning people of the ease of committing fraud within the IRA.
“Whatever you choose to invest in, you retain more of your investment income without having to pay taxes to the IRS.”
Silverstone is a Seattle-based provider of retirement rollovers and retirement account investment consulting. In particular, the company provides solo 401(k) and self-directed IRA conversions for individuals looking to diversifying their holdings into things like real estate and precious metals.
For more information, please visit: http://www.silverstone.net/
Page Updated Last on: Feb 21, 2013