Shunning retirement savings, who's with me? (wire, reporting, commercial, houses)
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There are some investments you can make in a taxable account and not an IRA but they'd not really apply to most people. Some options strategies, shorting, futures and commodity trading outside of precious metals
There are some investments you can make in a taxable account and not an IRA but they'd not really apply to most people. Some options strategies, shorting, futures and commodity trading outside of precious metals
That's a good point, options strategies are one I hadn't thought of.
There are some investments you can make in a taxable account and not an IRA but they'd not really apply to most people. Some options strategies, shorting, futures and commodity trading outside of precious metals
How about rental property with a recourse mortgage (personally guaranteed)?
How about rental property with a recourse mortgage (personally guaranteed)?
I know real estate is a potential option however I'm not really versed on it. I do believe you or family can't live in said property, can't work on it etc. The IRA owns it and all expenses have to be paid out from the ira. Expenses aren't tax deductible including depreciation, taxes and interest
I can invest in the exact same things in my brokerage account as I can in my Roth IRA account...and I can take out all contributions at any time completely penalty free. So aside from taking out growth there really isn't a huge restriction. And, if you wanted access to just growth the penalty of early withdrawals on your 401k/traditional IRA of 10% is less than the 15% in capital gains you would pay on long term gains from a brokerage.
I know real estate is a potential option however I'm not really versed on it. I do believe you or family can't live in said property, can't work on it etc. The IRA owns it and all expenses have to be paid out from the ira. Expenses aren't tax deductible including depreciation, taxes and interest
Hmmm. Having trouble finding the info on irs.gov but this site says it is allowed for non-recourse mortgages specifically:
I know real estate is a potential option however I'm not really versed on it. I do believe you or family can't live in said property, can't work on it etc. The IRA owns it and all expenses have to be paid out from the ira. Expenses aren't tax deductible including depreciation, taxes and interest
That's right, and you have to use one of the IRA custodians who will handle it. Have you ever looked at those fee schedules? Every time the custodian collects rent, pays for repairs, pays the mortgage, etc., the IRA is charged a fee. The fees to the custodian can easily be 4 figures each and every year.
Owning a rental inside an IRA is not the way to go, IMO.
And it wouldn't be taxed if you had instead invested it into a brokerage account?
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