992: 7 Rules of Using a Self-Directed IRA - Episode 992
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 19 October 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
On this episode of Investing in Real Estate, we're going to cover some of the main rules of using a self-directed account. Because a self-directed IRA is retirement account, the IRS has some strict rules you have to follow to maintain the tax-free status of the account. Press play to hear seven rules of using a self-directed IRA!
Transcript
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| 0:00.0 | Is it really possible to invest using a self-directed IRA? |
| 0:10.0 | Welcome to the Investing in Real Estate Show, I'm Clayton Morris. |
| 0:12.5 | Now, I don't know about you, but when I first heard about investing with a self-directed IRA, |
| 0:17.2 | I had a lot of questions. |
| 0:18.5 | Mainly, why had I never heard of this strategy before? |
| 0:21.5 | And why is there so little information out there about it? |
| 0:24.4 | Well here's the thing. Those big name financial advisory firms don't want you to know |
| 0:29.2 | about self-directed IRAs and if you don't yet know about self-directed IRAs, I want you to |
| 0:34.8 | pause this video and check out my full video on self-directed IRAs. I will |
| 0:39.2 | link it up in the description below. It's a full video playlist that I want you to watch. Please do that. the to build wealth and you realize that you're not going to learn about this kind of |
| 0:53.9 | investing on the mainstream news or from a traditional financial advisor. |
| 0:58.2 | Remember, traditional financial advisors work for big companies and they make money off of you investing in stocks that they |
| 1:06.2 | manage. |
| 1:07.2 | So they're not going to advise you to say bye bye go off and do it on your own using a self-directed |
| 1:12.3 | account. |
| 1:13.0 | But if it's the kind of person who takes initiative |
| 1:15.6 | and actually wants to be empowered in your own wealth building, |
| 1:18.6 | then you're smart enough to use a self-directed IRA. |
| 1:22.0 | Now in this video, we're going to cover some of the main rules of using a self-directed |
| 1:26.1 | account because a self-directed IRA is a retirement account. |
| 1:29.8 | The IRS has some strict rules that you have to follow to maintain the tax-free status on this |
| 1:35.3 | account. |
... |
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