A thought!

[icemanihi]

So as I was thinking about how much money could potentially be made and reading all the articles about taxes, I may have some up with something no one else has mentioned. SELF-DIRECTED IRA! Now, there are a few companies out there that provide self directed IRA's. These are set up in a way that allow you to have a ton of control over how you invest your retirement. You are legally allowed to invest in stocks, real estate and among other investments, FOREIGN CURRENCIES! Ideally, you could invest, let's say $2000, into your self directed Roth-IRA today, in which you would owe no taxes on the back end when you retire at 59 1/2. You would have to wait to withdraw till that age or you would be subject to reg income tax and a 10% penalty, but if you were looking for a nice retirement account with no taxes, just do the above!

[eddieisme]

So as I was thinking about how much money could potentially be made and reading all the articles about taxes, I may have some up with something no one else has mentioned. SELF-DIRECTED IRA! Now, there are a few companies out there that provide self directed IRA's. These are set up in a way that allow you to have a ton of control over how you invest your retirement. You are legally allowed to invest in stocks, real estate and among other investments, FOREIGN CURRENCIES! Ideally, you could invest, let's say $2000, into your self directed Roth-IRA today, in which you would owe no taxes on the back end when you retire at 59 1/2. You would have to wait to withdraw till that age or you would be subject to reg income tax and a 10% penalty, but if you were looking for a nice retirement account with no taxes, just do the above!

One problem is the fact that your are capped at how much you can put in every year I believe. I think it is only 5 grand.

[Unitedrich]

One problem is the fact that your are capped at how much you can put in every year I believe. I think it is only 5 grand.

Your right about the five grand, but if you are able to put it in before RV (and I dont know if you could) you could use that basis (current) for doing so. I think it warrants further investigation anyway. Thanks for the post eddieisme and icemanihi.

Edited June 3, 2010 by Unitedrich

[ronscarpa]

So as I was thinking about how much money could potentially be made and reading all the articles about taxes, I may have some up with something no one else has mentioned. SELF-DIRECTED IRA! Now, there are a few companies out there that provide self directed IRA's. These are set up in a way that allow you to have a ton of control over how you invest your retirement. You are legally allowed to invest in stocks, real estate and among other investments, FOREIGN CURRENCIES! Ideally, you could invest, let's say $2000, into your self directed Roth-IRA today, in which you would owe no taxes on the back end when you retire at 59 1/2. You would have to wait to withdraw till that age or you would be subject to reg income tax and a 10% penalty, but if you were looking for a nice retirement account with no taxes, just do the above!

If you're an old guy like me, and are over 59.5 you could buy IQD in your IRA. Then draw out what you want, but will pay the tax rate for your drawn amount at that time - probably greater than the current 35% cap (once you have over $250K). Plus, when you die it goes to your heirs, but they'll have to pay a hugh inheritance tax. It's better to pay taxes up front (if you must pay short term capital gains), and the 15% if long term CG...! I hold a large amount of IQD in my IRA, and want to protect my wealth as much as possible, but I'm not sure whether to leave it in my IRA - limited advantages for my age - or take it out and pay taxes. There is no long or short capital gains within the IRA, it is taxed as income when you take a draw.

If you're young enough you can let it grow tax free for your lifetime. You basically get the advantage of the untaxed portion growing at whatever rate of growth you can arrange from investments. My current plan is to buy reasl estate within the IRA...and take advantage of keeping the 35% working for me for several years. Many discussions with my Tax Atty, accountant, and financial planner.....but, will have to make final decisions only after the RV...

If anyone has questions about this option - I'm your guy...! As I said, I hold IQD in my IRA. Send me a PM and we'll exchange phone numbers and talk candidly. I type with one finger, and forget my train of thought, and can't say all I want to - so the phone is best.

RON

[dandr70]

Hi Ron,

I see you are from NY...I am 62, live in NY and need help in planning WHEN the RV happens...very new to this...been scoffed at whoever I talk to...can you refer some names in NY who will talk to me regarding my investment, taxes, etc...I hate to wait till after the RV to start "looking" for someone reputable (can you tell I am from NY ...)

thanks so much. I don't know how to do a pm, so I hope this will work for you....dandr70

If you're an old guy like me, and are over 59.5 you could buy IQD in your IRA. Then draw out what you want, but will pay the tax rate for your drawn amount at that time - probably greater than the current 35% cap (once you have over $250K). Plus, when you die it goes to your heirs, but they'll have to pay a hugh inheritance tax. It's better to pay taxes up front (if you must pay short term capital gains), and the 15% if long term CG...! I hold a large amount of IQD in my IRA, and want to protect my wealth as much as possible, but I'm not sure whether to leave it in my IRA - limited advantages for my age - or take it out and pay taxes. There is no long or short capital gains within the IRA, it is taxed as income when you take a draw.

If you're young enough you can let it grow tax free for your lifetime. You basically get the advantage of the untaxed portion growing at whatever rate of growth you can arrange from investments. My current plan is to buy reasl estate within the IRA...and take advantage of keeping the 35% working for me for several years. Many discussions with my Tax Atty, accountant, and financial planner.....but, will have to make final decisions only after the RV...

If anyone has questions about this option - I'm your guy...! As I said, I hold IQD in my IRA. Send me a PM and we'll exchange phone numbers and talk candidly. I type with one finger, and forget my train of thought, and can't say all I want to - so the phone is best.

RON

[jimanita]

I am sure there are lots of investments out there ... The one investment I have stuck with and that has held true is investing in myself ... in other words you are the one who invested in the dinar when most of the people around you prob laughed ... keep that going after RV invest in your self study something and go with what you feel strong about ... I for one never liked stocks or things that I had no control over so I have always invested in businesses, there are alot sound business ideas out there, find them get a good team around you and take this to the next step! RV has the potential to change your FAMILY history, think about that for a moment. Lets say you are 9-5 worker comfortable but working everyday for someone else. You were able to invest $10,000 in IQD it RVs at $1 thatsmakes you worth $10,000,000 instead of blowing it on all the stuff and having nothing left for your children, you invest in several businesses as a partner some stocks and maybe even oil none making tremendous amount at first but ten years from now they all start hitting all making huge amounts your children their children etc will all be set.

[mythunter]

Stay true to yourself always. great post.

[ReturnToGod]

Hi Ron,

I see you are from NY...I am 62, live in NY and need help in planning WHEN the RV happens...very new to this...been scoffed at whoever I talk to...can you refer some names in NY who will talk to me regarding my investment, taxes, etc...I hate to wait till after the RV to start "looking" for someone reputable (can you tell I am from NY ...)

thanks so much. I don't know how to do a pm, so I hope this will work for you....dandr70

Dandr70, to do a PM you place your mouse cursor over the second little picture below the person's name and you will see a bubble pop up with the phrase "PM this member." Click on the little picture and you will be able to send a private message to the person.

Hope this helps,

Fcizmar

[icemanihi]

If you're an old guy like me, and are over 59.5 you could buy IQD in your IRA. Then draw out what you want, but will pay the tax rate for your drawn amount at that time - probably greater than the current 35% cap (once you have over $250K). Plus, when you die it goes to your heirs, but they'll have to pay a hugh inheritance tax. It's better to pay taxes up front (if you must pay short term capital gains), and the 15% if long term CG...! I hold a large amount of IQD in my IRA, and want to protect my wealth as much as possible, but I'm not sure whether to leave it in my IRA - limited advantages for my age - or take it out and pay taxes. There is no long or short capital gains within the IRA, it is taxed as income when you take a draw.

If you're young enough you can let it grow tax free for your lifetime. You basically get the advantage of the untaxed portion growing at whatever rate of growth you can arrange from investments. My current plan is to buy reasl estate within the IRA...and take advantage of keeping the 35% working for me for several years. Many discussions with my Tax Atty, accountant, and financial planner.....but, will have to make final decisions only after the RV...

If anyone has questions about this option - I'm your guy...! As I said, I hold IQD in my IRA. Send me a PM and we'll exchange phone numbers and talk candidly. I type with one finger, and forget my train of thought, and can't say all I want to - so the phone is best.

RON

Ron,

Correct me if I am wrong, but at your age, could you not dump a few thousand into a Roth IRA that is pretaxed and owe no taxes on the back end? Also, I am on the same track as you. I am looking at doing a self directed IRA to use to invest in real estate. If you are doing a self directed IRA, just curious what company you are using? I am looking at Equity Trust. Thanks!

Thomas