Self directed IRA for holding Dinars

[Montana]

Hi All,

I was interested in converting an IRA to a self directed IRA and place some Dinars in it.

Has anyone done this using a company besides ENTRUST? Which I believe is a company that Ali recommends . I spoke with the ENTRUST office that's in Santa Monica near Ali's office and they made it seem like a very tedious and slow process with significant fees involved.

Any help/info would be appreciated.

Thank You,

Montana

[saturday night]

Hi All,

I was interested in converting an IRA to a self directed IRA and place some Dinars in it.

Has anyone done this using a company besides ENTRUST? Which I believe is a company that Ali recommends . I spoke with the ENTRUST office that's in Santa Monica near Ali's office and they made it seem like a very tedious and slow process with significant fees involved.

Any help/info would be appreciated.

Thank You,

Montana

I tried to do the ENTRUST thing and the fees became overwelming and it seemed way to complicated to do. My regular IRA broker said they just don"t do that sort of thing. I hope your luck was better than mine. I finally talked with my wife and we just decided to buy more, pay taxes and move on.

[On_Reserve]

I tried to do the ENTRUST thing and the fees became overwelming and it seemed way to complicated to do. My regular IRA broker said they just don"t do that sort of thing. I hope your luck was better than mine. I finally talked with my wife and we just decided to buy more, pay taxes and move on.

Hey Sat ...

My experience was different. Christina at Entrust was pretty patient with me and I was able to convert an old qualified 401K plan with a former employer to a conventional IRA and then Entrust helped me convert that immediately to a Roth IRA. You may want to look at this again (if you can wait for your money) as the money in a Roth appreciates tax free and all distributions after age 59.5 are also tax free. I have both dinar in hand and the Roth IRA.

NOTE: This is a bit time consuming: 2-3 weeks, although the duration would be less if you are simply beginning an IRA or already have one. A lot of my extra time revolved around receiving my 401K money from the administrator at my former employer, then Entrust had a 5 day wait required after deposit before investing in Dinar. All in, it cost me about $225 in fees to get everything set up. If you handled by wire, you should be able to get everything done quicker.

Like you, I also called Schwab, etc and was rebuffed each time.

Hope this helps,

[djw]

Just google for a self directed IRA Broker, you will get several but Entrust has an office in every state. I had a smooth experience with mine. Of course they thought I was nuts

but I directed them to buy, they did and I am set. I have been buying real estate with this IRA too for about 20 years now and if your close to 591/2 and 5 years to hold then this is the one.

[joe liberst]

I have dinar in my Pensco Trust self directed Roth IRA. They also have other types of IRAs. You have to find somebody to "hold" your dinar for you.

It really isn't that different than owning investment property in your IRA.

[Col Van]

Hey Sat ...

My experience was different. Christina at Entrust was pretty patient with me and I was able to convert an old qualified 401K plan with a former employer to a conventional IRA and then Entrust helped me convert that immediately to a Roth IRA. You may want to look at this again (if you can wait for your money) as the money in a Roth appreciates tax free and all distributions after age 59.5 are also tax free. I have both dinar in hand and the Roth IRA.

NOTE: This is a bit time consuming: 2-3 weeks, although the duration would be less if you are simply beginning an IRA or already have one. A lot of my extra time revolved around receiving my 401K money from the administrator at my former employer, then Entrust had a 5 day wait required after deposit before investing in Dinar. All in, it cost me about $225 in fees to get everything set up. If you handled by wire, you should be able to get everything done quicker.

Like you, I also called Schwab, etc and was rebuffed each time.

Hope this helps,

Entrust CA is not in the BBB, does this worry you?

[hrdbawl]

Hi All,

I was interested in converting an IRA to a self directed IRA and place some Dinars in it.

Has anyone done this using a company besides ENTRUST? Which I believe is a company that Ali recommends . I spoke with the ENTRUST office that's in Santa Monica near Ali's office and they made it seem like a very tedious and slow process with significant fees involved.

Any help/info would be appreciated.

Thank You,

Montana

Hey Montana. I have done this with and other self directed IRA's with different Trust companies...as they are the only custodians that will work with "outside the box" investing. Entrust is fine. They have many branches and I've already talked to the SEC on their history and all is fine. BBB is not needed and really more of a "customer service" poll than anything else.

There are many ways to "skin this cat". Let me tell you what I did.

let's say you have $1,000 in an IRA with "X" company currently. You will need to transfer or better yet (quicker in this case) CASH it out! Now I know many of you are saying NOOOOOO. This is a taxable event. They are right! However, what many don't realize is that you have 60 days from the date of the check to "transfer" this money to another IRA. At year end, you will receive the appropriate tax forms from both custodians so they will wash out proving you transferred it. I suggest this if you are in a hurry (not knowing if the RV can be any day or not). ppwork at entrust is not too bad and Christina will help you with it. Bottom line...it is so very worth it in the end.

Now, if this is an IRA and not a Roth IRA (a traditional IRA grows tax DEFERRED which will be taxed down the road vs. the Roth IRA which is free after 59 1/2 which is huge in this case) I will HIGHLY encourage you "convert" the IRA to a Roth IRA AT THE CURRENT LOCATION YOU HAVE IT TODAY! If you are worried about the time coming close to an RV and really want this, have the current company accept whatever ppwork they require via fax. if they don't do that, overnight it! Call them daily until they tell you it is officially a Roth IRA. Then...cash it in immediately! During all this, you will have opened the Roth with Entrust (in this case) so they have an acct number waiting for you. You will then deposit that IRA money in your checking, get that money to clear hopefully immediately and then you will wire the funds to Entrust. They will then wire the funds to Dinar Trade and Dinar trade will set aside the correct amount of Dinar for you in safe keeping. Entrust nor you ever receive these Dinar.

It sounds like a lot, but if you buy $1 million Dinar and it RV's at $1 (hypothetically) you now have a gross amount of $1 million in TAX FREE funds for your retirement. It is the BEST way in my opinion to set up your retirement without a doubt. It is worth the effort I assure you.

Good luck!

P.s. I know what of I speak i assure you.

[Montana]

Hey Montana. I have done this with and other self directed IRA's with different Trust companies...as they are the only custodians that will work with "outside the box" investing. Entrust is fine. They have many branches and I've already talked to the SEC on their history and all is fine. BBB is not needed and really more of a "customer service" poll than anything else.

There are many ways to "skin this cat". Let me tell you what I did.

let's say you have $1,000 in an IRA with "X" company currently. You will need to transfer or better yet (quicker in this case) CASH it out! Now I know many of you are saying NOOOOOO. This is a taxable event. They are right! However, what many don't realize is that you have 60 days from the date of the check to "transfer" this money to another IRA. At year end, you will receive the appropriate tax forms from both custodians so they will wash out proving you transferred it. I suggest this if you are in a hurry (not knowing if the RV can be any day or not). ppwork at entrust is not too bad and Christina will help you with it. Bottom line...it is so very worth it in the end.

Now, if this is an IRA and not a Roth IRA (a traditional IRA grows tax DEFERRED which will be taxed down the road vs. the Roth IRA which is free after 59 1/2 which is huge in this case) I will HIGHLY encourage you "convert" the IRA to a Roth IRA AT THE CURRENT LOCATION YOU HAVE IT TODAY! If you are worried about the time coming close to an RV and really want this, have the current company accept whatever ppwork they require via fax. if they don't do that, overnight it! Call them daily until they tell you it is officially a Roth IRA. Then...cash it in immediately! During all this, you will have opened the Roth with Entrust (in this case) so they have an acct number waiting for you. You will then deposit that IRA money in your checking, get that money to clear hopefully immediately and then you will wire the funds to Entrust. They will then wire the funds to Dinar Trade and Dinar trade will set aside the correct amount of Dinar for you in safe keeping. Entrust nor you ever receive these Dinar.

It sounds like a lot, but if you buy $1 million Dinar and it RV's at $1 (hypothetically) you now have a gross amount of $1 million in TAX FREE funds for your retirement. It is the BEST way in my opinion to set up your retirement without a doubt. It is worth the effort I assure you.

Good luck!

P.s. I know what of I speak i assure you.

Wow! Thank you so much, that really helped. I've already started making the phone calls.

Montana