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Starting Your Own Business? INC.Magazine Suggests Using a Self Directed IRA

iraexpertblog.com — An article by Inc magazine - Why a self directed IRA may be a good option if you plan on starting your own business. A self directed IRA gives you control over what you are investing in with your IRA, allowing you to invest in not only traditional assets(stocks, bonds, etc), but also non-traditional assets like real estate and foreign currency.

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  • Hilaryrich, on 11/09/2007, -0/+0That's true. Another company that dhelps with these transactions is Trust Administration Services: www.trustlynk.com
  • Iragirl, on 10/10/2007, -0/+0Great article, but there is something very important for people to remember: just having a self-directed IRA does not necessarily make you able to invest your IRA into your own business. There are specific restrictions in IRS code (called prohibited transactions) that make it illegal for one to invest their retirement funds in their own business UNLESS a specific structure is set up. A few companies will set up this strucutre for you. The best site I've found on this type of structure is for a company called Guidant Financial Group (www.guidantfinancial.com). Definitely look into it - it's a great way to finance a business - but make sure you are working with a company that sets these structures up specifically for investing in your own business.
  • thepterodactyl, on 10/10/2007, -0/+0I currently own some rental property and I would like to purchase more. After careful research I have discovered that a self directed IRA is a great place to store my rent payments and use it for later purchases of additional rental property.

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