WHY HAVING A CAT IS MORE WORK THAN A SELFDIRECTED IRA KAAREN HALL
All fed , he hops up to the bathroom sink to ask me to turn on the tap . He ’ s thirsty . Then he gives me that look when he ’ s quenched : “ I want my head rubbed NOW , please .”
For some relief from all this , I let Spotty out in the backyard . He triumphantly trots back in 10 minutes later to bring me a dead bird he found outside . Then I get the job of cleaning up after him .
And that ’ s just one morning . Spotty ’ s capers continue ‘ round the clock . Day after day . Week after week . Month after month . Year after year .
Are you up for it ? Not everyone is .
The good news is managing a selfdirected IRA ( SDIRA ) is less work than caring for a cat . And less expensive , if you do it right .
In fact , most of the time investment is upfront , in the first month . That ’ s when we ask you a lot of questions about where your money currently is ( to help you transfer it ) and the deal ( s ) you want to invest in ( to feel out whether they ’ ll pass Compliance ).
Yes , the process can get a little frustrating for that short while . It ends up being only a few hours in total though , with us guiding you through every step .
So ask yourself :
How worthwhile is investing a few hours now to taxshelter your real estate and nonWallStreet investments for years to come ?
At uDirect , we don ’ t charge you a percentage of your assets like some of the other guys . It ’ s one low , flat fee per year .
Of course , you also need to always follow the IRS ’ rules to steer clear of “ prohibited transactions ” once you ’ re investing . You could owe penalties on your whole IRA if you break those rules .
To help prevent that , we can refer you to some great tax lawyers , CPAs , and even funding sources who understand SDIRAs – and who specialize in real estate . I ’ ve personally known these people for years and worked with many of them on my own real estate deals . None of them pay us a penny for the referrals either .
So if a few rounds of info gathering and monitoring your own investments don ’ t scare you , then you may have the right stuff to become a uDirect IRA Services account holder .