I’m 22 years old and want to open an IRA. Does anyone have any advice on which to use or what ones you guys use?
Thanks,
Matt
I’m guessing you want to use it for REI? Then you want to open it with a trust company. There are bunches of them out there. Equity Trust in Ohio is the largest.
Yes i agree, Equity Trust woould be the way to go.
here are two websites to check out:
http://www.guidantfinancial.com/products/default.aspx
http://www.trustetc.com/index.html
The second link i have been meaning to investigate; and the first (guidant financial group) i have read all about. Guidant Financial Group is designed specifically to let real estate investor buy, hold, flip, rent, purchase notes ect. inside of an ira so that it can grow tax free. if you log in you can go to the education station. Very valuable in understanding what they can do for you. they’ll also send you for free a cd explaing what they do too.
Dick Deisch has a coure called Excellerated Wealth Building. All about IRA investing. quite comprehensive. He is the president of Equity Trust i’m pretty sure. To see the course he offers go here:
http://www.irareg.com/store/default_new.asp
This same course is available on ebay sometimes too for 300 or 400. I found out about Equity Trust thru Bronchick’s Office, I called them and asked, and recently learned that Kris Kirschner recommends them to. I don’t know which is better Equity Trust or The Guidant
Financial Group. I was very impressed with Guidant Financial though.
Hope this helps.
erma in Kentucky
With the self-directed IRA, what is going on with the money when you do not have it wrapped up in RE. I’m very new to this, and am wondering if I pick other stocks and mutual funds while its not in real estate.
thanks
Sterling Trust is who I use.
Each is slightly different, but basically you can invest in any “traditional” IRA invesement : stocks, mutual funds, bonds, cash, etc. But you can also invest your IRA in “non-traditional” investments like private equity placements, LLC’s, limited partnerships, real estate, including income properties.
Equity trust can hold it in a money market for you while it’s not actively invested. There are other options too. I didn’t pay much attention to that part since I pulled it out right away. I know that you can buy stocks, bonds, mutual funds, etc. too.
iraservices.com has the best fee structure. Kind of basic nuts and bolts, but you save money. Feel free to PM me regarding IRA investing. It’s something I specialize in.
I just signed up for Equity Trust because a lot of members of the local advanced investor’s group recommended them. They seemed knowledgeable and straight-forward. Their seminar is in Austin, Dallas, and Houston next week. http://www.trustetc.com/taxfreewealthseminars.html