I have heard and read that an IRA is considered safe and is one of your personal assets that usually can’t be touched in a court case as long as it is not exorbantly large.
Can I get some confirmation on this or at least some further insight?
I do most of my investing inside my IRA so knowing those are safe is pretty important to me.
February 28, 2007, 1:17pm
I am not positive but I think if the IRA is in your name than it would not be protected in court.
I heard exactly the contrary…that an IRA was in a protected class.
Anyone know for sure either way?
Retirement accounts are protected from creditors, which is why the self-directed IRA is appealing.
Unless I’m wrong, you also have access to the TSP which makes me pretty good money…the “C” Fund is up over 14-1/2% over the last 12 months and the “I” Fund is up over 20-1/2%…I’m currently holding about 1/3 of my holdings in the C Fund and about 20% in the I Fund…
Copy that, I use TSP and Roth… 15% C Fund, 15% S Fund, 70% I fund…big risk taker here…
Would TSP fall into the same protected category as a ROTH since its a retirement category?
Yes…it’s a Federal Retirement account under Title 5 of the Code of Federal Regulations, Parts 1600–1690