I want to move my IRA to a self-directed IRA so I can purchase shares of my own C-corp. I was curious who people are using for the self-directed IRA?
I’ve found a half-dozen companies that do this. The fees seem about the same for all of them. I’d like to here about some experiences good or bad with it.
I’ve used Equity Trust for the past 2 years and I’ve been satisfied with their service. I also know a few other investors that use them and they speak highly of them as well.
As far as I’m concerned, the only company to use is Guidant Financial…you can have check book control over your IRA, and don’t need to have an intermediary between you and your transaction. Check 'em out at www.trulysdira.com
Having deferred taxes, or in the case of a Roth IRA / 401k tax free income, is incredibly powerful. The only problem is that you can’t use the money to ‘live on’ as many of the investors here are wanting to do. I do agree though, I would hate to see someone run off because they happen to work for a company that they suggest as a possible option to others.
Anybody can have SDIRA with “checkbook control” if they’ll form a new (tax law says must be new) then direct Equity Trust, or whatever trustee they’re using, to acquire the units of that new LLC.
Then the new LLC has the funds and you or whomever is the manager HAS checkbook control.