Cover image for Retire Rich with Your Self-Directed IRA : What Your Broker & Banker Don't Want You to Know About Managing Your Own Retirement Investments.
Retire Rich with Your Self-Directed IRA : What Your Broker & Banker Don't Want You to Know About Managing Your Own Retirement Investments.
Title:
Retire Rich with Your Self-Directed IRA : What Your Broker & Banker Don't Want You to Know About Managing Your Own Retirement Investments.
Author:
Peterson, Nora.
ISBN:
9781601389565
Personal Author:
Edition:
2nd ed.
Physical Description:
1 online resource (336 pages)
Contents:
Intro -- Foreword -- Recognizing Opportunity -- Assumptions -- Terminology -- Part One -- Choosing to Retire Rich -- Chapter One -- Extreme Makeover - Retirement Style -- Save Early and Often -- Timing Is Everything -- Diversify Holdings -- Bill's Extreme Makeover Plan -- The Potato Sack Race to the Finish Line -- Starting Over With Block -- Power of Compounding -- A Tax Penny Saved Is Way More Than a Penny Earned -- The Hidden Cost of Spending -- Choose a Self-Directed IRA -- Owning Precious Metals -- Redistribute Assets, as Needed -- Pay Only Your Fair Share of Taxes -- Chapter Two -- An IRA Primer -- A Brief History of Pension Plans -- The Plans -- Rollovers and Transfers -- Chapter Three -- Keeping What's Yours -- The Big Stick of the IRS -- Transferring Her Existing Roth IRA -- What About Future Rollovers? -- Pay Now or Pay Later? -- A Sound Business Objective -- Undoing Good Planning -- Prohibited Transactions -- Part Two -- Laying a Solid Foundation -- Chapter Four -- Choosing an Administrator -- Custodians, Trustees, and Administrators: What's the Difference? -- Interviewing Prospective Administrators -- Adding It All Up -- Chapter Five -- Jo's Backup Crew -- Real Estate Agent -- Licensed Home Inspector -- Title Insurance Company -- Self-Directed IRA Administrator -- Property Manager -- Loan Officer or Mortgage Broker -- Lawyer -- Accountant -- Chapter Six -- Managing Risk -- Beware the Pundits -- Taming Risk -- Due Diligence: Exposing the Facts -- Plan: Have One and Stick to It -- Structure: Modifying the Framework -- Guarding Against Fraud -- Understanding the Law -- Part Three -- Building Blocks to Retiring Rich -- Chapter Seven -- The Allure of Real Estate -- Why Real Estate? -- Traditional Versus Nontraditional Real Estate Sources -- Traditional Real Estate Transactions -- Non-traditional Sources -- Chapter Eight.

Becoming a Landlord: Investing in Income Property -- Sizing Up the Job -- Calling in the Subcontractors -- Nuts and Bolts -- Funding the Purchase: Cash Versus Financing -- Renting the Property -- Selling Income Property -- Chapter Nine -- Becoming a Lender: Investing in Real Estate-Backed Notes -- Sizing Up the Job -- Senior Notes Versus Junior Notes -- Calling in the Subcontractors -- Buying Paper -- Loan-to-Value Ratio (LTV): The Lower the Better -- Borrower's Credit History: Caution Equals Less Risk -- The Role of Credit Ratings -- Interest Rate: The Higher the Better -- Term: the Shorter the Better - But Not Too Short -- Nuts and Bolts -- One Note, Four Possible Outcomes -- Notes for Sale: Where to Find Them -- Originating Notes -- Nitty Gritty -- LTV -- Interest Rate -- Term -- Borrower's Credit History -- Three Essential Documents -- Borrowers Wanted: Where to Find Them -- A Cautionary Note About Real Estate Investment Trusts -- Chapter Ten -- Buying Options: The Ultimate In and Out Transaction -- Sizing Up the Job -- Wilma's Bungalow -- Benefits to the Seller -- Option Consideration: A Bird in the Hand -- A Buyer for a Hard-to-Sell Property -- Tax-Deferred Income -- Benefits to the Buyer -- Time to Decide -- Option Consideration: Good Insurance -- Limited Risk -- Cornfield Redux -- When Options Make Sense -- Aunt Rose's Golden Parachute -- Real Estate Options: Where to Find Them -- Chapter Eleven -- Alternative Sources for Real Estate -- Sizing Up the Job -- Risk Management -- Foreclosure: The Birthplace of Distressed Property -- The Road to Repossession -- Pre-foreclosure Notification -- Loss Mitigation -- Foreclosure -- Buying Equity -- Short Sale -- Foreclosure Sale -- REO Properties -- Tax-Lien Sales -- Nuts and Bolts -- Redemption Period -- Fees and Payment Terms -- Type of Auction -- Managing Risk -- Probate Sales.

Calling in the Subcontractors -- Nuts and Bolts -- Wrapping It Up -- Chapter Twelve -- Business Structures -- Sizing Up the Job -- Business Partnerships -- The Limited Liability Company (LLC) -- Calling in the Subcontractors -- Nuts and Bolts -- Opt-Out Clause -- Right of Transfer -- Capital Preservation and Equity -- LLC Example -- Chapter Thirteen -- Owning a Business -- Sizing Up the Job -- Nuts and Bolts -- Chapter Fourteen -- Buying Precious Metals -- Sizing Up the Job -- Nuts and Bolts -- Part Four -- Weatherproofing: Making Wealth Last -- Chapter Fifteen -- Planning for Distributions -- Distribution Rules -- Early Distributions: Before Age 59½ -- Exceptions to the Early Distribution Penalty for Both Traditional and Roth IRAs -- Optional Distributions: After Age 59½, but Before Age 70½ -- Required Mandatory Distributions: After Age 70½ (Traditional IRAs Only) -- Non-Cash Distributions -- Breaking the Rules: A Costly Mistake -- Chapter Sixteen -- Estate Planning -- Stretching an IRA -- Passing on the Stretch IRA Benefit -- Who Can Be a Beneficiary? -- Naming a Beneficiary -- Naming a Contingent Beneficiary -- Inherited IRA Distributions -- Protecting the Stretch Option -- Estate Taxes And Probate -- Conclusion -- Appendix A -- Additional Resources -- Appendix B -- IRS Life Expectancy Tables (current for 2014 returns) -- Joint Life and Last Survivor Expectancy -- Appendix C -- Uniform Lifetime Table (current for 2014 returns) -- Glossary -- Bibliography and Web Sources.
Abstract:
Self-directed IRAs have been around for years, but they've been gaining popularity recently among do-it-yourself investors. If this type of investment appeals to you, experts warn that they aren't for everyone, and there are pitfalls associated with self-directed IRAs that could end up costing you money if you aren't careful.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2020. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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