CFD 270 - [REPLAY] Episode 161 - Don’t let your IRA be so lazy! Put it to work creating cashflow…

Did you know you can use some types of IRA accounts for
investing purposes? Like a self-directed IRA, where you get to make
your own decisions about how the money in your account is used.
That means your IRA gets to invest in Real Estate transactions and
in businesses. But before you rush to your IRA manager, take a
breath and educate yourself a little. As with any IRA there are
rules and prohibited transactions. That’s what this incredibly
informative Cash Flow Diary podcast episode covers. Taken from a
live webinar featuring J. Massey and Udirect’s very own Kaaren
Hall that we recorded at the end of 2014, this episode promises
to give you much of what you need to know about the power of using
a self-directed IRA. Take notes as Kaaren talks about “sweat
equity” and how the IRS says you cannot “over-contribute sweat
equity” in a property in which the IRA invests. That means you
cannot be the one to swing a hammer in the rehab process. You can’t
get your hands dirty doing any of the improvements. Kaaren also
explains in depth about prohibited transactions, for example, you
can’t always do business with relatives, family members or even
in-laws. There are good reasons for this ruling. If you want to
avoid legal hot water, you need to learn how to manage your self-directed IRA.
There are many grey areas. You need to be very clear on using an
IRA for investing purposes. The great news is that you absolutely
can use your IRA and it’s a smart way to create much brighter,
financially fit golden years. Learn more.