Many a blogs and articles have been written from this author and others about the benefits associated with a self-directed IRA and 401K. So, that being said, why would this post/article even begin to state that establishing a self-directed IRA might be the worst mistake you ever made?! Why would the ability to self-direct one’s own retirement assets be a…read more →
I remember as a young man that my dad asked me if the family should buy a Pontiac TransAm…I was floored! To this day, many moons later, I can still see the 2″ X 2″ advertisement in the local paper showing “my” car on sale for $3,596 (yes, I still remember!!). Whether wishful thinking or just playing with his son,…read more →
Note from author: This blog will only identify certain benefits of a self-directed 401K vs. a self-directed IRA. Another blog post will identify additional benefits of the 401K over the IRA. In the blog post titled: “Can an IRA be Co-Jointly Owned (Remember the “I”)” (July 6, 2012), we spoke of Jim and Susie’s question about whether they could co-jointly…read more →
Wait, You Mean They Haven’t Told You??!! Here’s a question for you….do you believe that an individual, if they desire, should be able to invest in practically any investment they so choose OR be limited to only what Wall Street wants you to invest in and receives compensation for? I think you know the answer…why doesn’t Wall Street?
With doing blogs on the BawldGuy site, it is nice that the website owner is a person who, like many of us, cringes when stories come out related to scams and frauds. Besides the obvious pain that it causes to those who have been negatively affected by such schemes, it also makes no sense. True, many of these schemes tend…read more →
No. This would be considered a prohibited transaction (see IRC 4975). You may not purchase property which is currently owned by you or any other disqualified person. You would need to find another piece of Real Estate that you don’t already own to purchase.