Hello!
I'm hoping to enlist help, either in navigating paperwork/bureaucracy and legalzoom.com/nolo.com;
or, by employing an affordable person/company to structure a "Self-directed Roth IRA LLC"
Specifically, I mean to set up an investment vehicle that can invest in assets besides stocks/bonds/mutual funds.
WHY?!?
Believe it, or not, I think a diversified portfolio includes a few elements other than the Vanguard ETFs, and for me that includes some percentage held in physical Gold and Bitcoin, but for others it could be Real Estate, or really anything besides collectibles. Hopefully, in doing this exercise we can also make this much more accessible to all savers here. It's neat, and you'd also get an EIN, which I presume can also mean some extra credit card bonuses.
Here's what I know:
At least one company will help fill out paperwork and establish such an LLC, but they cost about $1500:
My particular angle on this is (legally) dodging capital gains, and creating a means to avoid triggering taxable events on the occasional buying/selling of cryptocoins. This is not likely a realm most of you care for, but I find it fun, and there is a lot of speculation and potential benefits from the technology. If the crazy valuation of bitcoin persists, it will pose an interesting exception to the tradeoff normally experienced by young investors between increased (pre-tax) savings compounded versus tax-free distributions. Here are some fun charts: http://coinmarketcap.com/
Does anyone have experience setting up either a Self-directed IRA, or an LLC, or paying a company to do so???
Thanks much,
Ed
I'm hoping to enlist help, either in navigating paperwork/bureaucracy and legalzoom.com/nolo.com;
or, by employing an affordable person/company to structure a "Self-directed Roth IRA LLC"
Specifically, I mean to set up an investment vehicle that can invest in assets besides stocks/bonds/mutual funds.
WHY?!?
Believe it, or not, I think a diversified portfolio includes a few elements other than the Vanguard ETFs, and for me that includes some percentage held in physical Gold and Bitcoin, but for others it could be Real Estate, or really anything besides collectibles. Hopefully, in doing this exercise we can also make this much more accessible to all savers here. It's neat, and you'd also get an EIN, which I presume can also mean some extra credit card bonuses.
Here's what I know:
At least one company will help fill out paperwork and establish such an LLC, but they cost about $1500:
"No longer confined by a bias towards stocks, bonds, and mutual funds, it can invest in almost any asset.
Theoretically this process could be performed without a facilitator. An individual investor could establish a new self directed IRA by a qualified custodian, and then open a LLC for the account. However, this path could potentially be dangerous for your retirement account.
It’s very easy to fill out the requisite documents in ways which will not legally conform to self directed IRA regulations. This could result in a rejection of your application, or even an implosion of your IRA with all of the accompanying penalties. With Broad Financial’s platform, the documents are guaranteed to be accurate and hassle-free."
https://www.broadfinancial.com/self-directed-ira/ira-llc/
Theoretically this process could be performed without a facilitator. An individual investor could establish a new self directed IRA by a qualified custodian, and then open a LLC for the account. However, this path could potentially be dangerous for your retirement account.
It’s very easy to fill out the requisite documents in ways which will not legally conform to self directed IRA regulations. This could result in a rejection of your application, or even an implosion of your IRA with all of the accompanying penalties. With Broad Financial’s platform, the documents are guaranteed to be accurate and hassle-free."
https://www.broadfinancial.com/self-directed-ira/ira-llc/
My particular angle on this is (legally) dodging capital gains, and creating a means to avoid triggering taxable events on the occasional buying/selling of cryptocoins. This is not likely a realm most of you care for, but I find it fun, and there is a lot of speculation and potential benefits from the technology. If the crazy valuation of bitcoin persists, it will pose an interesting exception to the tradeoff normally experienced by young investors between increased (pre-tax) savings compounded versus tax-free distributions. Here are some fun charts: http://coinmarketcap.com/
Does anyone have experience setting up either a Self-directed IRA, or an LLC, or paying a company to do so???
Thanks much,
Ed