IRA
Tax defarral in retirement plans became available to the general public and employers as a result of:
- Federal Employee Retirement Security Act
- Passed by congress in 1974
- Became effective in 1975
- Since 1975 numerous legislative changes have been made.
- The portability of IRAs, Roth IRAs and qualified plans make such plans very popular.
- Because they permit you to defer/eliminate taxes.
- All of these are monumental!!!
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SELF DIRECT IRA
The IRS allows you to move your funds from "Wall Street" to a self-direct company (i.e. bank, insurance company or 3rd party company approved by the IRS.) Then you self direct your funds.
You can invest in:
- Real Estate
- Real Estate Options
- Almost anything else...
...except lottery, insurance policy, art, collectibles, etc. (questionable values)
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