What You Need To Know About Self-Directed IRA's - MPSOS193

Full notes at http://SteveStewart.me/193 Invest in your business: The Midwest Mastermind Event on August 15th http://midwestmastermind.com Get 10% off You Need A Budget http://MoneyPlanSOS.com/YNAB In this episode:  Interview with Kirk Chisholm Many people are being lured by the attractiveness of directing their own retirement plans. The trick is to do it right and have an asset, business, or income-producing entity that makes sense for YOUR retirement planning. Kirk Chisholm is my guest today. Kirk is a Wealth Manager, Economist, & Principal at IAG. He is also an expert of investing in alternative investments in self-directed IRA / 401k Key takeaways from our discussion: Self-directed IRAs are a great arrangements for making non-traditional items become tax-deferred investments There is no guidance for what you can put into a self-directed IRA There are some unusual things people have turned into self-directed IRA investments A 1031 exchange is not a self-directed IRA We learn where a wealth manager fits into an individual’s self-directed IRA plan There is no certification for someone to become a self-directed IRA administrator Kirk encourages you to pick things you know well   How taking one step back can make you feel a little bit richer Stop Take a step backwards Close your eyes for 1 second Open your eyes  Imagine your life 10 years ago and tell me you don’t feel just a little bit richer   Ponda from the Honda She blew $20k of college savings on clothes and a European vacation.