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

July 23, 201551 min
Full notes at http://SteveStewart.me/193
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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.
 

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