Ep. 96: What You Need to Know About Self-Directed Retirement Accounts with Brittany Pickell

Since the inception of the IRA in 1974, investors have been able to hold assets in their retirement that are alternatives to stocks, bonds and mutual funds. Brittany Pickell often comes across investors, who are surprised to learn of these alternative investing options since most brokerages only offer stocks, bonds and mutual funds.  

 

Brittany is the Director of Marketing and Sales for Next Generation Trust Company, helping to educate the marketplace about self-directed IRAs as a wealth-building option. On today’s episode, she explains different types of retirement accounts, restrictions, and best practices when using your retirement account to buy real estate and other alternative assets.

 

Partner: Get Your Early Bird Tickets to the Midwest Real Estate Networking Summit

 

Key Market Insights

• Many investors are not familiar with self-direct retirement accounts
• Institutional brokerage accounts steer investors towards their funds
• Retirement industry is $20 trillion industry – only 3-4% percent are invested in alternative investments
• Self-direct IRA and Retirement Plans are similar to other retirement plans but offer more options and control for investors
• If you use your IRA to invest, your gains remain tax-deferred (traditional) or tax-free (Roth)
• Mortgages are allowed, but must be a non-recourse loan
• Other options are to partner with other individuals or their IRAs
• Cannot buy or sell directly with disqualified people – ascendants, descendants and their spouses (parents, children, grandparents, grandchildren)
• Solo 401k allows you to contribute salary and business earnings
• Other account types: Coverdell Education and Health Savings Accounts
• The number of 65-75 years old who have filed for bankruptcy has tripled
• People need to be careful of checkbook control to ensure they follow all requirements as an IRA owner
• Penalties include early withdrawal fees, taxes, and back taxes

  

 

Bull’s Eye Tips:

Winning Your Market: Be educated

Tracking Market Changes: Industry publications like Ascencus

Daily Habit: Working out and coloring

 

Resources:

Best Business Books:

How to Win Friends and Influence People by Dale Carnegie 

 

 

Digital Resources

Podcasts

Akimbo – Seth Godin

 

 

Tweet This:

“If you’re buying stocks, how much control do you have over that company?”

 

“If you use your IRA to invest, your gains remain tax-deferred (traditional) or tax-free (Roth)”

 

Places to Grab a Bite:

BBQ – Hot Rods

Asian Fusion – Origin French Thai

Diner – Tops Diner

Breakfast – Jenny’s Café

 

Connect with Brittany:

Email: brittanyp@nextgenerationtrust.com

 

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