IRA investing

Assuming you still have money left in your pension plan, there are plenty of companies who are more than willing to “help” you invest it and look after it. The problem is, some of these companies don’t necessarily have your best interests at heart!

One of the topics we discussed briefly at the past weekend’s seminar was the fact that you can start or invest in businesses using your self-directed pension plan. There was quite a bit of interest in the subject, so I thought I’d go through some of the details to give you an idea of how it’s done.

In all cases, the big issues are steering clear of disqualified persons and prohibited transactions. Get to know your self-directed pension custodian well - you’re going to need their information, referrals and assistance to make sure you stay within the rules.

A prohibited
transaction could subject all of your pension funds to excess tax, interest and penalties. You can learn more about what it takes to easily avoid the problems in this week’s Online Workshop, available exclusively for First Class Lounge members.