Almost 60% of workers in the US said they have less than $25,000 in investments and savings for retirement according to a survey by The Employee Benefit Research Institute. Only about 14% of workers feel confident they have enough money for a comfortable retirement. This is down from a high of 27% in 2007.
Real estate investors have a unique position to capitalize on investment opportunities that they see on a regular basis. They have an ability to option properties or put them under contract for a small deposit. They could assign the option or the contract for considerable gain. The contract or option binder could come from their IRA account. This account should be in your corner bank where you have check book control and the ability to take immediate action, without the delay or approval of your custodian. Thousands of investors are doing this nationwide. I have been doing it for 10 years.
Get the map to your gold mine, so you can do the same.
Yes, majority are looknig for value at a good price and interest rate determines what price buyers are able to afford. Thanks for sharing with our online community, we’d love to hear about your market and its current activities. Feel free to use the community’s free forum, listings or post your service at our directory.
Certainly at IRA is the best place for because of the tax quetsion Roth IRA is best. GLD is your best option. You might also consider CVX. It pays a dividend. My personal option is that oil might be better than . It is being consumed. Gold isn’t. But I might be wrong on that point. Governments do have a habit of confiscation when it is politically expedient. Oil companies could be a target. The hard gold and hard silver out of government’s site is pretty much immune from confiscation. Don’t put it past them. It appears that that many have already come to that conclusion.
This is an excellent first book on the sujcebt of private mortgage lending. If you have no idea if what private mortgage lending is about, it has enough detail for you to understand what the business is about and how to get started. In my opinion, it does not spend enough time explaining the Gotchas . It has plenty of information to get you started but not enough to keep you out of trouble. If you are interested in engaging in this business as a lender, by all means buy this book first, but when you have read it two or three times, be aware that you need to know a lot more about troubled borrowers, real estate inspections and appraisals, real estate title problems, bankruptcy, and local forclosure laws and procedures before you start lending your own money.
$ 40k is a good sum of money to invest in a bseunsis. The stock market is the last place you should head to with as little knowledge as you sound like you possess. Of cause there are billions of dollars to be made from the stock exchange but there are trillions more to be lost by sheer inexperience. Invest in small bseunsis idea where you would not even require any hired help. Unfortunately I don’t have any idea of your closest town but there are always small solutions that are required on a daily basis. There more people make money the more they get lazy. I work as a bseunsis consultant and all I do is charge people for giving them ideas on how to make money. One great idea I gave to a woman who just received money from an inheritance, about $ 20 000, was to start a small school transportation service for the upper class suburb next to where she stays. What she does now is collect all the kids from their houses, take them to school and bring them back home at certain times. The kids didn’t like riding the bus and sometimes their parents were very busy to take them to and fro school. She charges the parents $ 300 a month per child and she has ten kids she takes back and forth from school. All she had to invest in was a good minivan. Look around, people hardly ever good bseunsis advice for free. I know I would open a small handbag shop for women!
, Don’t bet against America.You’ll have more prisnesg issues than finance should matters get to the point where gold might even provide the slightest amount of protection and at that point it won’t matter if some of your money is in gold or not. Best not to worry about the sky falling and leave little chicken to deal with it on his own.
Of course I’d like the getnaraeud high returns and I though that investing, even in my retirement, would drive me crazy because I would be checking my balance too often. After about 2 weeks, I forgot about it and rarely check it. I’ll evaluate my account a few times a year, but for the most part, I don’t think about it and don’t worry at all!
Definitely the stock market is your best bet with 40k. You will need to do exsnteive research, spend a few hours a night with stock news and business cash sheets, and develop your own method of investing where you think your money has the best chance to prosper. These things are absolutely necessary unless you will be giving your money to an investment broker who you probably do not know to invest it for you.I’ve been in the market for a few years now and it is unbelievably fulfilling. It takes much more hard work and sweat than most people think. Good luck with whatever you decide.
malcolm -In theory, my opnioin is that there should be no tax consequence upon transfer of the IRA since the transfer to the trust is merely a change in ownership, the same as an individual receiving the IRA as an inheritance. The IRA will have to maintain the decedent’s name in the title to signify that it is an inherited IRA. Then as distributions are made to the qualified charities, again there is no tax consequence. Bear in mind that I am not an attorney, and as such I may have overlooked something with this opnioin.Since there is no life span of the beneficiary of the IRA (being a trust) and furthermore no life span for the beneficiaries of the trust (being charitable agencies), the entire IRA will have to be distributed within five years but with no tax consequence this should not be an issue.Hope this helps jb
Hi Jim,I read your IRA blog but i have a theoretical sioutaitn that does not seem to fit the norm and would appreciate any thoughts that you might be able to offer. Suppose there is a very large rollover IRA (in the millions) and the beneficiary designation leaves the on death proceeds to the owner’s on death irrevocalbe trust. the beneficiaries of the on death irrevocable trust are all qualified charities. So my question is, is there an income tax liability resulting from the distribution to the trust. The purpose of this arrangement is to avoid any estate taxes on this distribution. Alternatively, would the income tax issue be better avoided by naming the qualified charities as the IRA beneficiaries? Any thoughts you might have on this subject will be appreciated. Thanks.
Even though you will pay off the debts, it still takes a bit to get rerptoed to the credit places, it may be to late if the business is for sale and someone else is interested.You may even can get the business if you have enough collateral to stand good for the loan, however if the business flops and you can’t make the payment, the bank will take your collateral also.