 SD Roth IRA Anyone? (by Baman [AL]) Feb 19, 2018 7:25 PM
 SD Roth IRA Anyone? (by Sisco [MO]) Feb 19, 2018 7:45 PM
SD Roth IRA Anyone? (by BRAD 20,000 [IN]) Feb 19, 2018 9:05 PM
SD Roth IRA Anyone? (by BRAD 20,000 [IN]) Feb 19, 2018 9:05 PM
SD Roth IRA Anyone? (by kevin [FL]) Feb 20, 2018 3:49 AM
SD Roth IRA Anyone? (by LindaJ [NY]) Feb 20, 2018 5:36 AM
SD Roth IRA Anyone? (by Colin [CO]) Feb 20, 2018 7:25 AM
SD Roth IRA Anyone? (by Robin [WI]) Feb 20, 2018 4:12 PM
SD Roth IRA Anyone? (by #22 [MO]) Feb 20, 2018 6:58 PM
SD Roth IRA Anyone? (by Ray-N-Pa [PA]) Feb 21, 2018 4:45 AM
SD Roth IRA Anyone? (by Ray-N-Pa [PA]) Feb 21, 2018 4:45 AM
SD Roth IRA Anyone? (by Baman [AL]) Posted on: Feb 19, 2018 7:25 PM
Message:
Hello Group,
Can you share the pro's and con's for those who have a Self Directed Roth IRA? I have only passive income so I am not sure when I read about the requirement that you must have "earned income" to open this type of account. Anyone like to share their opinion? --108.93.xxx.xxx |
SD Roth IRA Anyone? (by Sisco [MO]) Posted on: Feb 19, 2018 7:45 PM
Message:
I have a SDRoth IRA. The key advantage is that earning inside the account is a non taxable event. So, earn/ capture as much as you can inside the Roth.
If you have a traditional ira, you can convert all or part to SDIRA. --72.172.xxx.xx |
SD Roth IRA Anyone? (by BRAD 20,000 [IN]) Posted on: Feb 19, 2018 9:05 PM
Message:
Baaman,
What my friend Sisco said.
Call my buddy Mike Todd and discuss your situation 1-615-794-8961.
I’ve been doing real estate a self directed roth for years and LOVE the tax free income for life.
Several discussions here - check the archives.
BRAD --68.51.xx.xxx |
SD Roth IRA Anyone? (by BRAD 20,000 [IN]) Posted on: Feb 19, 2018 9:05 PM
Message:
Baaman,
What my friend Sisco said.
Call my buddy Mike Todd and discuss your situation 1-615-794-8961.
I’ve been doing real estate a self directed roth for years and LOVE the tax free income for life.
Several discussions here - check the archives.
BRAD --68.51.xx.xxx |
SD Roth IRA Anyone? (by kevin [FL]) Posted on: Feb 20, 2018 3:49 AM
Message:
{I have only passive income} This will not count for a IRA.
--47.201.xxx.xxx |
SD Roth IRA Anyone? (by LindaJ [NY]) Posted on: Feb 20, 2018 5:36 AM
Message:
There are yearly maximums as to what you can put in a Roth IRA, based on what you earn and your age. But it has to be a W2 earned income. I used to match my child's income during her school years (since one of the max is not more than earned income) and put that in a Roth for her. A spouse can deposit to a Roth if the other spouse has earned income. So a non working spouse can have a Roth if the other spouse works.
Since you have paid income tax on the amount deposited, you earn money and take it out later tax free. You can also withdraw the principal pretty much any time without penalty. You do not have to withdraw at any age and you can pass it to your heirs with lots of benefits.
But you need that earned income. Rents don't count even if you earn them!
--96.236.xx.xx |
SD Roth IRA Anyone? (by Colin [CO]) Posted on: Feb 20, 2018 7:25 AM
Message:
If your spouse has earned income you can contribute up to $6500 ({if over 50). --73.169.x.xx |
SD Roth IRA Anyone? (by Robin [WI]) Posted on: Feb 20, 2018 4:12 PM
Message:
We converted our traditional IRAs to SDIRAs during the lean years and are doing private lending inside them. I can't tell you how awesome it is to see those checks coming in every month and know that I don't have to pay a penny in taxes on them!
If you have significant income from rentals, you can transform it from "passive" income to "earned" income by having an LLC manage it and pay you a salary. This has to be reasonable, typically no more than 10 percent of gross rents. If you have a lot of units, though, that could be a lot of money. You can then contribute up to roughly 24K/yr to your LLC-sponsored retirement account, which they can match up to $6K. So you could potentially sock away $30k/yr into a retirement account.
This is a broad description. I'd suggest finding a CPA that specializes in real estate to guide you further. --204.210.xxx.xxx |
SD Roth IRA Anyone? (by #22 [MO]) Posted on: Feb 20, 2018 6:58 PM
Message:
I've got to second the Mike Todd referral. The man is incredibly shrewd on this subject. Pure genius! --173.25.xx.xxx |
SD Roth IRA Anyone? (by Ray-N-Pa [PA]) Posted on: Feb 21, 2018 4:45 AM
Message:
If your spouse has active income you can open one up
--24.101.xxx.xxx |
SD Roth IRA Anyone? (by Ray-N-Pa [PA]) Posted on: Feb 21, 2018 4:45 AM
Message:
Also if have an existing IRA/401K you should be able to roll that over. --24.101.xxx.xxx |
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