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AdBits Episode 9 – The Checkbook Control IRA

AdBits Podcast

IRA Financial’s Adam Bergman discusses the benefits of the Checkbook Control IRA and why most Self-Directed IRA investors who are investing in alternative assets should utilize it.




In this Podcast

In our last AdBits episode, we talked about why you need an IRA custodian. If you decided you want to invest in alternative assets, such as real estate, you have chosen the custodian who will allow for this. However, do they offer you Checkbook Control of your IRA funds? A Checkbook Control IRA gives you total freedom to invest when you want, without the need for permission.

One of the biggest factors when making investment decisions is time. It doesn’t matter if it’s a great price on a stock or a new real estate property on the market. The sooner you can act, the better chance you have to make a good investment. If you need to ask for custodial consent before making an investment, the needless delay may cost you.

By setting up an LLC in your IRA, you, as the IRA owner, have total control of your funds. Once the plan is funded, you can attach a bank account to the plan. You can then write a check, wire funds, even use an app to make investments. Further, you can use the same for any expenses incurred by your IRA investment. For example, you can use an IRA-connected debit card to make purchases for a rental property.

Further, the LLC offers you limited liability. Don’t trust a custodian who says you don’t need one, or are better off without it. They’re just looking to pump more fees out of you and push financial products on you that you don’t want or need.

Keep in mind, that a Checkbook IRA gives YOU complete control. It’s up to you to do your due diligence on any investment you wish to make. Lastly, make sure your investment is IRS-approved. Essentially, you cannot invest in life insurance, most collectibles and any transaction involving a disqualified person.

Do the legwork and choose the best custodian for your needs. If you want complete control of your IRA funds, make sure they offer Checkbook Control, if you wish for total freedom.

Stay In Touch

We always appreciate our listeners and we hope you will continue to listen and spread the word. You can find AdBits on SoundCloud, YouTube or your favorite streaming platform. Thanks for listening and if you have any topics you want to see covered, give us a call @ 800.472.0646 today!

Join us next episode as Mr. Bergman discusses the IRA and 401(k) rollover rules and how you can move or transfer funds from one retirement account to another.

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