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Checkbook Control for Your Retirement Plan with Bernard Reisz, Episode 61

August 29, 2018

 

Bernard Reisz is a CPA with extensive experience in alternative investments. He founded ReSure LLC & ReSure Financial Advisors. With a background in financial and tax analysis for institutional and personal investors, Reisz helps to empower investors to take control of their retirement accounts in accordance with their asset preferences. On this episode, Bernard shares tips to leverage tax-advantaged vehicles to maximize your retirement investments.

 

 

Key Market Insights

  • CPA with extensive experience in alternative investments

  • Founder of ReSure LLC & ReSure Financial Advisors LLC

  • Retirement Accounts: 401k and IRAs are tax-advantaged vehicles that earn interests and dividends without paying tax until you withdraw the investments

  • ROTH IRA - no pre-tax deductions, but no taxes on earnings either

  • Eligibility: 401k plan, business income; IRAs, any income from owner or spouse

  • 401k plan contribution components: Employee and employer contribution

  • Traditional IRAs - minimal trading fees. Most fees hidden in actual investments made on their platform

  • Self-directed IRA - flat fees for transactions and/or account balance. No fees on actual investments 

  • Self-directed IRA: Custodian vs. Checkbook Control

  • Custodian - administers a retirement account, including reviewing and processing documents and investing the money

  • Checkbook IRA - set up a private equity investment; transfer all the IRA funds to the entity; IRA owner controls the funds

  • IRA prohibited transactions and disqualified person

  • Checkbook IRA is ideal for multiple deals; Custodians are best for single to limited investments over time

  • Differences: UBIT - Unrelated Business Income Tax, UBTI - Unrelated Business Taxable Income, UDFI - Unrelated Debt-Financed Income (refer to a real estate CPA)

 

Bull’s Eye Tips:

 

Winning Your Market:  Have an investment strategy

 

Tracking Marketing Changes: Read tax codes and learn its significance in retirement account.

 

Daily Habit: Take kids to school. Gives sense of meaning and purpose.


 

Resources:

 

Leveraging the Rocket Fuel of Self-Direct IRAs with Carl Fischer, Episode 29

 

Self-directed IRA for Capital Raisers with Adam Sypniewski, Episode 54


 

Book Recommendation:

 

Where are the Customers’ Yacht? by Fred Schwed Jr.


 

Tweet This:

 

"Determine which retirement account should be set up and your eligibility."

 

"Checkbook control hands the transaction duties to the investor, not the IRA custodian."


 

Places to Grab a Bite:

Starbucks

 

Connect with Bernard:

Website: 401kcheckbook.com

Emails: bernard@resurefinancial.com

 

Leave us a review and rating on iTunes or Stitcher. Be sure to check out more info at TargetMarketInsights.com.

 

 

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