Ep #211: Bernard Reisz – The Advantages and Caveats of Checkbook Control IRA and QRP Investing

Bernard Reisz is back on the show to continue our conversation about self-directing alternative investments. (Be sure to check out last week’s episode before listening to this one.) Today we’re talking about the incredible opportunity in flexibility and the importance of being educated in order to do this effectively.

Listen in to hear the different structures that need to be in place when it comes to self-directed investing and how to make the most of your tax advantage status. You’ll learn how to implement the right structures to give you direct control over your funds, how compliance burden works, and how to create 401k plans that are less affected by this and have smaller costs.

Subscribe: Apple Podcasts | Android | Google PodcastsStitcher | Spotify | More

Minute Markers:

  • 1:41 – How Bernard defines an ideal client.
  • 3:53 – The benefits of using checkbook control and who might benefit from it.
  • 5:20 – How to implement structures that give you direct control of your funds.
  • 7:15 – What a solo-401k is and who qualifies for it.
  • 9:57 – How things change when you own your own business with employees.
  • 11:24 – Misconceptions about what qualifies as a trade or business and the investment implications.
  • 12:59 – The best option for those who own businesses.
  • 15:09 – Basic rules for having a checkbook IRA.
  • 17:23 – How a non-recourse loan works.
  • 20:25 – What to do if you’ve accidentally done a prohibited action—and how to mitigate the risk of doing so in the future.
  • 22:39 – The importance of working with the right people.

Featured on the Show:

 

P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think):

1. Grab the first 3 chapters of my latest book: “From High Income To High Net Worth – For Dentists.” The Ultimate guide for anyone who desires to build cash flow and net worth through real estate investment without ever meeting a tenant or fixing a toilet. Visit www.freedomfounders.com/free-book-chapters and start reading.

2. Become An Insider: If you’re committed to Freedom, but still building a practice, paying down school debt, or growing investment capital, Freedom Insider is your entrance ramp onto the fast track! Visit www.freedomfounders.com/insider and click the big orange “Become An Insider” button!

3. Apply To Visit The Mastermind: If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit this link to apply for a seat. www.freedomfounders.com/step-1

4. Want to Move to the Front of the Line? Fast Access Insider Group: If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call 888-548-5855 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access Insider Group – we’ll set up a time to talk, find out about your goals, and see if there is a fit.

Join the Conversation

Power Concepts:

Get the Full Episode Transcript:

Download the Transcript

 


subscribe-with-itunes-buttonStitcher-Subscribe-Button