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.

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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:

Bernard Reisz: LinkedIn | Investopedia | Twitter | Facebook
401k Checkbook
Agent Financial

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