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In the 1978 movie “Midnight Express”, the sympathetic protagonist Billy, a US citizen, is caught trying to smuggle several kilos of heroin out of Turkey, and is sentenced to four years in a prison under horrific conditions. His hope for extradition seemingly dashed, he is resigned to living out his life in the mundane routine […]
Continue ReadingIn a recent interview with CNBC, when asked if a young individual investor should buy stocks or his first single-family home, Warren Buffett recommended buying a single-family home with a 30-year mortgage. In fact, “if the young individual investor is a handy type, he could buy a couple of them at distressed prices and find […]
Continue ReadingDon’t let the little issue of RMDs or required minimum distributions get lost in the blur of the holiday season. The IRS makes it painfully clear that they are envious of those of you that are over the age of 70.5 and have an IRA or other retirement plans. Interestingly, the Roth IRA holders are […]
Continue ReadingAccording to a recent article published by CNBC entitled “Buy Foreclosures With Your IRA”, many investors are beginning to take advantage of the downturn in the market by investing in foreclosures through their self-directed IRA. The article notes that Cincinnati resident Rich Pregel, an investor with experience in the real estate industry, decided to invest […]
Continue ReadingThere is a common misconception out there regarding self-directed IRAs that you have to already have a lot of money in your IRA to get started with self-direction. Here’s an example of an investor who started out with just a 5,000 contribution to her self-directed Roth IRA. This particular investor had some friends in the […]
Continue ReadingThere are certain phenomena that can only be explained through experience. Once such event is what happens when you achieve the age of fifty. When I was thirty, my viewpoint of those meeting the mid-century milestone was a bit jaded. It seemed that the “older” generation’s musical tastes included artists such as Johnny Mathis, Andy […]
Continue ReadingFor those of us that are sports fans, both football and basketball drafts are once a year events that require a great deal of strategy and preparedness on the part of the drafting teams. For example during the NBA draft, a team only has 5 minutes to decide what choice to make once they are […]
Continue ReadingYou are never too young to start saving for retirement! When we work with clients who start a retirement plan later in life, more often than not, they regret waiting so long to get their plan in action. If you are a young adult in your mid 20’s to mid 30’s with any amount of […]
Continue ReadingA former men’s hockey coach at the University of Virginia recently decided to use his self-directed IRA to purchase real estate in the form of an ice-skating rink that was on the verge of closing. He got together with six other investors and contributed $300,000 from his own IRA in order to save the ice […]
Continue ReadingThere is something therapeutic about flying. No, not the shuffling through the TSA gauntlet, the detangling from the hordes of little ones returning home from Orlando with their skull caps adorned with plastic ears and clutching their furry souvenirs. No, the respite comes once sufficient altitude is obtained, the drink order delivered, and the electronic […]
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