Sep 11, 2018
Do you store your wealth in
IRAs? Did you know that you can use that money to invest in real
estate? Want to learn all about private money in the self-directed
space? If you need cash, you need to go where the money is
available to create long-term wealth.
Today, my guest is Edwin Kelly,
founder and CEO of Specialized IRA Services and Specialized Trust
Company, which provide self-directed retirement accounts. Edwin
describes how to create a fortune and build a real estate empire
using your or someone else’s IRA.
Topics on Today’s
Episode:
- In
2017, $24.7 trillion was inside retirement accounts, and in 2018,
it was $25.3 trillion; number increases because of new flow of
funds into retirement plans
- Self-Directed: You have a retirement account
that allows you to invest in anything that the government allows
you to invest in
- $500
billion in retirement accounts is self-directed; small amount
because most people are not aware of what they can do with their
money - options are available
- 172
million Americans have retirement accounts, but only 1% has money
set aside that they can actually invest; self-directing changes it
from 1% to 70%
- $1
trillion is expected to come into self-directed accounts in the
next decade; people will be looking for investment opportunities
that appeal to them
- Stock
market does not generate predictable and consistent income, but
real estate is an alternative and the Holy Grail to make such
income
- People look for alternatives; view stock market
as not viable standalone option
- 5 in
100 Americans were financially secure by age 65; 95% failed to
create financial wealth or security
- Investment uncertainty, fees, volatility, and
taxes affect wealth creation
- Record lows follow record highs in the stock
market; people become emotional and don’t understand the market or
make rational decisions - buy high, sell low
- Create Wealth: Eliminate taxes, fees,
commissions, and uncertainty
- Is
using IRA funds for real estate investments illegal or not? IRS
sets restrictions
- Incorporate private money as part of investment
portfolio and capital structure
- 3
Steps to Success: Open an account, deposit money in the account,
and direct money into an investment
Links and Resources
Mentioned:
Quotes:
“If you’re looking to raise
money, you’ve got to go where the money is.” Edwin Kelly
“Self-directed is where you have
a retirement account (that) allows you to invest in anything that
the government allows you to invest in.” Edwin Kelly
“Most Americans don’t have a lot
of discretionary income or money sitting around.” Edwin
Kelly
“People just don’t trust the
stock market because they don’t understand it.” Corey
Peterson
Don’t forget to download
my Free Workshop Quickstart Video
Series, and if you like
what you have heard please
leave a review on
iTunes.
Text the word MONEY to
408-500-1127 to get my free private money program and credibility
kit for single family.