What Is Congress Doing To Our Retirement Accounts?

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Congress is tinkering with the rules for IRA accounts It s part of a crackdown on individuals with millions in their retirement accounts tax free According to the Senate Finance Committee the number of mega IRAs has grown substantially in the last decade In 2011 there were about 8 000 taxpayers with 5 million or more in their accounts In 2019 the data shows more than 28 000 taxpayers had that much in their accounts and another 500 taxpayers with much more than that 1 The legislation has set off alarm bells among investors who use self-directed IRAs to buy real estate In this episode Kaaren Hall joins me to talk about the proposed legislation and the changes that lawmakers are likely to adopt She is the founder and CEO of UDirect IRA Services which provides self-directed account management She started the company in the midst of the Great Recession after the stock market crashed She 39 s been helping people move their retirement funds into self-directed IRAs since then so they can invest in things like real estate land startups and more Before that she spent 20 years in mortgage banking real estate and property management If you d like to learn more about self-directed IRAs and real estate investing you ll find articles on our website at realwealthshow com While you are there please sign up It s free and will give you access to our Investor Portal where you can view sample properties and connect with our network of resources including experienced investment counselors property teams lenders 1031 exchange facilitators attorneys CPAs and more And please remember to subscribe to our podcast and leave a review if you like what you hear Thank you Click here to visit this podcast episode