Host: Casey Silveria
Guest: Scott Maurer
An episode with Scott Maurer, the Vice President of Sales for the Advanta IRA. He discusses self-directed IRAs, which allow individuals to invest in assets outside the stock market. These IRAs provide flexibility and freedom compared to traditional retirement accounts. Scott mentions that self-directed IRAs enable investments in real estate, precious metals, and private placements. They allow individuals to transfer funds between self-directed IRAs and brokerage accounts and invest as much or as little as they want in alternative assets.
The conversation addresses the misconception that certified financial planners (CFPs) are necessary for managing investment accounts. It emphasizes the ability of individuals to educate themselves and make their own investment decisions. Self-directed IRAs offer opportunities for diversification and allow investment in familiar assets like real estate.
The discussion briefly covers the logistics of investing in real estate syndications using a self-directed IRA. It mentions that the income generated from the investment goes back into the IRA account, and distributions can be taken based on regular IRA rules, including age restrictions.
In the interview, Scott explains that inherited IRA accounts, including Roth IRAs, can be passed to beneficiaries, subject to specific rules and considerations. Traditional IRAs or 401(k) accounts require beneficiaries to take required minimum distributions (RMDs) over 10 years. However, if the inherited IRA comes from a spouse, they can treat it as their account. For Roth IRAs, distributions to beneficiaries are generally tax-free, providing an advantage of tax-free growth.
Scott highlights the fee structure at Advanta, mentioning a flat fee of $150 to open an account and a yearly fee of $295 to hold the investment. He emphasizes that these fees are not based on a percentage of assets and are more affordable than other financial advisors. The interview concludes with Scott providing contact information and directing listeners to the Advanta website for more resources and information.
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Key Points: IRA’s, Self-Investment
Connect with the Guest!
Website – www.advantaira.com
Phone – (800) 425-0653 ext 113