Fairfax, VA (PRWEB) December 08, 2011
Today the Financial Success Institute announced a new way for people to put real estate in an IRA that it says the tax code allows but most people overlook.
CEO of the Financial Success Institute, Richard Geller, said today that the real estate self directed IRA may not be the best way to go for those people who have retirement funds in a qualified retirement account, and who want the perceived benefits of owning real estate inside their retirement plan.
Geller noted, "real estate may be hitting the bottom and may be a good investment for people who want to avoid the stock market. But most folks only think about putting real estate into their IRA. Real estate in an IRA is good, but there are even better ways for people to discuss with their financial advisor if they would like to have real estate in the IRA."
The Financial Success Institute has set up a special page showing a new way to put real estate in your IRA.
Geller said that the IRA requires a custodian. "This custodian is a third party and there are great custodians out there but they may tell you that you can't do something. They have fees that can be pretty stiff. And it's hard to put real estate in my IRA if I have to get permission from a custodian and can't eaily write checks that may need to be written very quickly to take advantage of outstanding real estate deals."
Geller said that he himself used to have a self directed IRA. "I put real estate in my IRA but now I have learned through our panel of experts that it is better to own real estate not in an IRA but in a self directed 401K.
"Always consult with a good tax advisor who knows your situation and the law," Geller said. "And make sure you head over to see what our panel of experts is finding out regarding real estate in your IRA".
The Financial Success Institute is making its findings available on its website at Financial Success Institute.
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