Any thoughts on a good company to use to invest a portion of a retirement IRA into Bitcoin? Also any thoughts on using an IRA to purchase real estate. I have googled it, but am curious what this community thinks. My current financial advisor is not interested in having me as a client if I want to do something other than follow their investment philosophy. #grownostr (even though I mentioned Bitcoin) #investing #finance #realestate
Discussion
Good luck doing it without tax and penalty consequences. Just look at the hoops required to back an IRA/401k with gold, it's intense; purity standards, insurance, detailed book keeping.
I'm interested in anything you find!
The cases I've heard about were all two-step processes. 1) create a company to own the real estate 2) invest in the company in the IRA. My parents did something like this, though it was with a group for a real estate development deal. It was a paperwork nightmare, I think, and mom just took all of it out last year as her RMD + penalty withdrawal (she's in her 70s) to simplify things. Though a lot of that is because the actual deal hasn't gone anywhere. The shareholders had to sue the organizer, so she had a ton of "on paper" money that wasn't likely to ever be worth anything increasing her RMD every year.