According to the Investment Company Institute Research "there are approximately two trillion dollars invested in IRA's." Baby boomers and other wealthy people own a big bulk of this money. Many people have large estates, therefore have other assets to live on, and they will end up passing their IRA's to their family members down the road. These people have not disovered their family could pay as much as 70 cents on each dollar they inherit. This taxation is in two forms, estate and income tax on these IRAs--Can this happen to you?
Most of these people do not know they can use their IRAs to purchase real estate. It can be done two different ways. Real estate can be owned within an IRA Plan, but there are restrictions and ultimately income and estate taxes will need to be paid. However, there is a better way to use your IRA monies to purchase real estate and own it outright or you can purchase real estate with other IRA holders and share ownership outside the IRA plan.
You can buy a commercial building, land, second home, condominium, an office, rental property, a ranch, etc. This approach takes a design (blueprint) that can save you thousands upon thousands of dollars in taxes and/or depreciation and other write-offs throughout your lifetime.
My Favorite Links
- Sum Total Financial Management
- Own the real estate you want today, OUTSIDE of your IRA plan.
- Art Sparbanie
- We are affiliated with Art Sparbanie at GMAC Mortgage on our IRA mortgage program.
- Sum Total Financial Real Estate Blog
- Check here for the latest news pertaining to our program.
Reasons to use our program - Check these out....
- Exit Strategy: Departing employees with employer stock in qualified plans may want to take a smaller tax bite now rather than a bigger one later.
- April 1, 2005- For years, advisers have encouraged clients to accumulate retirement assets, in part by maximizing contributions to qualified retirement accounts. As retirement nears, these same clients will need help developing distribution strategies for those plan assets, and it's likely that employer stock will be a component of those assets. According to a 2004 survey of major employers by Hewitt Associates, 75% offer company stock as an option in 401(k) plans, and 65% of employees in those companies choose to own company stock, which accounts for 41% of the account balances of these employees.
- RealEstateJournal | Using Retirement Money Now On a Vacation Home Can Pay Off
- A great article about enjoying your real estate investment and the benefits of using monies out side of your IRA or 401k to help finance it.
See What Others are Saying About Us
- Individual Retirement Abode
- Anyone seeking a second home might consider buying it as an IRA -- Individual Retirement Abode.
Press Coverage
- New Program to Use IRA/401k Monies to Purchase Real Estate for Empty Nesters
- With the new crop of empty nesters emerging this fall, second home purchases are on the rise. Sum Total Financial Management has developed an offering for this growing group of investors. It is possible to use the money already accumulated in an IRA account to finance a second home for immediate enjoyment.
- Second Home Buyers Who are Looking to Auctions for Good Deals on Luxury Homes are in Need of Pre-planned Financing
- The housing market is changing and those who are looking for a good deal on a second home are giving auctions a try. Sum Total Financial Management can help by using IRA or 401K funds to provide additional resources to help in funding the financing. This program can be set up prior to finding the perfect home. When the dream home is on the auction block, and there is a frenzy around the sale, action by the investor can be taken immediately knowing they have personally arranged for the financing and that IRA or 401-k funds may be accessed to help pay for them.
- Retirement Plans Need Exit Strategy
- Press Release - IRA exit strategies are being forgotten about until it is too late. When retirement accounts are distributed, the tax ramifications and government plan regulations are costing investors significant amounts of money. The time to act is now, before retirement.
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- ank ank May 26, 2007 @ 9:35 am
- Hi , Great lens. I also created my lens on how to do tax free business. To View the lens click here recently. 5 stars to yours.
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