1878 FBF: Edwin Kelly - Using the Self Directed IRA, Solo 401k and the HSA to Maximize Your Portfolio
Manage episode 336806159 series 2294384
Today's Flashback Friday is from episode 542 published last July 15, 2015.
The world of long term financial savings plans can leave you dizzy. The paperwork can be pages and pages of jargon which make plans hard to distinguish and administer. Jason’s guest Edwin Kelly from Specialized IRA Services breaks down the Self Directed IRA, the solo 401k and Health Savings Account or HSA. Arming you with the setup cost and annual fee’s to help you make educated decisions about your investment future. You’ll hear solutions to creating wealth and obtaining more passive income through smart investing with a little help from people in the know.
2:15 Self directed IRA investing
4:32 Nathan asks about out of state rental properties
5:32 Have at least 4% of the properties value in the bank as an emergency fund
7:35 Steve asks about Jason’s foundation
9:38 Steve also asks about credit history and bankruptcy
12:32 Asset based financing; a hard money loan
Edwin Kelly Interview:
14:55 Would Donald Trump be a good president?
16:30 Invitation for Warren to be on the show
17:24 IRA Custodians, Administrators what’s the difference?
18:27 What are the fee’s of self-directed IRA’s
19:48 There is no fee sharing or back end money
21:06 A customized approach to IRA’s
25:34 People need passive income
26:13 An everyday example of buy and hold real estate investing
30:37 Solo 401k or Individual 401k
35:12 Solo k paperwork was cumbersome and complex
36:21 $400 annually for a self directed IRA and $700 for a 401K
38:58 HSA - Health Saving Account
40:19 An HSA works by marrying the tax benefits of the traditional and Roth IRA’s
41:48 Are you able to pay for proactive executive health physicals via an HSA?
43:17 Breast Augmentation for medical reasons is a qualified medical expense
45:43 An HSA is not a Flexible Saving Account
46:21 Investing in buy and hold real estate from the HSA
48:01 HSA and IRA are fairly easy to administer
48:46 An LLC inside of an IRA?
51:34 Multiple LLC’s for asset protection
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