SDIRA - The good, the bad and the scammed....

[David C.]

BP Crew,

I am currently interested in creating my self directed IRA, but have read some posts where people have had interactions with questionable, and outright unscrupulous SDIRA entities. For those who created SDIRAs, can you provide me with your experience, insight and recommendations? Thanks!

[Brian Eastman]

@David C.

Most any IRA provider you choose to work with will be a quality organization. Be sure there is a registered custodian involved. They are regulated in the same fashion as big banks and brokerages.

I suspect anything you may see that is referring to "scammy" activity involves an investment provider recommending the us of a self-directed IRA to participate in their "opportunity". IRA custodians do not offer investments, they are processors and recordkeepers.