The military has gone into this new program which is similar to a 401K. Does anyone know if you are able to turn make that self-directed? Also, is it a good idea to do so?

@Angel Dross

I'm going to make an assumption here, an employer is not going to allow you to transfer/rollover to another custodian that allows Self Directed IRA investing while you're still employed there.

@Logan Hassinger

So based of the assumption, I’ll essentially have more say once I’m no longer with them?

CPA question.

@Agel Dross

Are you referring to a TSP? If so, I am not aware of being able to self-direct a TSP inot real estate, for example.

However, once you are no longer employed, you can tranfer the TSP to a self-directed IRA or solo 401k plan. 

@George Blower

Yes and no to TSP they have a blended retirement program which is similar to a 401k but you have to submit funds into the tsp in order to get the full benefits.

To some extent your ability to rollover to an IRA could depend on how the plan is set up. The easiest way to determine this is to call the administrator of your plan (who you receive your statements from) and ask them how much, if any, of your account balance can be rolled over to an IRA.

Here is a link with some FAQs that might provide you with some additional insight:  https://www.dwc401k.com/knowledge-center/in-servic...

Note that I have absolutely no relationship with the company in this link.

@Alan Johnson

Thank you so much for the information.

@Angel Dross

Yes, that's correct. A custodian like Quest IRA is great for investing in real estate. I've got a small ebook I put together if your interested.

@Logan Hassinger

On Quest IRA or Custodian IRA's in general ? And how much is it?

When choosing an IRA custodian for real estate in particular, you may want to look for convenience features such as free, online bill pay for your IRA to disburse funds, the ability of your renters to pay their rent to your IRA online, etc.

@Angel Dross

Custodian’s in general. Check out Quests site here. 

Questtrustcompany.com

@William W. Humphrey

Thank you so much for the help.

@Logan Hassinger

I’ll check that out thank you so much. You guys rock !!

I am researching self directed IRA custodians. Three I am looking at are Quest, CamaPlan, and New Direction Trust Company.

Who has feed back on any of these or can add others to the list?

Cheers-
Jarid

@Jarid S. Johnson

I'll let others provide feedback on the particular companies. If you have self-employment activity, you might want to consider a Solo 401k for its many benefits over a self-directed IRA. You would not need a custodian with a Solo 401k as you could serve as the trustee.

@Jarid S. Johnson

Advanta IRA

@Justin Windham thank you, I will look into it. Does your company provide services outside CO? I will look at your site and perhaps we can have a conversation if I have additional questions?

Cheers-

Jarid

@Shane Connor thank you, I will add Advanta to my bookmarks and explore.

Originally posted by @Jarid S. Johnson :

@Justin Windham thank you, I will look into it. Does your company provide services outside CO? I will look at your site and perhaps we can have a conversation if I have additional questions?

Cheers-

Jarid

 We setup plans for clients in all 50 states. Feel free to reach out with any questions.

Thank you Justin.

@Jarid S. Johnson

Take a look at IRA Servicest Trust Company as well. They have been in business since the late 70s and have a provent track record.

@George Blower Thank you sir, I'll them to my list for research.

Jarid

Ok, now that I have a number of trustees to research, I'd like to here from or talk with someone who has an SD-IRA. The prevailing wisdom has often been, "don't touch your retirement money to invest in real estate."

As I get more involved with this world, I'm hearing that redirecting retirement money is a great way to grow your income and build assets. It's a scary thought, however.

I understand how SD-IRAs work, so I'd like to know how you took the leap to moving your retirement funds from a 'secure' position in a standard investment scenario to self-directing your retirement funds into real estate.

My sense: this is a good way to have skin in the game and create a track record, particularly when I start to invite others to invest with me, while increasing my return.

Thank you for contributing your thoughts and ideas, I look forward to hearing about your experience self-directing your personal IRA funds.

Cheers-
Jarid

@Jarid S. Johnson

It is generally recommended that people don't take taxable distributions from retirement funds (especially if that involves an early distribution penalty) to invest into real estate. This conventional wisdom is sometimes repeated on Bigger Pockets because so many forum members prefer real estate to stocks and they consider the distribution. If you can have a retirement account that lets you invest into real estate without having to take the taxable distribution, however, you can really experience the best of both worlds.

I'd recommend reaching out to a few providers to get a feel for your options and any differences from one company to another. An experienced professional should be able to get your questions answered and provide valuable feedback on what past clients have learned when walking the path that you are considering.