What if you could have a cool million dollars in your IRA within a few years so you'd never have to worry about retirement income?
What if you could do this without writing another check to your IRA?
The information you're about to read is unknown to most of the world.
Most people think the way to grow your IRA is to make annual contributions and let the manager of the IRA invest it in stocks and mutual funds.
Then, over a period of 20 to 40 years, it grows into a large sum of money for your retirement.
That's the thinking of conventional wisdom.
Let me tell you how I feel about conventional wisdom.
It's almost always wrong!
Let's take a look at a better way.
I speak to groups of people all over the country and sometimes
I ask how many in the room have an IRA. I have never had more than a third of the class answer yes.
So, why don't more people invest in an IRA?
Here's what they tell me:
They can't turn loose of the $2,000 or $4,000 maximum contribution.
Having the money at hand for immediate usage is a lot more important than retirement.
They never thought about it.
They feel they can invest in other investments that can produce more income.
They know they should but never seem to get around to it.
If you're one of these people, it's probably time for you to wake up and take action before it's too late.
You see, an IRA is about all we have left that our ‘’Uncle’‘ will allow us to use to grow filthy rich without paying taxes along the way.
''But my accountant tells me I can't contribute more than $2,000 for me and $2,000 for my spouse each year.''
Your accountant may be right.
There is a limit to how much you can contribute.
But wait!
Go back and ask your accountant if there is any limit on how much your IRA can make in a year from its investments.
He'll scratch his head and tell you no. . . There Is No Cap On How Much Income Your IRA Can Produce!
''OK, so tell me how I can make my IRA wealthy without making any contributions.''
Keep your shirt on, I'm getting there.
If you're a real estate entrepreneur, you're making money from buying and selling or keeping houses.
If I've trained you, you're doing this by using little or none of your own money. The objective is to create cash and cash flow by leveraging your brain, not your wallet or credit.
Your IRA Can Do The Same Thing
That's right. Your IRA can buy houses, the same way you do.
Of course, there are a few rules and more questions.
I strongly suggest you do not do this without good, competent advice and participation.
I must warn you that Uncle Sam frowns on buying a house in an IRA with the intent of flipping it quickly.
They may tax you on the profit.
Perhaps you may want to hold it in the IRA awhile before you flip it.
Perhaps you'll only do one or two a year.
I can't answer these questions for you and frankly, many accountants can't either.
Seek the best advice you can find and do what you feel is best for you.
Your IRA must be self-directed.
You shouldn't get your IRA involved in any deal you or your entity was previously involved in.
If your IRA buys a house, it should go directly from the seller to the IRA and not pass through you. Don't take back notes on houses and give or sell to your IRA.
Keep it clean.
The last thing I want you to do with your IRA cash is to buy real estate. Why?:
Because You Don't Need Money To Buy Real Estate . . . And Neither Does Your IRA
Put some deals in your IRA that don't require cash.
Of course, there are exceptions and rules. So, take the time to learn about the ROTH and use it.
If you qualify I promise you it will be a huge return on your time investment.
Can you option a property without money?
Yes!
Can you wholesale a house without money?
Yes!
Can you take a house ''subject to'' without money?
Yes!
Can you lease/option a house without money?
Yes!
Did you know your child or grandchild can have an IRA you can start without their knowledge, that can become their own when they come of age?
What a way for you to provide for your child's educational future. Without Writing A Check! Without Borrowing A Dime!
Most people spend more time buying a car, planning a vacation or taking in a football game than planning for retirement.
So, what about you?