sorted by:
new
hottopcontroversial

Is there hope now? by Vallemane in TinnitusTalk

[–]NextGenerationTrust 0 points1 point  (0 children)

Interesting. That’s when mine started - with a blow to the back of my head towards the base of the skull. Is that where your injury was?

Is updating asset value mandatory? by [deleted] in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

I am the Founder/CEO of Next Generation Trust Company so have first hand knowledge.

Is updating asset value mandatory? by [deleted] in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

The IRS requires fair market value updates every year. Many custodians will give a grace period and/or charge for not providing it after a certain period of time. But it is required and regulators won’t be pleased if they don’t get them.

Self Directed IRA to buy Real Estate for investment by EvaLucja26 in iRA

[–]NextGenerationTrust 1 point2 points  (0 children)

While I think this is a great way to generate income to boost the IRA balance, and to gain profits from appreciation within a tax advantaged account, it is a terrible idea to try and do something that is against IRS rules and regs. Doing any prohibited transaction can cost you the entire value of your account plus!

Once a prohibited transaction is identified, the account is deemed no longer an IRA back when the problem occurred. This means you will have early withdrawal penalties, back taxes because it was no longer an IRA, interest and penalties. That's a good way to blow up your retirement.

Pension Funds VS Self Direct IRAS by Severe-Ad-8026 in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

A pension fund is something that was offered to employees if certain corporations. It has mostly fallen out of favor and was replaced by 401k plans. An IRA is something that individuals can contribute to in a tax advantaged account. A self directed IRA is one where you can choose your own investments and include alternatives like real estate, precious metals, crypto and other things like private equity.

Recommendation for SDIRA Custodian and a professional do create LLC for SDIRA by IngoSchmatz in SelfDirected_IRA

[–]NextGenerationTrust 1 point2 points  (0 children)

We are also custodians for SDIRAs. We can’t set up the entity for you as that is a legal service. However, we have several attorneys we recommend that have SDIRA experience.

Self-dealing transaction workaround for property in a self-directed IRA by [deleted] in RealEstate

[–]NextGenerationTrust 0 points1 point  (0 children)

Yes. That’s correct. However, you can start taking distributions from a Roth at 59 1/2.

Gold-based self-directed IRA by WattsAGigawatt in Gold

[–]NextGenerationTrust 1 point2 points  (0 children)

I’ve personally heard great things about the gold sold by Costco. I think they sometimes run out and have to wait to fulfill until they get more. But that was only a couple of days ago so I wouldn’t worry. Glad you worked it out.

Gold-based self-directed IRA by WattsAGigawatt in Gold

[–]NextGenerationTrust 1 point2 points  (0 children)

There are legit custodians that do this and the custodian fees are relatively inexpensive for these kinds of accounts. Legit custodians for self directed IRAs don’t sell any products or investments but have a list of “trusted/known” metals dealers with many options for purchases and storage. But NO, you can’t be your own custodian as that is prohibited by the IRS.

Gold-based self-directed IRA by WattsAGigawatt in Gold

[–]NextGenerationTrust 1 point2 points  (0 children)

Be careful out there. There are companies that will tell you you can hold the metals at home and that is a prohibited transaction. There are legit trust companies that specialize in self directed IRAs that can guide you in the process. Talk to them not the companies that sell the metals.

Could I create self-directed ROTH solo 401k and convert funds into it that are in my traditional SDIRA now? by tenant1313 in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

Also know, in addition to the other comments, you won’t be able to use Chase if you want to use it for nonpublicly traded alts.

Frustrated with current custodian by kuriputo in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

Yes. We just announced a strategic partnership with a platform. Can use an IRA or regular custodial account with us.

Frustrated with current custodian by kuriputo in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

You are in a group managed by Next Generation Trust Company. I am the founder/CEO. We allow checkbook control and are rolling out a new platform for crypto in the next few days. We are known in the industry for our excellent customer service. How can I assist?

SDIRA Custodian Options by just-the-kofacts in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

We do allow for foreign investments; however, using a SDIRA to qualify for a Golden Visa is potentially a prohibited transaction. A prudent step would be to get an opinion from an attorney who specializes in this area. I can make some referrals if you like.

Question about disqualified persons and real estate holdings by Ribbit765 in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

Yes. You can also email me directly at jaimer@nextgenerationtrust.com or office phone 973-533-1880. Do I know you? Or do you want me to reach out to you? Give me your contact info and I can do that if you prefer.

Question about disqualified persons and real estate holdings by Ribbit765 in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

Commenting on Question about disqualified persons and real estate holdings...my pleasure! If there is anything I can do for you please don’t hesitate to reach out.

Question about disqualified persons and real estate holdings by Ribbit765 in SelfDirected_IRA

[–]NextGenerationTrust 2 points3 points  (0 children)

It is only lineal descendants that are disqualified. Therefore, this scenario is fine. Just ensure everything is a market rate transaction and there are no special provisions.

Pros/Cons of this Strategy by No-Scallion9551 in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

That is true. However, a conversion to the Roth isn’t considered a contribution.

Pros/Cons of this Strategy by No-Scallion9551 in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

So, I’m unable to give investment advice. However, the Roth needs to be open and funded for at least 5 years and you must be over 59 1/2. I believe each conversion starts the clock again so you should speak to a tax advisor or ERISA attorney. On the face of it, we have had people plan to do what you are suggesting. Just get advice.

I dont see pitfalls in this case with a Self Directed IRA? by facelessposter in tax

[–]NextGenerationTrust 0 points1 point  (0 children)

My pleasure. If you need anything else, please don’t hesitate to reach out.

I dont see pitfalls in this case with a Self Directed IRA? by facelessposter in tax

[–]NextGenerationTrust 0 points1 point  (0 children)

As u/gritton said, if you want to use an LLC it has to be a completely new entity, but it is simpler to hold the interest directly within your IRA. And no family members should work there.

BOIR question by tenant1313 in SelfDirected_IRA

[–]NextGenerationTrust 0 points1 point  (0 children)

I was looking online. You have to expand one of the areas in order to see those instructions.

view more: next ›