Podcast Episode #211: Bernard Reisz – The Advantages and Caveats of Checkbook Control IRA and QRP Investing
Episode #211: Dentist Freedom Blueprint Podcast
Bernard Reisz – The Advantages and Caveats of Checkbook Control IRA and QRP Investing
Bernard Reisz is back on the show to continue our conversation about self-directing alternative investments. (Be sure to check out last week’s episode before listening to this one.) Today we’re talking about the incredible opportunity in flexibility and the importance of being educated in order to do this effectively.
Listen in to hear the different structures that need to be in place when it comes to self-directed investing and how to make the most of your tax advantage status. You’ll learn how to implement the right structures to give you direct control over your funds, how compliance burden works, and how to create 401k plans that are less affected by this and have smaller costs.
1:41 – How Bernard defines an ideal client.
3:53 – The benefits of using checkbook control and who might benefit from it.
5:20 – How to implement structures that give you direct control of your funds.
7:15 – What a solo-401k is and who qualifies for it.
9:57 – How things change when you own your own business with employees.
11:24 – Misconceptions about what qualifies as a trade or business and the investment implications.
12:59 – The best option for those who own businesses.
15:09 – Basic rules for having a checkbook IRA.
17:23 – How a non-recourse loan works.
20:25 – What to do if you’ve accidentally done a prohibited action—and how to mitigate the risk of doing so in the future.
22:39 – The importance of working with the right people.
Featured on the Show:
Bernard Reisz: LinkedIn | Investopedia | Twitter | Facebook
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think):
1. Listen to my weekly podcast:
“The Dentist Freedom Blueprint.” Listen at: www.dentistfreedomblueprint.com. It’s where I connect with my Trusted Advisors and other industry Influencers to dig in deep, sifting and sorting strategies for growing wealth tax-free, creating tax deferral compounding strategies, and building real net worth through sustainable passive cash flow.
2. Grab the first 3 chapters of my latest book:
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3. Apply To Visit The Mastermind:
If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit this link to apply for a seat. www.freedomfounders.com/step-1
4. Want to Move to the Front of the Line? Fast Access Insider Group:
If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call 888-548-5855 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access Insider Group – we’ll set up a time to talk, find out about your goals, and see if there is a fit.