Selecting a Self Directed or Checkbook IRA
45 DAY SALE
Real Estate is on SALE; and so should Real Estate IRA accounts. The IRA Club is having a 45 Day sale on its industry leading Checkbook IRA account setup.
For 45 days, the cost of a LLC IRA from The IRA Club is:
$1,195
(plus the cost of the LLC filing in your state)
After the sale, the cost returns to the regular price $1850.
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There are two types of Self Directed IRAs:
- Standard Self Directed IRA
- Checkbook Self Directed IRA
Most Self Directed IRA companies offer one kind or the other; hence they may suggest only the type they sell regardless of what is best for you. The IRA Club offers both types.
Each has advantages and disadvantages. An IRA Club representative will ask you how you plan to use your Self Directed IRA and what your goals are for your account. With that information the representative will discuss with you the features of each type of IRA so you can select the type that will help you best achieve your goals. Spending a few minutes speaking with an IRA facilitator that offers both types and can help you understand the differences and can save you thousands of dollars over the life of your account.
One type is not better than the other, they simply meet different needs.
In general most accounts find a Standard Self Directed IRA is both easy and economical.
Standard Self Directed IRA: If your IRA will hold passive investments such as promissory notes, real estate limited partnerships or syndications or a private placement in a business etc. the Standard Self Directed IRA can save you considerable money.
Checkbook Self Directed IRA: If your IRA will directly own rental property, investments that require your IRA to write a lot of checks or your IRA will buy investments at auctions; you may want to consider a Checkbook Self Directed IRA.
| Standard Self Directed IRA | Checkbook Self Directed IRA | |
| Advantages | 1. Low set up cost (about $49 at the IRA Club) 2. Easy and relatively fast set-up. | 1. Annual account cost does not increase with the number of assets. 2. Almost instant availability of funds held in the checkbook. |
| Disadvantages | Annual costs are based on the number (and type) of assets in your account | 1. Set up cost about $1,195* |
