What’s the difference between a fully self directed IRA/401k and an “almost” self directed IRA/401k? Watch the video to find out:
What’s the difference between a fully self directed IRA/401k and an “almost” self directed IRA/401k? Watch the video to find out:
Use the chat on the bottom right or call us at (877) 765-6401
Nabers Group is a A+ Better Business Bureau Accredited business with a fanatical dedication to excellence in customer service and lifetime customer support to our accountholders.
14362 N Frank Lloyd Wright Blvd
Suite 1000
Scottsdale, AZ 85260
Phone: 877-765-6401
Fax: 775-201-1456
Email: [email protected]
Business Hours:
Monday-Saturday 8 am-6 pm MT
Sunday by appointment
Cryptocurrency services provided by Gemini Trust Company LLC.
2 Responses
I have a Self-directed IRA through IRA Financial, and am also a previous student of Jeff’s in the Solo 401K program he offered several years ago. So, here is my question that I hope you can help me with as it could involve several Solo 401K clients.
I have the opportunity to invest $50K into a Jackson Pollock painting that is nearing authentication and my 25% interest could become worth $5,000,000. I realize collectibles are not allowed inside an IRA, but I would not own the painting as a collectible that I display, but as an investment. Is it possible to purchase this interest through my self-directed IRA?
Thank You,
Jim Hicks
Hi Jim. In this case, I believe the collectible status of an asset is going to be universal to the asset rather than your strategy of investing in it. So if the answer to “do people collect this kind of thing?” is YES, then it will be considered a collectible. I would warn against this kind of transaction in a Solo 401k.
But as always, as an investor, use the Solo 401k as a tool and you should have investment money outside of the Solo 401k too. Therefore, if you want to move forward on this investment, do it outside the Solo 401k.
Jeff
(not investment or legal advice)