Author Topic: Anybody get one of the 'freedom IRA's' that Rob Gray talked about in Ep 1063?  (Read 2205 times)

Offline 229Mick

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I've been watching silver drop and thinking about my IRA that earns about $5 a month, and that it might be nice to move to something like this. Has anybody used the guy or method that Rob talked about (http://www.silverbearcafe.com/private/IRAintroduction.html ).

I'd love to hear your thoughts and experiences if you've used him or a similar option.

Thanks for any feedback / input.

nelson96

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 :popcorn:

Offline Prodigy

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I'm in the camp that thinks that sort of setup is extremely unnecessary.  The only real advantage I can see is that when the apocalypse comes that everyone is fearing - you have your metals on hand.  The thing is, that sort of 'end of the world' scenario just isn't going to happen.  I can't imagine any scenario in which the government simply stops closely scrutinizing your IRA contents. 

I can, however, imagine a scenario where the gov. becomes much MORE involved with your finances, to the point where having physical metals on hand for back room bartering could be a good thing.  That sure as hell isn't going to work if you're using documented PMs from an IRA, though.

Also, the thought of having to rebalance my portfolio every year and having to potentially sell physical PMs if their value went up sounds really, really annoying.



Then again, in the highly unlikely scenario I'm wrong, things will be so bad that I don't see anything other than beans, bandaids, and bullets being useful.

Offline CharlesH

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I'm with Prodigy.  I see a need for retirement plans, for me.  I see a need for precious metals, for me.  I have not been convinced of the need to consolidate the two.

Offline fred.greek

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For IRA limits & rules see:

http://www.irs.gov/pub/irs-pdf/p590.pdf 

I was recently looking around at custodians.  This one told me the "set up" fee for the account and LLC creation was $1399, with an annual fee of $200 in the first year, then $136 in following years.

http://www.irafinancialgroup.com/rothira.php

Anyway, read up on "checkbook IRA" accounts, which open up your investment options to anything that is not prohibited...

Offline 229Mick

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Thanks all, my situation is that it's already there in an IRA and just want something as 'arms reach' close as possible. I already asked the credit union where it is now 'what happens if I decide 'to hell with the penalties, give me my money'?'they replied 'then we give it to you'. That's a comfort, but having it in a safe in the floor or something is even nicer.