PUT THAT OLD 401K or IRA TO WORK
If you are like me and one of the 55 million Americans that was laid off due to COVID19, it’s time to exponentially grow your retirement nest egg, penalty free. Let me explain. If you were recently let go or have a 401k from any previous employer throughout your entire career, yes, including that first job you started right out of college, you can convert that old 401k to what’s called a Self-Directed IRA. This is fancy talk meaning you can buy real estate with that old converted 401k. Yes, that old 401K that’s been on the volatile stock market roller coaster, can be transferred, penalty free, to an account that you can then use to invest into cash flowing and appreciating real estate. I’ve used this tactic since 2015 and my returns far exceed anything I was getting in my old 401ks. Anyone and I mean anyone, who has a 401k from a previous employer, can use this same strategy of investing in real estate through the use of what’s called a custodian. Now, not all custodians are created equal. They all have to abide by the same guidelines, laws and regulations, but they are certainly not all created equal. I recently transferred my self-directed IRA account to Quest Trust simply because of their customer service. They treat me like a human, not an account #. Now, I’ve used my self-directed IRA to buy and hold single family rental properties, issue promissory notes to small businesses, and helped other investors use their self-directed IRAs to invest in apartment syndications that I’ve sponsored.
I’ve been so impressed with everyone I’ve dealt with at Quest, that after using them for months, I reached out to see if they wanted to sponsor the W2 Capitalist Podcast. Excited to announce this relationship has come together. To find out what they can do for you, schedule a free consult with an IRA specialist at http://w2cap.questtrust.com . Quest Trust, the leading provider for self-directed IRAs in the country and my personal label, #phenomenal at customer support.