Friday, 8 April 2011
Self-directed Ira/401k Accounts -- I Got How Much in Interest?!
This author received a telephone call from "Joe" the other day. Joe was quite upset with a self-directed IRA administrator he had used to assist him in establishing a self-directed IRA for non-traditional asset investments.What was Joe so upset?Well, Joe was upset because he didn't read the fine print of the contract he had with his IRA administrator regarding what he was being charged in account maintenance and balance fees and transactional fees. While the fees incurred were significant, what really set Joe into a tizzy was the interest that he received for his "non-invested" money.You see, on his "non-invested" monies, Joe received 1/10th of 1% in interest. That's right, folks. Joe received 1/10th of 1% interest. You
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