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Self Directed IRAs
From Transwiki
There are instruments you can not have in a typical IRA account, but you can have in a Self directed IRA. Unfortunately, congress decided to help make their cronies some money and requires you have a special Custodian do everything for you and generate huge amounts of paperwork and fees. (People should be allowed to manage their own IRA savings without strings if they opt to!)
These are banks - and they all seem to practice Gotcha Capitalism . So read the fee structure before signing up.
[edit] Custodians
- Pensco Trust $50 to set up $375/yr + 0.1 - 0.25% of assets + other fees Fee schedule
- IRA Services $45 to establish and $60/year +$20 + $20 = $100/yr? + other fees Fee schedule
- http://www.sunwesttrust.com $50 application $190/year + 0.5% of asset over $38k - allows 12 transactions per year. Fee schedule
- The Entrust Group Couldn't find their fees - I assume the worst if they are not readily available.
Know of a better deal - edit this page and put it up. There are a lot of banks that are greedy with fees..
The government sure should have stayed home when they wrote this one into law - I should be able to do this myself.
