075: Traditional IRA versus Roth IRA: Converting Investments with Haley Gant

75-Traditional IRA versus Roth IRA - Converting Investments with Haley Gant
Big Mike Fund Podcast
075: Traditional IRA versus Roth IRA: Converting Investments with Haley Gant
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It’s my pleasure and privilege to have with me today Haley Gant an IRA Specialist at Quest IRA, Inc. As an IRA Specialist, it is Haley’s role to help educate investors on how they can use a Self-Directed IRA for their real estate investments, either passive or active, to earn tax-free returns into their retirement account. It is a phenomenal company and we love working with Quest. We’ve done a few webinars with Haley and love working with her as well.

Today we’re talking about self-directed IRAs, UBIT, Roth IRAs, and prohibited transactions when it comes to IRAs. Haley shares her knowledge on these topics as well as a few others. We delve deep into what Quest can offer you and the perks of IRA investments.

Minute Markers:

00:20 – Hello and Welcome

01:00 – A little about Haley Gant

02:24 – What are self-directed IRAs?

07:15 – The basics about UBIT (unrelated business income tax)

16:38 – Traditional IRA versus Roth IRA: Converting Investments

27:30 – What’s the process for converting?

33:00 – Prohibited transactions

39:00 – Final comments, Reaching out to Quest

41:38 – Thank you for listening to the Big Mike Fund Podcast

 

Quotes:

“There are certain types of investments, such as owning debt leverage property in the IRA, investing in a pass-through entity that is owning debt leverage property in the IRA, or if your IRA is investing in an ongoing trader business.” – Haley Gant

“We see a lot of people do cash conversions because sometimes that can be a little bit simpler. You don’t have to nail down a hard value of that asset as if you’re converting the actual asset.” – Haley Gant

“Once you know the smallest of things that you can’t do with your IRA, now there’s this whole other world of opportunity of the things that you can do with your IRA. You just can’t use your IRA, again, to invest in your own business.” – Haley Gant

“You can’t benefit from your own IRA investments. You can certainly self-direct it and choose what type of investments go into that account. You just can’t personally be benefiting from those investments.” – Haley Gant

“As much as I hate to say this, there’s very little predictability in the stock market. While in real estate, there’s a lot of predictability—not guaranteed, but you could see what’s happening.” – Mike Zlotnik

Resources:

Haley Gant, LinkedIn

Podcast.Questtrust.com

Quest Trust Company website

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