Establishing an IRA and securing life after retirement is important for people and the American government. The IRS recommends that the average American should start saving now for their retirement years. However, it may be challenging to do this.
IRA Financial Group claims that it can assist you by providing professional advice on how to grow your IRA savings quicker than more traditional assets like equities, bonds, or mutual funds.
The following will be examined in this article: What are the advantages of working with an IRA company vs managing your account independently? Are there any potential risks or drawbacks of hiring a company like IRA Financial Group for your IRA?
Advisory! Prior to diving into this review, we’d like to stress that at Investors Circle, our mission is to protect your wealth. We know that our research reports may alter your investment decisions, so we want to be 100% sure you are investing your hard earned money with the right company!
With this in mind, we urge you to check out our list of the top five companies in this space (we found 1 that fits 99% of investors needs)
See if IRA Financial Group made our list this year, or continue with this review below to see if they are possibly the right company for your investment needs.
IRA Financial Group was founded in 2010 by Adam Bergman, a former tax and ERISA attorney who practiced at some of the top law firms in the world.
The company, which has its corporate office in Miami, Florida, offers self-directed IRA coaching to help retirees take control of their finances. Additionally, the IRA Financial Group helps clients save money in IRA, self-directed IRA, 401(k), and other retirement funds by using cutting-edge banking technology.
Over the past 12 years, the firm’s professionals have helped more than 21,000+ clients invest $4.6 billion in alternative assets.
Pros and Cons
Assists you in starting new investments
Offers guidance on how to make the most of your self-directed IRA
Has a physical location, which is also very reassuring
Holds accreditation from the Better Business Bureau as one of the most reputable companies in this industry
Offers options to invest in gold and cryptocurrencies
IRS audit protection
Founded by tax law specialists
Difficult to find out about the services due to the limited number of online reviews
How IRA Financial Group Works
The company performs the role of “fund administrator,” as it calls it. This means that the firm helps you create new IRA investments and maintains your retirement account.
IRA Financial Group is registered with the IRS and provides individualized service and attention. The firm has made it a priority to make investing in alternative assets for a retirement account as easy as possible.
It achieves this by using specific technologies and banking practices to make the process as simple and easy for its clients as possible.
The company can describe your present retirement account and make suggestions for investments that might be more suitable for you than the ones you have now. Additionally, it offers tips on how to avoid paying taxes or how to save money for retirement.
One thing to like about how the company works is its full transparency on fees. They are displayed on the website, including:
Self-Directed IRA: $300 per year.
Self-Directed IRA LLC: $999 one-time fee or $300 per year.
401(k): $999 one-time fee; $199 per year.
ROBS Solution: $2,500 one-time fee or $100 per month.
Self-directed IRAs are available through IRA Financial Group. There are two options: a Self-Directed IRA LLC or the standard Self-Directed IRA.
Real estate, gold, and other tangible assets can be bought using the self-directed IRA investment approach.
You can withdraw money from this kind of retirement plan without paying any fees.
The benefits of the self-directed IRA are that it is simple to get started with IRA Financial Group; most don’t require a minimum investment, and you don’t have to adopt its investment approach.
You can create your plan for making investments that work for you.
What Is a Self-Directed IRA LLC?
A self-directed IRA LLC is a strong and adaptable retirement platform that gives the owner of an IRA account total control over all investment decisions. In essence, a limited liability company is created for a particular purpose, and you, as the management, have the freedom to choose the investment options.
This is the self-directed IRA’s substitute, according to IRA Financial Group. Any investment that the Internal Revenue Code authorizes is acceptable.
You can fund your account with around $60,000 under this plan. Additionally, you have access to a wider variety of investments through the 401(k) plan. In emergencies or unplanned expenses, you can withdraw up to $50,000.
IRA Financial Group simply explains the self-directed and solo 401(k) plans, and the company offers advice on which is best for you.
Furthermore, the business provides educational materials to help you choose investments for your retirement accounts.
Contact the IRA Financial Group to find out more about this option.
ROBS Option (Rollover as Business Start-up)
The ROBS Solution from IRA Financial Group is another method to invest money using your IRA. You should first establish an “XYZ” corporation before choosing this option.
This “XYZ” corporation is a brand-new business you own completely. Before paying yourself, you will use money from your IRA or another existing retirement account to pay the company. These payments may result in tax-free dividends.
When you take money out of your retirement account and use it as a down payment on a business, the ROBS solution enables you to invest in yourself or another person’s small business without paying any penalties.
Why Put Gold in Your Self-directed IRA?
Individual Retirement Accounts (IRAs) protect both your retirement and the financial stability of your family.
You can save money in these specific accounts that are tax-sheltered for future use.
In order to have a secure future, it’s important to devote a sizable amount of these long-term funds to assets that are reliable and strong.
Cash in an IRA is possible, but it is depreciating quickly, and inflation is out of control.
There is no better asset for this than gold because it is dependable, holds its value over time, and even grows in value.
Uncertainty is at an all-time high as the global economy struggles as a result of lockdowns, shortages, wars, and inflation, and investors are defending themselves by putting physical gold in IRAs.
These economic crises, which have a negative impact on the majority of other assets, favor investments in gold.
Risk is knowing the economic dangers and doing nothing to protect yourself and your family.
Safety is knowing the economic dangers and taking action to protect your financial future, and this is easy to do with a gold IRA.
IRA Financial Group offers a range of investment opportunities, including those in gold, cryptocurrency, and real estate. The company assists you in starting new investments and offers guidance on how to make the most of your self-directed IRA.
On its website, IRA Financial Group provides a variety of educational materials, as well as articles that might help you think of investment options. It also strives to provide you with all the information you need before partnering with it.
Traditional and alternative investment funds may be subsidized by a self-directed IRA because of the process’s many tax benefits and low minimum investment requirements.
Here you can invest in hedge funds and equity funds. However, it is recommended that you pay attention to whether or not you are investing in a prohibited term.
Your self-directed IRA assets are available for investment in cryptocurrencies like Bitcoin. You have the option of supporting cryptocurrency investments through a checkbook or custodian. Anyone can now invest in cryptocurrencies using the digital retirement app thanks to a partnership between the Gemini Exchange and the IRA Financial Group.
What Does IRA Financial Group Offer?
One of the best custodians is IRA Financial because it has low costs, check writing, private business stock, and a range of investing options. In reality, there are neither startup nor storage costs. However, it does charge transaction and custodian fees.
Custodian costs run from $180 to $360 annually, are taken out on a quarterly basis, and are less expensive with checkbook control. Every time an investor trades an asset, transaction costs range from $35 to $45 depending on the asset class.
Furthermore, IRA Financial Group makes the self-directed and solo 401(k) plans easy to understand and gives you a consultation about which one is best for you.
Despite being a smaller company, it offers top-notch customer support via phone or online. On its website, it offers a variety of financial advice, blogs, and podcasts. These go into detail about each investment type and how to properly use a self-directed IRA.
Another unique perk it has is IRS audit protection. This makes sense, as IRA Financial Group was founded by tax professionals.
The fact that IRA Financial Group lets you write checks is its best feature. This business provides customers with a range of affordable investment options.
When a customer opens an IRA account, no fees are charged. Additionally, there is no storage fee. The company charges annual custodian fees, which are, unquestionably, quite reasonable. With checkbook control, the annual custodial charges are less expensive.
Is IRA Financial Group Legit?
We are certain this is not a scam because IRA Financial Group has been in operation for more than 10 years and has a physical location.
The fact that this financial organization specializes in establishing self-directed IRAs, Solo 401(k)s, Robs Options, and making investments using retirement accounts that are permitted under US tax law is, in and of itself, a bonus.
You can compare and contrast other companies in the same industry using this information. Furthermore, you can identify what distinguishes them from one another.
This is usually the most crucial factor when deciding which business to entrust with your financial future. The IRA Financial Group has resolved most issues amicably, which is another positive thing to note.
Furthermore, the company has excellent ratings on Facebook and the Better Business Bureau.
Does Investing in Gold Make Sense?
Since the recent stock market downturn, there has been a lot of debate on the effects of alternative investments. The price of gold and other precious metals has been high during the last two years. Future prospects for gold appear to be improving.
Given that gold is an inflation hedge, it is a more attractive investment when prices are on the rise. As the price of the US dollar falls, gold’s worth rises. Due to the latent inflationary concerns that have reappeared as a result of the current situation of the global financial system, more people are turning to gold investments.
Who Is IRA Financial Best for?
This company is suitable for investors who are looking to work with a smaller firm that offers a range of alternative investments with check writing.
In summary, IRA Financial Group serves as an IRA custodian. This means that it will maintain the security and safety of your retirement account. It also offers investment opportunities such as real estate, gold, and cryptocurrencies.
IRA Financial Group even offers to help you start new investments, as long as these are permitted by its tax legislation. The company has financial experts that will help you maximize the use of your retirement account.