Buying a truck with self-directed IRA

You're dreaming if you think they can't or won't. Not confusing anything with social security. Been reading news articles for 2 or 3 years now they are indeed looking for ways to take over private 401K's, IRA's and manage it for you to remove the risk. It will happen. About the last bit of wealth that hasn't been stripped from the middle class.

 

Rollin coal is absolutely right. The total combined 401K investment in this country will plug a nice hole in the government budget someday
Especially if we keep drifting toward European style socialism. There are a vast number of people in this country today who do nothing and have nothing, live on handouts and would "riot" for the chance to vote themselves a portion of that money.

 

Not intending to offer rhetoric or political views. Just simply stating there are lots of people in this country who believe in income redistribution. I Make no mention of party this isn't the place. Also like it or not the federal government issued the money in the first place and if they choose they can take it away from you. Just like eminent domain. "For the greater good"

 

GOP will probably push for it the hardest is the funny part. Keep on dreaming if you think they all don't want to steal that pie they'll do it too.

 

and you heard about these people on the radio and internet ?

 

Nope I learned it at Trucker U. Lol you can learn a lot listening to a bunch of loud mouths at a truck stop. Lol

 

Self directed IRA investments only stipulate that any transaction made must be that of an "Arms Length"... IE you cannot "control" the investment (property) beyond writing the check. However, creative solutions abound if you have a partner that is beyond an arms length in relation to you. But lets not go down that road when you have much better (and less risky) options...

Buy TIPs with your IRA... Inflation protection, then borrow against that protected portfolio at absurdly low interest, get a good deal on your truck because you found your own financing (cash buyer), and then rest assured knowing that your IRA is still growing with inflation, and any principle/interest you pay on your IRA funded loan is going back into the IRA.


p.s. I'm not yet a trucker, but I am a Business Administration major with a minor in Finance

 

this isnt true because people do this with real estate all the time, properties they own.

i know my reply is 6 years old but it is still relevant at any time