peter thiel

The $100 Million Dollar Mitt Romney IRA – How You Can Use These Strategies to Build One Yourself

 

mitt romney ira

The Big IRA and the recent Government Accountability Office report

In 2012, during the presidential election campaign between Barack Obama and Mitt Romney, the issue was raised about Mitt Romney’s over-sized IRA. At one point the IRA is reported to have had as much as $102,000,000 in it. Yes, you read that correctly.

Mitt Romney’s IRA was worth $102,000,000.

Even compared to his reported $250 million net worth, this is a sizable chunk of capital to have accrued in his IRA given his approximate 40 years of working experience. How did he do it?

The recent Government Accountability Office report

government accountability office

In October 2014, the U.S. Government Accountability Office (GAO) released a report, “Individual Retirement Accounts – IRS could bolster enforcement on multi-million dollar accounts, but more direction from congress is needed.  According to the GAO, they found that there were 314 taxpayer IRAs which had an account balance of over $25,000,000 and 791 taxpayers with balances between $10,000,000 and $25,000,000. That is a total of 1105 people who have been great investors, extremely lucky, or both. Either way, they have found a way to capitalize on the tax benefits of a Traditional IRA or Roth IRA by growing their capital in a tax-deferred or tax-free manner.

While it may not be easy to accumulate over $100 million in your IRA, you can still use the same strategies that Mitt Romney used to accumulate a sizable IRA account balance.

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10 self directed IRA tips to help real estate investors maximize profits

 

self directed ira tips
 

“Self Directed IRAs are one of the best laws the US government has ever passed”

Can I invest in real estate with my Self-Directed IRA?

“Self Directed IRAs are one of the best laws the US government has ever passed”, an investor once told me. It is hard to argue that point. In 1974, congress passed the Employee Retirement Income Security Act, often referred to as ERISA, enabling US taxpayers to save money for their retirement in a tax deferred manner. The best part of this program (outside of the tax deferred nature of it) is that they allow you to self-direct your savings.

ERISA established the individual retirement account (IRA) as a staple in many investors toolbox for retirement savings. The IRA allows investors to invest in virtually any investment. While most investors think that they are restricted to stocks, bonds, and mutual funds, the choices are much more interesting. Some ideas that I have seen include: real estate, tax liens, private mortgages, dressage horses, farmland, sports franchises, timberland, physical gold and silver, raw land, private company stock, oil & gas LPs, franchises, and more. With all of these choices and more, you should have already come up with some ideas that could make for interesting investments.

Real estate and real estate related investments is definitely the most common asset type when it comes to self directed IRAs. Whether you are a professional investor or a novice, you probably have at least a basic understanding of how real estate works. Here are 10 self directed IRA tips for investors who want to invest in real estate with the IRA.

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