Most underrated gold nugget of an informational video on investing with crypto and blending it with your retirement all ending with less or in some cases - no tax monaaaaaaay.
Hi Kelly. Please set up a free appointment with one of our specialists and they can explain how to set up the backdoor crypto roth ira. directedira.com/appointment/
You guys have some great content, thank you for doing these videos. I have a Roth IRA being managed by a company that has 10+ years of investment in it currently of stocks and mutual funds. Can I convert this to a 'Self-Directed' Roth IRA, then liquidate some of the stocks and use that already established Roth money to buy crypto?
Hi my name is German I have an IRA, I asked my broker to change it to a Roth IRA cause I don't want to pay taxes on my crypto and he said no reason to do that, what are your thoughts on this.
Hey German, I would suggest chatting with one of the team members here at DIrected IRA so we can discuss strategies with you (directedira.com/contact-us/). Once you better understand what your goals are and how to achieve them, it'll be easier for you to instruct financial institutions on what you'd like to do with your money.
I've DCA'd crypto purchases (outside of an IRA) beginning Jan 1, 2021, and because of the current bear market my portfolio is down 12% so would you say that it's wisest to wait until the market corrects and the portfolio gets back to its original basis before liquidating (at least $7k) and, then, fund a SDIRA (via backdoor Roth)? Or, do I take "advantage" of the inapplicability of the wash sale rule and harvest now?
Maybe sell right now as a loss you could claim that on your taxes, and then immediately buy back your exact positions within your Roth and let it grow tax free in there.
In February 2022 I’ll be 59 1/2, is it too late to put my crypto into a Roth IRA? I have a small amount of Crypto at the moment, but.... if it moons it won’t be a small amount. I have no retirement at all, I lost everything ten years ago to a very serious medical event, so this is all that I have. Honestly, it’s my only hope to have any kind of retirement and I’m so afraid to lose it.
Hi Becky I'm sorry to hear that. It's never too late to open up a Roth IRA. You'll just have to wait 5 years from when you open the account to take distributions without any penalties. Please feel free to set up an appointment with one of our specialists and they'd be happy to help you get started. directedira.com/appointment
Hi Randy. Unfortunately no. You would have to sell it to cash and transfer the cash amount to your IRA up to $6,000 or over 50 you can do $7,000 a year. If you'd like you can set up a free appointment with one of our Crypto experts today and go through your options directedira.com/appointment/. Thanks for watching.
If I am on SSDI can I invest that and more into a Crypto IRA without IRS issues? I Receive a Federal Pension, Veterans Disability and SSDI. I am 50 years old.
If you continue to work part time while getting benefits, you are eligible to invest Social Security Disability in a Roth IRA as long as you meet the other qualifications. Disability benefits do not count as earned income, so you will need to work a job in addition to drawing monthly disability to contribute to this type of retirement account.
Unfortunately yes you'd have to claim the L. But remember you can only invest $6,000 ($7,000 50+) a year in an IRA. So you don't need to take out all $50K at once.
I trade new coins on Uniswap. This means I send ETH from my Coinbase wallet to a Metamask wallet to do the trading on Uniswap exchange, then I send the ETH back to Coinbase wallet. Is it ok to use multiple wallets like this and trade on Uniswap exchange in a SDIRA/LLC?
Unfortunately no. IRA LLCs have to be retirement money. So you could sell some of your crypto and do your maximum contribution each year of $6,000 ($7,000 over 50).
After I read the books , can I do everything myself without having to pay a bunch of fee like $295 a year and extra $50 to open account. How about don’t buy the book and go to directly to a company?
Most underrated gold nugget of an informational video on investing with crypto and blending it with your retirement all ending with less or in some cases - no tax monaaaaaaay.
I said so myself. It’s my 5th time watching today. I wanted to enjoy the wow factor, now it’s time to apply info.
This is the first time I have heard of you guys, I'm going to learn more
Glad to know you are enjoying our content. feel free to check all my resources www.matsorensen.com
I need to watch this a few more times. A lot to digest. Need to make moves fast but wise.
Does it have to be on Gemini or can it be any exchange?
What would the actual fees be in the event you took out your gains early? 10% fee on top of capital gains? Or is it a flat 10% fee and that's all?
No cap gains. Ordinary income. Penalty is on gains.
Can I use voyager with a Roth IRA?
I love you guys. Great great great informations. Thanks.🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽
how can one buy a hardware wallet for your IRA LLC?
What about I Trust Capital? For a Roth IRA that allows a wide range of cryptocurrency. Thank you
is there a promo code available for new users?
How do you do a backdoor crypto roth ira?
I'm looking all over youtube and there are no videos!! :)
Hi Kelly. Please set up a free appointment with one of our specialists and they can explain how to set up the backdoor crypto roth ira. directedira.com/appointment/
What if you lost some money from some of your Crypto? Should you wait to move it to the IRA so that you have the capital loss to help your taxes?
You guys have some great content, thank you for doing these videos. I have a Roth IRA being managed by a company that has 10+ years of investment in it currently of stocks and mutual funds. Can I convert this to a 'Self-Directed' Roth IRA, then liquidate some of the stocks and use that already established Roth money to buy crypto?
Absolutely! Please set up an appointment with one of our specialist to help you get set up. directedira.com/appointment/
In my experience Gemini wallet is the most expensive exchange to buy crypto.
Gemini sucks. Trying to get another exchange but as a resident of New York there are few options
@john smith not any more
The cypto assets I hold aren't available in these roth ira accounts.
Hi my name is German I have an IRA, I asked my broker to change it to a Roth IRA cause I don't want to pay taxes on my crypto and he said no reason to do that, what are your thoughts on this.
Hey German, I would suggest chatting with one of the team members here at DIrected IRA so we can discuss strategies with you (directedira.com/contact-us/). Once you better understand what your goals are and how to achieve them, it'll be easier for you to instruct financial institutions on what you'd like to do with your money.
I've DCA'd crypto purchases (outside of an IRA) beginning Jan 1, 2021, and because of the current bear market my portfolio is down 12% so would you say that it's wisest to wait until the market corrects and the portfolio gets back to its original basis before liquidating (at least $7k) and, then, fund a SDIRA (via backdoor Roth)? Or, do I take "advantage" of the inapplicability of the wash sale rule and harvest now?
Maybe sell right now as a loss you could claim that on your taxes, and then immediately buy back your exact positions within your Roth and let it grow tax free in there.
Why is IR S saying any interest earned on your Roth is taxable?
In February 2022 I’ll be 59 1/2, is it too late to put my crypto into a Roth IRA? I have a small amount of Crypto at the moment, but.... if it moons it won’t be a small amount. I have no retirement at all, I lost everything ten years ago to a very serious medical event, so this is all that I have. Honestly, it’s my only hope to have any kind of retirement and I’m so afraid to lose it.
Hi Becky I'm sorry to hear that. It's never too late to open up a Roth IRA. You'll just have to wait 5 years from when you open the account to take distributions without any penalties. Please feel free to set up an appointment with one of our specialists and they'd be happy to help you get started. directedira.com/appointment
Can you move crypto into an IRA that you have bought previously and are holding it in a hard wallet ledger
Hi Randy. Unfortunately no. You would have to sell it to cash and transfer the cash amount to your IRA up to $6,000 or over 50 you can do $7,000 a year. If you'd like you can set up a free appointment with one of our Crypto experts today and go through your options directedira.com/appointment/. Thanks for watching.
Your customer service person told me i can not transfer existing crypto into an IRA.
If I am on SSDI can I invest that and more into a Crypto IRA without IRS issues? I Receive a Federal Pension, Veterans Disability and SSDI. I am 50 years old.
If you continue to work part time while getting benefits, you are eligible to invest Social Security Disability in a Roth IRA as long as you meet the other qualifications. Disability benefits do not count as earned income, so you will need to work a job in addition to drawing monthly disability to contribute to this type of retirement account.
Thank you. And my wife must have her own without me involved I assume?
So if I bought bitcoin at 50k in my personal account can I withdraw it and claim the “L” then deposit into a directed crypto Ira
Unfortunately yes you'd have to claim the L. But remember you can only invest $6,000 ($7,000 50+) a year in an IRA. So you don't need to take out all $50K at once.
I trade new coins on Uniswap. This means I send ETH from my Coinbase wallet to a Metamask wallet to do the trading on Uniswap exchange, then I send the ETH back to Coinbase wallet. Is it ok to use multiple wallets like this and trade on Uniswap exchange in a SDIRA/LLC?
Yes it is.
Can you move decentralized wallets like Metamask or Zelcore wallet into the Roth?@@MatSorensen
GM will be accepting btc.
Could I sell my crypto to my Roth IRA owned LLC's crypto wallet?
Unfortunately no. IRA LLCs have to be retirement money. So you could sell some of your crypto and do your maximum contribution each year of $6,000 ($7,000 over 50).
After I read the books , can I do everything myself without having to pay a bunch of fee like $295 a year and extra $50 to open account. How about don’t buy the book and go to directly to a company?
You still need a custodian to self-direct your retirement accounts. Thanks for reading my book!
@@MatSorensen what is the role of custodian mat?
For al the back and forth you two go on, it would be better if only one person does the video. Time is money, we ain’t have time for that.
Please don't go overboard with being cute!
Fees, fees, fees! lol.
can i open a roth for an 89 year old man?
If he still has earned income you can.
Cryptonauts...
When you pay the piper, that’s a different piper than the Pied Piper.
Good info, way to much silly nonsense
So obnoxious
3 years later after the crypto crash of August 2024- Is this a good time to do this now @Matt Sorensen