I'm signing up for a Fundrise IRA - tax implications and my review
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- Опубліковано 7 вер 2024
- 👉 SIGN UP FOR UPRISE: www.uprise.us/...
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SUMMARY
I'm signing up for a Fundrise IRA - tax implications and my review
► REIT/Fundrise investments should go in IRAs.
► Like that they're exposing hidden fees in REITs and mutual funds.
► NOT a fan of withdrawal penalties for investments under 5 years.
► Their IRA onboarding + IRA fee structure could still use a bit of work. User experience otherwise good.
Note - A bit more detail on REIT taxes. Ordinary income from REITs currently gets a 20% tax discount due to the TCJA. Still a good idea to put REITs in retirement accounts.
LINKS
► Fundrise: go.uprise.us/a...
This is great. I’ve been with FR for the last 8 months. Will follow your journey on this too
Curious about regular withdrawals (for retirement) sounds like a withdrawal fee, other fees, and wait time is a deal breaker, cuz those percentages can change over time... You are correct about REITs tax rates... but good yields.
Good video on sign up process. I think investment vehicles like Fundraise is great for the younger generation that might not bother setting up an account with Fidelity, Vanguard, Charles Schwab, etc...I use recommend Betterment for the same reason because it takes no work to start up.
Be careful of convoluted accounting, meaning % fluctuation and they could change rules, one can't get your money out, one can get money out withsome per centage or fee or loss
I guess it's been over a year for your Fundrise IRA now. How has it been? Did you stay in it? Did you add another $3K to get the fee waived?
Thanks for posting this video. Have you noticed any additional fees associated with the holding company, Millennium Trust Company (MTC)? I noticed that Fundrise points to the MTC fee schedule, but it is not clear to me when these additional fees apply.
Excellent breakdown. Thank you
I'm glad it was helpful!
@@uprisemoney The thing that people seem to keep missing is that every time you get another dividend put into your account, the 5 year withdrawal clock starts all over for that money. Basically, you can never get out of paying an early withdrawal fee on some of your money. And for that reason, I'm out.
You better post follow-up vids for this Jessica or I’m gonna slap a baby!
Nice vidieo
Is this a standard or Roth IRA?