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Topic: Bitcoin Retirement Account (Read 780 times)

sr. member
Activity: 263
Merit: 250
January 09, 2014, 12:03:59 AM
#3
Actually, you CAN buy bitcoins in an IRA today, you don't need a third party like Second Market, and you don't need to be an accredited investor.  Companies like Broad Financial can help you set up an IRA LLC that is wholly owned by your IRA, and which you manage.  The LLC can buy a wide variety of assets, including bitcoins.  You can secure the private keys yourself, and you don't have to pay someone else annual fees to do it for you.

If your IRA LLC that is owned by your Roth IRA, as long as you're age 59 1/2 and follow all the rules, the gains are not taxed.  If bitcoin is successful, this will save you tons of money in taxes!

More details at https://bitcointalksearch.org/topic/how-and-why-to-hold-bitcoins-in-your-roth-ira-yes-you-can-do-it-today-396783.
full member
Activity: 182
Merit: 100
Fourth richest fictional character
November 24, 2013, 03:36:34 PM
#2
This type of product will probably be usable in about 6-12 months. Patience my friend. Smiley
newbie
Activity: 12
Merit: 0
November 23, 2013, 01:19:47 PM
#1
Since the Winklevoss Twins’ Bitcoin ETF may not be on the market any time in the near future, how can I take retirement funds that currently reside in an E-Trade stock trading account (designated as an IRA account) to invest in BTC?  As I understand it, to avoid tax penalties, you can’t just cash out a retirement account (e.g. to just buy BTC over the counter), but instead I need to “roll over” funds to another designated retirement account.  Anyone know of a tested strategy to get that retirement cash into bitcoin?  SecondMarket's Bitcoin Investment Trust requires attestation of a rather steep >$200K/year income or having >$1M in net worth (excluding home) and I'm not even sure they do IRA accounts.

I see one of the "self-directed IRA" account companies equivocating on bitcoin:
http://www.silverstone.net/bitcoin-self-directed-ira/
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