Welcome back to the Micro Empires Podcast! I’m your host, Jennifer Ives Grimson. Today my guest is Mike Todd, a very passionate and enthusiastic real estate investor and also the business development manager of IRA Innovations. In this episode, we will talk about how to invest in real estate by moving an old 401k into a fund without taxes or penalties and use that fund for investing in real estate and stocks.

Let’s dive right in as we talk about the investment vehicles for positive returns.

[00:01 – 11:51] Opening Segment

  • I introduce Mike to the show
  • Mike talks about his background and money culture growing up
    • Live within your means
    • Conservative investor
  • Mike talks about the self directed model
    • A marketing term
    • The investor being in control
    • The custodians are just administrators
    • Proceeds go back to the IRA
  • Limitations around the IRA
    • Investors won’t have access until their retirement

[11:52 – 16:15] How to use your IRA

  • I share my personal experience with self-directed IRA
  • Real estate investing
  • IRA as a private money lender
    • Can be rendered like a bank
  • Quick shoutout to my Podcast Producers: Streamlined Podcasts
    • Use promo code: JIVES and get a discount

[16:16 – 23:44] Solo Member 401(k)

  • Simplified 401k for small businesses that have no employees
    • Setup underneath the business plan
  • The employer/employee can contribute up to 25% income into the plan
  • Lowers adjusted gross income and lowers the tax bracket
  • The 195 employee deferral is applied across all the 401k’s
  • Mike talks about the borrowing capabilities of 401k’s
    • Create a plan document to describe the terms of how the plan will operate
    • Select the ability to borrow against the plan
  • Fair market rates
    • You can’t pay yourself back in excessive or reduced amount

[23:45 – 27:21] Closing Segment

  • Mike’s financial advice for people
    • Live below or within your means
  • How to connect with Mike
    • See links below

Tweetable Quotes:

“When we say self-directed, we simply mean you are 100% in control and you have to go find your investment.” – Mike Todd

“Live within your means.” – Mike Todd

Resources Mentioned:

If you’d like to connect with John, you can email him at mike@irainnovations.com or you can call him at 615-794-8961.

You can connect with me on LinkedIn, Twitter, Instagram, and Facebook. I’m excited to hear more about you. I’m excited to know more about you. Also, feel free to shoot me an email at jennifer@micro-empires.com. You can call or text 213-973-7206

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This podcast is about YOU.  We all have a story, whether your story is a lot like mine or totally different. Maybe you have a good job, but you know in your heart that you want more.

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