Longboat Retirement Solutions LLC

We’re at War April 14, 2018

Filed under: Uncategorized — larsfforsberg @ 1:24 pm

We’re at war – but with who?

So we bombed Syria yesterday.  What does this mean to you?

Will Syria retaliate?  Sure, but will that affect the average US citizen, and in what way?  What actions could Syria take that would matter to Americans on US soil?  Well barring small scale terrorist-like attacks, not much.  But what if Russia feels obligated to respond as protector of the current Syrian leader?  This could get dangerous.  While as far as we know, Russian military strength aint what it used to be, it is still formidable, and an entirely different animal then the meager defenses of middle eastern states that we’ve been harassing for over a decade.

It is likely that we will find out soon, the path Putin decides to take.  We should all hope that it is one of condemnation without escalation.  If it goes to escalation, we are all in for a long, bumpy ride – or worse.

In these situations, I find it best to control what you can, and don’t freak out about what you can’t.

What can you do to minimize the personal damage to your well being?

Make sure that you’re hedged against the most likely outcomes – whatever you feel those outcomes are.  If you own stocks, maybe you want to move some investment into stocks that will increase in value if another cold war fires up.  If you are invested in gold, maybe you buy more.  If you like real estate, maybe you invest in areas that will have a growing economy in these situations (military base towns).  Maybe you invest in firearms, sugar, penicillin, and iodine.

Whatever your future vision consists of, if you do not have the flexibility to do what you want with your money, you are not prepared.  How can you possibly prepare for the worst if you are represented financially by someone who has their own best interests in mind rather than yours?

Take some time to think about your future plans.  Does your current financial road map lead you to your future goals?  Is your adviser on the same page as you?  Why don’t you take control of your retirement savings and your future with you at the helm.

Call Longboat Retirement today for a free No Pressure conversation.  We are not salesmen who work off of commission, so don’t fret that you’ll talk to some fast-talking, slimy sales person who wants nothing but to close the deal.  Frankly, we don’t care if you decide to go another way – it’s your money, do as you wish.  Call anytime, or visit our website to see what we’re all about.

www.myselfdirectedretirement.com

406-551-4775

Little Red Viking

 

End of Tax Year Sale! December 5, 2017

Filed under: Uncategorized — larsfforsberg @ 1:19 pm

It’s that time again…Time for the end of year sale!

If you’ve been procrastinating setting up your retirement plan, now’s your chance.  For the month of December, I’ve decided to cut the cost of set up to $1,500.  Save yourself some cash and get it off your “To Do” list.  Give us a call or send an email.  Our Solo 401k package is fast, safe, and powerful.  We don’t cross sell.  We don’t sell names, numbers, or addresses like those other fools.  We have no interest in selling you bridges to nowhere, or ocean front property in Kansas.  We don’t walk on water or cure cancer.  We create retirement plans that give you control over your retirement savings – that’s it.

406-551-4775

 

How Does Your Investment Advisor Make Money? March 8, 2015

Longboat Retirement facilitates the creation and initial set up of Self Directed IRA’s and Solo 401k’s.

We don’t push investment schemes, make investment recommendations, or sell financial products.  We do not give tax or legal advice.

This makes us truly independent.  We have no interest in making commission on the sale of any financial or investment products.  We don’t charge fees based on “assets under management” because we do not manage people’s assets.

Our interest is strictly helping our clients achieve control of their retirement and their future.

Lars Forsberg

http://www.myselfdirectedretirement.com

406-551-4775

Little Red Viking copy

 

Maximize the Growth of Your Retirement Savings March 6, 2015

Filed under: Uncategorized — larsfforsberg @ 4:45 pm

Invest in what you know, leverage that knowledge, and maximize contributions.

The following is the true story of a real person who uses a self directed retirement.

You may have heard of this guy.

Mitt Romney, the former Massachusetts Governor and Presidential candidate a few years ago revealed that he had an IRA valued between $20 and $100 million dollars.  That sounds like an amazing amount of money to accumulate in an IRA – some would say impossible.  Of course it is quite possible to do with the right financial tool – the Self Directed IRA.  No doubt Romney had a team of skilled attorneys and insider knowledge of certain companies that he was working with that enabled these extreme results.  You may not have a team of attorneys, and you may not be in the private equity business.  Don’t let that stop you.

Invest in What You Know

Mitt Romney invested in what he knew intimately.  Being in the business of buying companies and taking companies public, he was able to see the inner workings of companies before investing.

Romney used this knowledge to grow his Self Directed IRA to extreme levels during his tenure at Bain Capital.

Now, I’m not here to toot Mitt’s horn or say how great of an investor he was or is.  I am here to profess the benefits of using a self directed retirement account to invest in what you know.

Too many investors rely on information provided by “experts” or “advisors” who are neither.

Often these advisors are nothing more than sales people who are trained and encouraged to push particular stock or bond funds.  Clients who have known me for a while know exactly how I feel about these experts.  This is not to say that their aren’t plenty of knowledgeable financial folks out there who have their clients interest at heart – it’s just that the numbers of advisors that fit this description seem to be shrinking by the minute.

I’m guessing that you have knowledge and interests in products, industries, or companies that may not be widespread – we all do.  What industry knowledge have you gained over the years? Leverage that knowledge.

KNOWLEDGE LEVERAGE

The employees at Bain capital were able to co-invest in the company’s takeover deals.  Bain Capital allowed employees to use IRA funds to invest in a special class of shares that were inexpensive and yielded much larger gains than other shares – averaging 50%-80% annually.

Self directed IRA’s and Solo 401k’s enable Longboat clients to invest in private equity deals that are otherwise out of reach.

Bain’s employees leveraged their knowledge to make impressive gains in their retirement accounts.

There is no limit to the amount of money your investments can make inside of your retirement account.

Read that again.

Let that thought digest and think about the ramifications of that statement.

In other words, investments made with your retirement account can grow exponentially, much like the investments of employees at Bain capital….and they grow tax free.

Do you know of any investments that can grow more quickly than publicly held stocks?  Many people do; Maybe you do too.

HIGH CONTRIBUTIONS

For 2014 contribution limits to a Self Directed IRA are $5,500 with catch up totaling $6,500 if over the age of 50.

The maximum contribution to a Solo 401k for 2014 is $52,000 or $57,500 with a catch up contribution if over 50 years old.

As you can see, if you are able to set up a Solo 401k, your ability to grow your retirement savings can really accelerate.  You don’t need to have a corporation, LLC, or Partnership to set up a Solo 401k.  You don’t need to have revenue or sales.  You do need to be self employed or be able to create some self employment.

It’s the combination of high contributions and knowledge leverage that enable self directed retirement account holders to grow their nest eggs to levels that seem impossible.

 

How Simple is it to Start a Solo 401k – Part Three February 28, 2015

Filed under: Uncategorized — larsfforsberg @ 2:50 am

What other issues have our clients experienced while setting up their Solo 401k?

Essentially once clients have cleared the hurdles put in place by their previous custodians and negligent bankers, the process is smooth.  It is vital that clients continue to “encourage” action on the part of their previous custodian – through the entire process.

The other part of the puzzle that can slow down the creation of a Self Directed Retirement Plan, is a client who is tenative about taking ownership in the process.  It is imperative that clients take action and sometimes it is necessary for clients to step outside of their comfort zone.  This may entail talking to a banker or making several calls or visits in person to their local financial institution to straighten out some confusion.

The paperwork by itself is straightforward and simple.  Most people find the process to be surprisingly quick, after dealing with banks and custodians for so long.  The pros at Longboat can set up a 401k Trust the same day that we receive the required information.  It usually takes a week to ten days to get a Solo 401k set up and funded.


What are you waiting for?

Little Red Viking

 

How Simple is it to Start a Solo 401k? – Part Two February 22, 2015

Filed under: Uncategorized — larsfforsberg @ 8:37 pm

What are some of the stumbling blocks clients encounter while getting their Solo 401k started?

The number one problem encountered by clients is slow moving custodians.  It is not in the best interest of custodians to help their customers close the IRA or 401k that the custodian manages.  Therefore, these custodians will take every opportunity to drag their feet and delay the client’s removal of their funds.  In other words, if you want action, you will need to encourage (agressively) your previous custodian.

I have personally seen these custodians send checks rather than wire – this causes a delay of up to 3 weeks!  I have seen custodians send the check to a person rather than financial institution – this causes an additional delay of a week or so.  And, recently, I saw a combination of the two; the custodian sent a check to our client, which caused a week delay, and the fact that they sent a check delayed the process by over three weeks!  This means that the custodian was able to claim that it held or managed these funds for an additional month.  That means money in their pocket.  These situations are extremely aggrevating for me, and unfair to the people who are trying to get their money back from these crooks.  I encourage all of our clients to really push for a wire to their newly opened Trust account.  This method puts money in clients’ account within days, not months.  If a custodian wants to charge you for the wire, I suggest that you raise hell.  If you are unable to get them to wire the money for free, I think it is worth paying the fee.

Stay tuned for Part Three, where we’ll discuss the other issues clients have had when opening a Solo 401k.