An IRA, or any registered retirement savings plan, is not usually regulated by its owner. The custodian is a professional third-party or third-party corporation, and you can feel as though your own money is under someone else’s control. Some custodians do not manage gold and silver IRAs.
Meanwhile, it is legal, according to CheckBook IRA, for the IRS to interfere with your account. That should be worrying to Americans. In this CheckBook IRA review, you will read what co-owners Jordan and Steve Sheppherd (father and son) have to say about the issue, including what regular Americans can do about it.
Reputation & Ratings
A self directed IRA is also known as a checkbook IRA, meaning the consumer takes control and manages all the risks. Another name is CheckBook IRA LLC, meaning the consumer becomes a Limited Liability Company with a staff of “1.” There are a great many prohibitions, laws, and rules when arranging an alternative IRA investment, which is where the complexity arises.
But the people at CheckBook IRA (Jordan and Steve Sheppherd) take a personal approach to ensuring their clients know what they are doing. They come across as a fantastic team. Clients feel like members of a big family. No single investment is pushed particularly hard: there are many options, some your IRA custodian is sure to have never suggested. CheckBook IRA’s biggest challenge is overcoming the stigma against self directed, alternative IRAs.
Complaints against CheckBook IRA
Finding anything good or bad said or written about CheckBook IRA is difficult. There are few resources and a hint of scandal without much substance. Yet, the Sheppherds spend a little bit of time on their page defending themselves (and the self directed IRA) against a smear campaign. Apparently, someone they do not name tried to destroy their reputation but their efforts backfired and this individual’s business was brought to the attention of business monitoring agencies.
At the Better Business Bureau, readers will find no complaints and an A+ rating. Business practices at CheckBook IRA are not being reviewed by the government.
The Sheppherds answer all questions asked of them by the organization. Everything appears to be in order and the firm was established in 2005: far enough back in time to have established a reputation the BBB can assess.
In every way, this investment company from Prineville, Oregon, is doing right by customers. Any problems consumers might have refer to the market, not to the company. After all, even if the firm you work with is legitimate, investments always bring with them an element of risk to a greater or lesser extent.
No Further Ratings from the Business Consumer Alliance or Trustlink
Your trail ends with the Better Business Bureau. CheckBook IRA is not listed on Trustlink or the Business Consumer Alliance page. If you want to know more about this firm, it seems the only route left to you is reading their entire website, which is pretty wordy.
The Sheppherds are selling themselves, and with good reason: customers need to know whom they are dealing with. Too often, websites post nothing about a CEO or president. CheckBook IRA goes the other way, providing a life history of founder Steve Sheppherd, enough to show that these are good people. Family came first in their lives; your family’s financial security is also important to them.
Testimonials and their own write-up reinforce the notion that Jordan Sheppherd and dad Steve only want the best for their customers. Carefully chosen wording is aimed at real people. Examples to help clients understand the process are based on real scenarios, including some suggested by clients. They come across as authentic, sincere, and highly ethical.
Switching to Gold IRAs
The Sheppherds advocate switching at least some of your paper holdings into a precious metals IRA. This means that while some of your retirement fund is still linked to shares, stocks, etc., some portion of it is securely rooted in physical wealth. CheckBook IRA can help you get that started. Their company is of course accredited with the BBB, started in 2004, and now has customers in 50 states and 30 countries.
They do not rely on salespeople to help their clients but do the work themselves. If you want to talk, call and leave a message. They aim to be in touch as quickly as possible. Buy gold and silver from them. Shipping is free and insured.
To learn more about the topic of a Gold IRA, watch the video series published by the pair. It is their aim to mentor clients: turn them into their own money managers for a low cost of less than $150.
How do you become the manager of your own account and write those investment checks? According to the Sheppherds, roll your 401k into an IRA and turn your IRA into an LLC company with you at the helm. Visit their gold store to see what possibilities await you. They suggest that one can possess their gold until retirement, but this is debatable. The IRS designates approved depositories. More research will be required on your part.
The Overall Tone
The website for CheckBook IRA has been written in a defensive tone with a wandering feel. Instead of short pages addressing individual topics, the owners have a lot to say. Their defensiveness addresses what they refer to as a “smear campaign” created by someone in the financial sector who sought to discredit the team. This individual has since become the subject of legal action himself, write the Sheppherds.
As they restore their good name, father and son are in danger of giving their business a personal rather than professional quality. While relating to clients is important, many are going to wonder what the team has to worry about and feel put off in spite of their reassurances.
There is also some propaganda here: lots of suggestions and overt statements about the greed in investment culture which could leave regular people with nothing. Some of what they say is undoubtedly true, but there should always be balance, and that is lacking.
Should One Invest with CheckBook IRA?
This is a totally reputable company offering consumers the chance to self-direct their IRAs. While theirs is an alternative notion, conduct some research and consider the matter. Their business has been operating for a decade and the two of them possess extensive knowledge. Their faces are plastered all over the website: Jordan and Steve back their claims.
If you can get over their anecdotal style, there is a lot that is positive about what they are telling consumers. If you can imagine yourself bucking the overwhelmingly popular trend of putting a professional body in control of your assets, then there is the opportunity here to obtain gold and silver assets and maintain total privacy over your holdings.
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