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How Distributions Are Taxed in a Self-Directed IRA
Distributions on any retirement account are going to be taxed depending on how your account is set up. Personally, I prefer a Roth account, that way my funds can grow tax-free. My personal intent is to be wealthier at retirement, so I’d rather pay taxes upfront than at retirement. I highly suggest checking out the interview I just did with Mat Sorensen and Hayley Neeley, where we discussed self-directed accounts in depth. https://www.youtube.com/watch?v=d1Bmb27AIl8
Ideas for Paying Down a Variable-Rate HELOC Faster
Paying down a variable-rate HELOC shouldn’t be much different than paying down any other loan. You’ll want to make big payments toward your principal balance, so that the interest is less. If you’re really struggling with this debt, I’d suggest seeing if there’s a way you can restructure it. Reach out to Dan Kraus at Churchill Mortgage to see if there are any products that can help you reach your goals faster. https://www.churchillmortgage.com/loan-officers/dan-kraus
What’s Behind the US’ National Debt
There are two main components to national debt: intragovernmental, which is held by the Federal Reserve, and public debt, which is owned by private investors, institutions, US savings bonds, and other foreign governments. Much of our public debt is held by China. We borrow from China to build up military strength… against China, which doesn’t make much sense.
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