Epic Real Estate Investing - Self Directed IRA's - What the Government Doesn't Want You to Know... | 1096

Episode Date: November 11, 2020

Did you know that with 401K and IRA funds you can buy real estate without being penalized? In today’s episode, Mercedes, the Turnkey Girl is joined with Carter Lane, an expert at helping self-direct your IRA so that YOU can buy properties with this money! Tune in and learn the power of your 401K and IRA in order to create a more solid financial future for yourself and your loved ones! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. So you want to be a real estate investor, but you don't want to do the work. If there were only a way where someone else could do it for you, now there is. Tune in here each and every Tuesday on the Epic Real Estate Investing Show for Turnkey Tuesdays with your host, Mercedes-Torres. Hello and welcome, welcome to Turnkey Tuesdays brought to you by Epic Real Estate Investing. My name is Mercedes Torres, the Turnkey Girl, and I am privileged enough to be partners in crime with Mr. Matt Terrio, the guy who created the epic real estate empire. For our repeat listeners, welcome back, my friend. Good to see you again. And for my new listeners that are just turning into Turnkey Tuesdays, a very warm welcome to you. I cannot wait to get to know you a little bit better.

Today's episode is a bit unique. As I shared on last week's episode, I wanted to enlighten listeners about what's possible in the realm of creating a more financially solid future for yourself. So I opted to do a series, if you will, that just gives you the listener a keener perspective on resources and avenues that you can explore that aren't always common knowledge. I mean, there are so many opportunities and vehicles that are available to you that often you don't take advantage of because, let's face it, you just don't know about it. For example, your 401k and your IRA, did you know you can actually buy real estate with these funds without being penalized? I know, right? It's interesting that although a 401k and IRAs and

retirement plans in general are common knowledge, the rules of how they work are not common knowledge. And you just have to stop to think, why isn't this information more readily available to you? Well, because you having access to your hard-earned dollars may not benefit an alternate party. For example, your employer or the financial institution that's holding those funds in your IRA or even the government. Because if you draw your money not within the guidelines established by the government, guess what happens? You pay taxes and penalties to who? The government. That said, I thought it would be fitting to invite a very special guest that specializes in educating you the average person how to access your own hard-earned dollars that just may be sitting in an idle IRA or an old 401k so that you can make money on this idle money.

money instead of the government. So please help me welcome to the show an absolutely amazing gentleman that is a wealth of knowledge. I mean, he has helped thousands of clients understand the power of their 401k and their IRA and what they can do with it. He's an expert at helping self-direct your IRA so that you. You can buy properties with this money. I know most of the time you think you can't touch your money. And guess what?

You actually can. And my guest is going to tell you how to do it. So without further ado, allow me to introduce Mr. Carter Lane. Carter, so great to have you on our show. Thank you for joining Turnkey Tuesdays. Hey, Mercedes. How are you? Fantastic.

Carter, thank you so much for not only making the trek to speak at our events to Vegas two weeks in a row, but thank you for joining me and taking time out of your busy day to be here. And welcome to Turnkey Tuesday. Thank you so much. This is exciting. This is really exciting. I'm really glad to be honest. Thanks so much for having me.

You're welcome to share with your clients. Yeah. You're welcome. I'm glad that you think self-directed IRAs is an exciting topic because let me tell you. For me, not so much. But I will say that it does get exciting when I see the magic that you create for our clients. So I want you to tell me, Carter, and so for our listeners that haven't had the opportunity to see you live or to hear you on one of our webinars, tell me about Carter. Who is Mr. Carter?

So I'm a guy that, a little bit background, I mean, you talk about my excitement. in the self-directed retirement space. I mean, if my wife has trouble sleeping, she'll just ask me, what do you again do for a living? And then I go into it and she's down to sleep. So it works out great. It allows me to talk about what I do and she gets a great night of sleep. That's a match made in heaven.

It's a great trade-off. Yeah. So I'm married. I have three children. I've been in the investment space for about 15 years. I've been in the self-directed space for about nine. I invest into tax liens. I do a little bit of real estate, a lot of my money's in the markets.

We do active management. We do a bunch of stuff. And so that's just a little bit about who I am. And we'll kind of talk about if you want what brought me to this point. I will. I want you to tell me about your story because I think your story is remarkable. But before you jump into that, if somebody says, you know, what do you do for a living? I like to say, what's your magic?

You know, what's your forte? What's your specialty? So when people ask, you know, what do I do for a living? I mean, I don't jump into, you know, I do retirement accounts. I mean, I talk about what I do is I help people be able to put themselves into a position so that they can provide for themselves and their families. And they don't have to worry about money long term. So I tell people, I help people provide for themselves and their families.

That's kind of the topic. And then when they ask, what does that mean? Well, I help people with retirement accounts and being able to actually walk away. one day with wealth and not have to worry about how they're going to take care of themselves. That's a perfect explanation to what you do. Perfect explanation. So how did you end up doing this? How did you land here? Tell me your story. So this was never, you know, we all have an idea and a dream and a plan and this was never really the plan that I had set out for myself. I thought I was going to be this huge real estate mobile, you know, owning a bunch of stuff. And, you know, my parents were big investors,

entrepreneurs. My mother worked for a company called Freddie Mac, a large financial institution back in the day. And my mother followed traditional education on, you know, how to retire and how to build wealth. And so she was told to put her, all of her retirement money in company stock. My mother wasn't diversified. She didn't have self-directed retirement accounts. She didn't know what they were. She wasn't structured the right way. But she was, she followed the path of what people, you know, famous folks in that time taught her to do. And then when 2008 came about, we all know what happens in 2008,

my mother, and this happened in one day, she lost three quarters of a million dollars in her retirement accounts because it was in the company stock. On Monday, people showed up to work and the doors were locked. And so she lost all of her retirement. And then she lost her real estate properties that she had.

So at the age of 62, shortly after 2008, my mother goes to sleep one night. They say it was sleep apnea. She doesn't wake up the next morning, sitting in my parents living room and watching my father and his favorite recliner sob uncontrollably. It was almost a scream. It was kind of a weird question he kept asking, but it was like in a very almost a scream-like sound.

And he kept saying, you know, what am I going to do? But it was very high-pitched, you know, what am I going to do? And that's all he said over and over. What am I going to do? Something happens to you when you have traumatic loss like that when it comes out of the blue. Obviously, this man's talking about, you know, what is he going to do? His lifelong partner just passes away unexpectedly next to him in bed. I mean, I can't imagine how traumatic that would be.

For some word reason, I went into my brain. My immediate thought was, you know, what are you going to do financially? Like, oh, you're going to be okay financially. I know mom is really smart with money and I know that you guys are going to be okay. I don't know why that's where my first thought went, but that's where it went. So I was adamant that my sisters and I dug through the family finances, and I remember sitting there and it took us about four days just on the living floor, paper scattered everywhere, phone number scattered,

and we had dug through bank accounts and different types of investment accounts that we thought she had. And I was sure that my mom had a life insurance policy because I remember her telling us at one point, Thanksgiving dinner, she's like, hey, I've got life insurance, don't worry. He's going to be fine in case that happens. So I knew that she had a policy. And so we dug through and we found it. And I'm like, okay, good. Here's her policy.

It's $750,000. So we called a policy and my mother had been too embarrassed to tell her family that she could afford her premium for her life insurance. So my mother at one point was worth millions of dollars, millions of dollars cash and assets investments, passes away with no life insurance. We found out her premium on her life insurance policy was. $66 a month that she couldn't afford. So after the shock of that, you know, we buried my mother.

It was $43,000, you know, when your family member passes away and it's your mom. And my dad wanted to put her, you know, have this beautiful funeral. You know, you don't want to have the guilt and the shame of like, wow, we didn't do it right. And I hope they're okay with it and all these things. And so we scraped enough money to bury her the quote unquote right way, right? It was $42,000. And then after that, I just fell apart. It wasn't like I was immediately ready to get back into the stream of life.

I fell apart. My compass in life got turned upside down. I mean, this is a woman that I looked and I'm like, man, she's followed the rules. She has done everything by the book. She's done it perfectly. And then this is what happens. My father is 71 right now. I'm still looking for another job, by the way.

Oh, my God. Yeah. I've heard you tell this story. I think this is my fourth time, and it gets me every time. It's like I'm hearing you say it, and it's like how many people in this world during, you know, our lifetime have experienced some degree of what you, your sisters, and your father just experienced. So how did you help? I know your dad is 71, and how did you help pick up the pieces, and then how did you land doing what you do? I'm sure that experience guided you to where you are today.

Yeah, 100%. Yeah. So how did I pick up the pieces? I fell apart for a while just in the spirit of being transparent. I mean, I wasn't, it took me a while to get my, I'm newly married at this point. I have little kids and I'm freaking out. I'm terrified because the path that I looked at, right, we plotted a cell as a family and we were going to head in this direction.

It was going to be great. We were all going to thrive and then it's gone. So after I put myself back. together, I knew that I wanted to create wealth in real estate, right? I knew real estate was the vehicle. Best investment in the world creates more wealth than anything. We know that. But I wanted to learn how to protect myself before I went out and created wealth. So I had someone very smart in my life say to me one time. He's like, hey, if you want to learn something, why don't you have somebody pay you to teach you how to do that thing? And I thought that's pretty

interesting. So I went and looked around because I wanted to learn to protect assets. So I found an asset protection firm that was looking for someone. And I spent a little shy of six years with the asset protection firm. And I learned how to protect wealth. I learned everything about, you know, entity structure and charging orders and charitable remainder trusts and all these fancy things. And inside of that, the thing that kept coming up was retirement accounts, specifically self-directed retirement accounts, specifically with trust built into these accounts, which is the way the unified wealth we do with that. And so that was intriguing to me.

So I did some more research and some more studying and found out that there was no one doing retirement accounts this way. Not because you can't. It's just we've been able to do these things since 1974. It's just thanks in financial institutions, they don't make any money by having their clients self-direct. So me with some buddies studied the law. We found out that we were able to do this, this structure this way since 1974 and no one's done it.

And so we started on this journey of building self-directed retirement accounts the right way so that we can help our clients build wealth for the future, specifically in real estate investing. And it's protected inside of the account so that they can go and they can invest their money and do what's going to be best for them and their families. Got it. Okay, so let's break it down to the basics. I like to break everything down to the basics. First, let's start with, tell me specifically, how does one create a self-directed IRA? Can they?

Or just tell me about how does somebody get a basic IRA? Sure. Anybody, so a basic IRA, and I'll just kind of educate your clients just on IRAs in 401 cases, right? Anyone can go to their local bank credit union and open an IRA. It's free, right? You can start sticking your money into an IRA, and IRA is just, individual retirement account. That's all it stands for. You can stick your money into that and that money can be invested.

Your local financial institution would love to invest that money, you know, into what they own, right? Some mutual fund. A 401K, your company, obviously, it's a retirement plan. You stick your money into your 401K. They match it or maybe they don't match it and you're making an average of 5% a year. IRAs and 401Ks can only invest in the stock market. That's it.

And so there are certain rules. If you were to walk into a bank and open an IRA, are those rules different than your typical checking and savings account? Or do the same rules apply? It's different. So it's not a checking or a savings account. It's just a retirement account. So you're going to walk in and say, look, I'm really excited. I want to start my retirement account.

And I think I'm going to go out and crush it. So if you could please help me, they're going to absolutely help you open a simple Roth IRA. if you qualify. Got it. Okay. And so there's certain qualifications for that you'd have to meet. Okay. Great.

Yeah. I'm not going to make you go into the qualifications because that will take us an hour. But that's okay. Yeah, I want to bore everybody. Yeah, you will bore me. But then so tell me, okay, so once you have an IRA or a 401K, and you specifically stated that you were in the space of self-directed IRAs. tell me and tell my listeners, what does that mean?

So an IRA and a 401K can only invest in the stock market. A self-directed retirement account, like a self-directed IRA or what's called a solo 401K, right? These are both qualified retirement plans, self-directed, which allows you to take your retirement money and you can still invest in the market with it. but because the laws that the IRS put in place, you can use retirement money for alternative assets like real estate. Any alternative asset. So with retirement money legally, we can use our retirement money to invest into all kinds of things outside of the market, including real estate.

Anything under the real estate umbrella is fair game with retirement money in the proper account, which is what we provide. Got it. Okay. So you clearly do an amazing job at working with our clients and you do something a little bit different. So how are you different and how do you do things that nobody else does or that nobody knows to do? Perfect. So there's a number of, there's a number of things that we do that are completely opposite of what most, I will say, all self-directed IRA companies are. So everyone else besides us that does self-directed retirement accounts is what's called it called a custodian. A custodian came out and they said, look, we're going to create self-directed retirement accounts for people, but we want to control the money. So with a custodian, when to people set up self-directed retirement accounts, they go to these folks and they say, look, here's my money. I want to self-direct it with you. Here's my money. And the custodian's like, great, we're going to hold on to us. So when you need it, you have to let us know. So when you have your money with a custodian, you literally need to let them know by filling forms out, telling them where you want your money to go. I want to invest into this property or I want to do this

or whatever. And the custodian, because they control that, they get to review your request. Now, the custodian, because they control that money, they can say yes or no. Doesn't mean that you legally can or can't. It just means that they don't have to allow you to. But let's just say that they do. Custodians make their money on you accessing your money in that account. So every time a client wants to use retirement money to invest into something, there's a fee associated with that, a fee for that to go out and a fee for it to come back and a fee for it to come back in.

So custodians built a platform cheap to set up, but they make their money on the back end. And so custodians on average, if a client just does 10 transactions per year, the average custodian charges between $1,15 a year. And it's insanity. You know, if we have to pay fees every single time you want to access money. Go ahead, question. Access your own money. Your own money.

So you're paying fees to access the money. You're asking permission. You're asking for. Yes. you're asking permission, can I please use my money for this? When we know that legally you can, but you have to ask for permission, and then you pay a fee on top of that. So having said that, because you have to ask permission from a custodian, the custodian can say, no, you can't access your money at this point in time, trying to 30 days.

Correct. Because IRS law, and I'm going to try not to bore everybody, IRS law says this. It says, IRS law does not prohibit. investing in the real estate, but your trustee, meaning the custodian, doesn't have to offer that as an option or because of administrative burdens, they just don't have to let you. Meaning if that custodian's like, hey, it's just too difficult for us to do, or better yet, we just don't make any money by letting you do it. We can say no.

Doesn't mean you can't. But again, most custodians are going to be like, yeah, absolutely, because we're going to make fees on the transaction of money, the transfer of money. So they'll make a fee going out, make a fee coming back in. So that's how custodians are built. So how does one avoid this that you're speaking of? So we have built our company not as a custodian. We use a custodian.

So with us, we set up qualified retirement plans. We also build a trust inside of the retirement plan. The trust is the entity that allows your clients to access the retirement money from a bank account. So we set up a self-directed retirement account, build a trust account, and we set them up with a bank account. The bank account that we set up is at Solera National Bank. They're FDIC insured commercial bank.

They're the custodian that we use. So your clients will actually have a checking account at Solera National Bank. For all intents and purposes, their checking account is their new retirement account. So if someone has money to roll over into a self-directed account, their money would roll directly into that checking account. They fully control that money. That money is in cash in a bank account that they control with the checkbook and a debit card. If your client wants to use that money for real estate or they want to do a fix and flip or a rehab or a rental or whatever, a turnkey, they literally write a check, wire money or ACH it from their own bank account.

same day, real time, no fees to do that. Once they've made their money, they can deposit it directly into the checking account. Again, no fees, no penalty, no tax. And they can just rinse and repeat that. It's their money. It's our money. We should be able to use it for what's going to benefit us

and not have to pay fees to do that. So that's why we're different. Exactly. I love that. And I've seen you do it quite successfully. So I just got off the phone about two hours ago with a client that has an old IRA with a previous employer. She was laid off during the pandemic and she was literally told that they're not going to hire her back.

In fact, the company is closing, but she does have $75, $78,000 in an old IRA account. So what would you tell that particular individual that has an old IRA from either a previous employer or a situation because of the pandemic? How walk me through what that would look like for them. So what's happening in people that have retirement accounts from previous employers just because this is the topic they're on. That money is just sitting in those accounts, right? The people leave, well, that company that your money's with is still making money off of you, right?

They're taking fees out of that account. They're still maybe investing that money. So they're charging commissions on that money. And so the money for your client is that $78,000 is, that $78,000, is being dwindled down, right? Because she hasn't moved that into something in her control. She absolutely, anyone that has previous retirement money and even current 401k or IRA money, but we're talking about previous retirement accounts, your client can move that into, again, a self-directed account like we're talking about. It's a simple process of literally setting up

the account and the money is enrolled into the new account. And it just goes from one retirement account to another. There's no taxation that takes place. There's no penalties that take place. She can absolutely move that money to a self-directed account, just like I've explained what we provide, or she could go to a custodian to pay fees to do that. But the point is she can fully control that money so that she can use it for something that's actually going to make her money for the future, like real estate. Correct. So once she does that, is she able to call the shots once it gets self-directed, into a qualified retirement plan once you create the trust and once you create the bank account, is she able to access that money for anything or are there limited things?

There's only two things that we are not able to use retirement money for in this type of an account. I'm ready. You can't buy life insurance with it. Okay. And you cannot invest into collectibles. The law says we can't buy stamps, coins, or cars, or alcohol for some weird. reason. So as long as you're not going to buy your grandfather's old coin or buy some alcohol or life insurance, anything that you can think of to invest into outside of life insurance

and collectibles is fair game with this account. You're in 100% control. So there's the misconception often that if people are to take money out of their IRA, they're going to be taxed and they're going to have to pay a penalty, which I know under certain circumstances, that would be the case if you don't follow the rules. Would that apply if they start working with you and open this qualified retirement account and go through the trust model that you just explained? Yeah, let's talk about what that looks like. So the reason why we get such great tax benefits with these retirement accounts is because remember, the government's like, hey, you guys, we're going to give you the best tools in the world. It's called self-directed retirement.

accounts, you're able to use that money and invest in all kinds of stuff and build wealth, but it's got to be used for retirement. Right. So they've given us a timeframe of you have to be at least 59 and a half before you start to take that money up personally to live off of it. That's how you avoid the tax and the penalty. So here's where the penalties come in place with like your typical IRA or your 401K. If you want to pull that money and touch it personally because you need it for personal use and then you're not 59.5, the government is like, hey, you know what, you're using it not for the proper use.

So we're going to tax you and we're going to penalize you on it. That's a far cry from moving that money into a self-directed account and then continuing to use that as an investment for real estate because you're not personally touching that. It's not like you're cutting yourself a check and going to Disney World or using your debit card and swiping it for a new set of tires on the car. You know, you're using that money for investing for retirement. That's how you're able to continue to build the wealth without penalty or tax. Got it. So let's just say in this scenario that we're using as an example, we do the self-directing, we do the trust, we have a bank account. And then we go out and buy a property, a turnkey property.

property that produces passive income. So now we're collecting $250 a month in passive income. Do I have to put it back into the account or can I use it for my everyday life? It needs to go back into the account. Okay, perfect. Because you're using the retirement account to purchase the turnkey rental, any profits from that, whether you sold that thing, whether you're collecting passive income, all of that money goes back into this checking account that we've explained, that's how you avoid the tax on that. So you can every single month, that $250, $300, whatever dollars, it goes directly into that account. You don't pay any taxes on that growth.

That property that you've purchased inside that retirement account, so your retirement account, let's say the turnkey properties, what's an average turnkey that you sell? $80,000 to $150,000. Let's say $150,000. If you use your retirement account for that and you're collecting your, you're, you're, cash flow monthly and you decide in five years you're going to sell it for 220. All 220,000 gets to go back into that account tax free. Any money that you're using your retirement account for, there's no ceiling on the growth that it can do. You can take 100 grand, turn it into

$1 million tax free by investing into rentals, turnkeys, properties, flipping. And as you're investing, you get to deposit all that money tax free. And then you invest more, you get to deposit the growth tax free. I think my favorite part, of what you just said is the tax-free. I love that. It's so sexy to me. The fact that you can use your money and have to pay no fees other than your very fair set-up fees, but you don't have to ask for permission. And as long as you don't do, the two things that you're not allowed to do, which is the life insurance and buying the alcohol and the coins, you can do whatever you want tax-free.

I wonder, Carter, and I have had this conversation with you, like, why isn't this more public information? Why doesn't the world know about this like we know about your savings account making you less than 1%? Sure. Let's think about that. So why is the savings account so attractive? Well, the bank, again, this is all done because banks in financial institutions, big

banking has shined a light on your savings account or your CD or your IRA or your 401K. Why is that? What happens when we put money into a savings account? We take our money. We stick it into a savings account. The bank gets immediately on deposit. They'll get about 2%. They'll make 2% on the money we stick on deposit.

And then a bank will actually loan out that money, 6, 8, 10, 12%. A bank legally can loan out 10 to Deutsche Bank loans out 19. times what they have on deposit. So if you have a small bank has a hundred million on deposit, they get a loan out 19 times that money. And so it's attractive. Put your money in a savings account. Stick your money into a CD guaranteed 2%. Right. So we look at that. I'm like, oh, I'm a guaranteed 3% in a CD. That's awesome. The bank's making 18% on that money. So why this isn't talked about or a lot of people don't know about is and these have been around since 1973, just so everybody knows.

In 1973, the government comes out with the 401K, the IRA. They also come out with the self-directed IRA and the solo 401K. But all of the light was shown on the IRA and the 401K. Why is that? Banks and financial institutions,

their sole business is stocks, bonds, mutual funds, and CDs. So they make their money off of taking clients, money, all of your clients and your listeners that have retirement accounts, and money into their savings account. And that money is being invested.

Not for them, really, right? Because the average retirement account makes 5% a year. That's not getting people to retire. But what they're doing is, hey, you got to put your money into IRA or the 401K. We're going to invest your money. And then you're going to be able to retire. The self-directed retirement account's been out for as long. It's just you only hear about people like Mitt Romney, right?

Politician just came out that he has hundreds of millions of dollars in a self-directed retirement account. And the people that don't know, they're like, that's illegal. What are you doing? How did he do it? He used retirement money to invest in a real estate. That's what he did. Right. So it's been around for a very long time. But again, your local bank isn't going to tell you to go self-direct your money because they want you to put your money with them. Yeah. They need to tell you what serves them. And so unfortunately, if they use your services or any self-directed services and they start utilizing their money, it doesn't serve them. So this is the whole reason I bring guests like you on our podcast is because I think it's really important that we educate our people. I always said,

and I'm going to go on a tangent, but I wish that financial freedom or just financial knowledge was shared in high school. If we substituted the catcher and the rye with education, on finances, our world would be a better place. And I say that until I die. That's the exact reason. So I also have a charity that I created. It's called Help. And so what we do is the point of this charity is helping teenagers with things that we're

talking about. So in school, they teach you, you know, you're going to go to gym class and you're going to go to sewing and then you're going to go to this. And it does nothing for us long term. So we teach people about credit. We teach people about banking, teach people about investing, teach people about investing. And these are young kids. We specialize in kids in and out of foster care and homeless teenagers. But again, it's that idea because we're not being taught these things. That's why when I talk to

people in their 50s and 60s and 70s, they have no idea about these things. I talk to someone every single day, if not multiple times a day that says I wish I would have known about this sooner. Yeah. And it's true. So we're just here to educate people. We're just here to educate people. It just, it makes me so happy when I speak to somebody and the light ball goes on. and they say to me, I had no idea, thank you. So I'm talking to you, that listener, that you had somewhat of an idea, and I'm hoping that Carter helped clarify it a little more. So, Carter, what would you tell that new investor that has old money sitting somewhere?

What would you share with them that would contribute to them such that your contribution can make a difference to their financial future. Anyone that has old retirement money or even current retirement money, let's talk about the people with old retirement money first. If you have money in a retirement account, whether it's an IRA or an old 401k or some type of plan that you had at a previous employer, capture that money. That's your money. You work very, very hard for it. Move that money because they are not going to make a phone call to you and say, look, you have all this money over here. What do you want us to do with it. They're actually like, don't call that person. No one in this office, call that person and remind them that they have money with us. Why? Because they make money off of that. So I would say

100% move that money. Whether you just move that money and you stick it into a savings account, right, which is not a great idea. I'm just saying at least take control of that money. I would advise you move it into a self-directed account because obviously you're following Epic, the best folks in the world teaching you real estate investing. Use that money so that you can't invest into real estate. Use that money so that you can take and put it into something that's going to benefit you. Not that bank of that financial institution. It's certainly not the commission-based advisor that's managing that money. Maybe if you're lucky. So if you have old money, 100 million percent find out where it is and grab it and move it.

And where do people, I love that. Finish that plot. Stop the fees. Stop the fees. Stop the the commissions coming out of that account because that's what's happening. There's fees coming out, there's commissions coming out of that retirement money, 100 million percent. Oh, so well said. Where do people, so somebody that's left their old employer, like, where would they, if it was, the reason I'm asking this is because I literally, about a year ago, had a client that worked at a company, I don't know, 20 years ago. And he says, you know, I remember I left 20 years ago and I had, I don't know, $25,000. And I just totally forgot about it. How does somebody that one person that I'm talking to out there,

how does somebody find that money from that old employer? Absolutely. And I talk to people like that often as well. I was working this job. I know I had a retirement account. I just don't know how much is in there. All you have to do is call the company. As long as you know the company's name, you call them.

I'm a previous employee. I had a 401k plan here. I just need to know who's managing that money. right is it fidelity is it charles schwab is it t d ameritrade is it merrill lynch whoever and they'll give you that information and all you have to do is call them now the company will probably have records of oh yep you do have a plan here's the information here's who you need to call if not just find out the financial institution and call them directly i have money in a retirement account i want to know how much it is because i'm going to move that bad boy maybe you don't want to say you're going to move it

I'm going to move to bad boy. Just ask him quietly for some help. That's true. Very true. Carter, you're just so filled with amazing information. I saw you speak for four hours, one day and two hours the next, and I still didn't get tired of you, even if your topic is sometimes not because of days. But how does somebody, if they say, okay, I have money, I want to buy cash flowing properties,

how does somebody get a hold of you if they want to just learn a little bit more about what you do, or really to get help on helping them move their money from this absolutely non-performing IRA into an account where they can control. How do they get a hold of you? Yeah, so your listeners, all of your clients, they can text a number. The number is 31996. They can put it in their phone. They're going to text the word self-directed in the text line, hit send, a couple of seconds later, a link pops up. They're just going to fill out some information, their name, their email address, phone number, best time of day to call them. And then there's also going to be a section in there where they can click on where they

heard about us from. So for this particular podcast, they're going to click on the link that says cash flow. That will let me know that it came from this particular podcast. I will absolutely love, and I will make myself personally available to every one of your clients that text in. I would love to spend some time, whether it's to educate them because they don't have retirement accounts and they want to learn what does it look like moving forward. How can I set myself up to be able to retire and to use retirement money for real estate? Or the client that has retirement money, I don't know what to do with it.

I would love to spend some time with you. Allow us to just educate you on what your options are. So now we can make an educated decision on what's going to be best for us, not your bank or your financial institution. Oh, so great. I will have to say that the fact that you're going to speak to every person, and it may take two days to get on your calendar. It may take a couple, but yeah. Yeah, but.

But it'll be me personally, me personally talking to you. All of your clients, I personally will talk to your clients. Now, I know you have a lot of followers, so it might take me a while, but I'm committed if it's a Sunday, I'm talking to you. Be careful what you wish for. We do have amazing listeners. And I will have to say we have listeners. that take action and just the mere fact that they're listening to us at this moment is because they're doing something in their life that's not working or whatever it is that they're doing,

they want to step up. And so that's why they're listening to us. So to my listener out there, it's been a pleasure. Carter and I have enjoyed this time together and educating you, as always, if you want to reach out to me personally, please go to Cashflow Savvy. That's savvy with two beads. You can click on the link to schedule the call with me or download the frustrated investors guide to passive income because there you will find out exactly how Matt and

I escape the rat race. And in fact, I did use my self-directed IRA for some of it. So to my turnkey client and to our epic listeners, it has been an epic experience. And I will catch you on next week's episode of Turnkey. Tuesday where cash flow is keen. Make it a great day. Do you have doubts about your current plan for retirement actually panning out? Imagine revolutionizing your retirement plan so it pays you right now and in retirement. Change one thing, one time, and that revolution can be yours. That's bad news for Wall Street, but great news for you. We're cash flow savvy, and we'd like to offer you free

information that will show you how one simple tweak can cause your retirement plan to pay you right now and in retirement. And it's yours for free. For the secret your financial planner doesn't want you to know, go to cashflowsavvy.com. That's cashflow savvy.com. This podcast is a part of the C-Suite Radio Network. For more top business podcasts, visit c-sweetradio.com.