What are some of the best companies that can help me setup a self-directed IRA?
After buy-and-holding for ~10 years, I finally cashed-out 50% of my bitcoin to USD. I got about a million dollars and paid a couple hundred thousand in taxes. I plan to re-invest maybe $250,000 into bitcoin in the next crypto winter, but I want to be smarter about taxes. I want to setup an IRA (and, because I want the flexibility to buy whatever coins I want and do self-custody, it needs to be a self-directed IRA).
I spoke with a tax advisor that recommended Broad Financial (broadfinancial[.]com) to setup a self-directed IRA. It looks like they’ll charge me about $1,000 per year. I expected to pay a few thousand up-front for some company to help me setup a self-directed IRA (lawyers who draft the documents for me to sign and hold my hand to setup the LLC), but I can’t understand why I’d have to pay a yearly fee thereafter!?!
The whole reason I want a self-directed IRA is so that I have complete control. I’ll control the LLC 100%. I’ll have checkbook control. This third party that helps me setup the LLC should do nothing for me after initial setup, so why would they charge a yearly fee if they do 0 hours of yearly work?
Before I pull the trigger, I want to do my due diligence in researching Broad Financial and their competitors. But when I google for it, I get a deluge of results about crypto IRAs that are not self-directed.
Can anyone please list for me the top-10 companies that assist people like me in setting-up a self-directed IRA? I’m mostly planning to buy cryptocurrencies, but the company doesn’t need to have any experience in crypto; that’s all going to be directed by me.
What are the top-10 companies that assist in the creation of a self-directed IRA?