Wednesday, October 18, 2006

IRA Can be Individual Retirement Abode

Anyone seeking a second home might consider buying it as an IRA -- Individual Retirement Abode. One company, Sum Total Financial Management of Chicago, says you can buy a place “outside” of an IRA while using funds from an IRA to pay for it. "This program complies with all legislative and IRA/Tax laws," the company declares. (When property is purchased “inside” the IRA it cannot be enjoyed or occupied by the investor.) Some details at at the firm's Web site.

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