Mark Kohler warns that a $3.5 trillion House spending bill would restrict self-directed IRAs, banning investments in real estate, crypto mining, private notes, and LLCs. He urges viewers to contact their senators to oppose the changes before the bill reaches a vote.
Attention all business owners and investors. This is important. I need you to hear this message. It is critical. This is not a Republican Democrat thing. This is not a wealthy versus the poor thing. Just last week the House passed a $3.5 trillion spending bill that is now being debated in the Senate. Now use those terms loosely for all you poli sci majors out there. There's some unique procedures in the House and Senate as this spending bill proceeds through Congress. But here's the deal. And this is again not a rich versus poor or Republican or Democrat thing. But here's the important point. Inside this bill there are two provisions that limit the ability you have to self direct your IRA and what you know best. Now I'm not talking about limiting the amount of the IRA to 10 million or $20 million or the rich backdoor Roth mega backdoor Roth strategies. I'm not talking about that. I'm talking about all Americans are going to be significantly if not pretty much restricted from investing their IRA and self directed strategies like real estate, crypto mining, pooling our money into notes or crowdfunding or small businesses on Main Street. Can't do that in an LLC any longer and you're going to be forced to go buy everything you want in your IRA and Wall Street. Now I know for many of you that is terrible news. That's scary news. It's going to make you mad and I need you to do something about it. Down in the content below I've got a link to a blog article where I explain it more fully. Another link to my partner's article that's even more in depth and also the details of how you can contact your senator, your representative and just send a nice kind message telling them please save my ira. I'm just a middle income, low income American that wants to self direct my IRA into a little VRBO or a little crypto mine or I want to invest my IRA the way I want and I don't want to be stuck in wall. Frankly, I don't think the legislators know what's buried in this bill. It's a monster at 881 pages, 3.5 trillion. That's okay. I don't want you to rant and rave and be mean and start calling Democrats bad or Republicans bad or wealthy bad, poor bad. Don't worry about that. Just protect your ira. Focus on the ball. Don't make this political in the sense there's a fight against some social agenda in America. It's a fight for your retirement account. Be kind, be specific, be gracious and be tenacious. Just communicate. Get the information to your representative in Congress and ask them to help you to help all of us, to help the economy. Thanks, everyone. I'll see you on the backside.
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