You can purchase California land with cash or 401(k)/IRA funds with NO early withdrawal fees and NO tax penalties, often without writing a check. The process of purchasing a land parcel at ACE Capital Group is not only simple, but safe and secure in every respect.
Here is our step-by-step process (via an existing or new self-directed IRA account):
Utilizing the services of a licensed self-directed IRA custodian, there are two ways to move retirement funds (depending upon the type of originating account) for ACE Capital Group land purchases: "Rollover" or "Transfer." Purchasing a land parcel with a "rollover" of funds requires you to request a rollover check from your current account custodian then deposit it into a self-directed IRA account for your land parcel purchase. Purchasing a land parcel with a "transfer" of funds requires you to complete your funds transfer request form and send it for processing. Your self-directed IRA custodian will move your funds to the ACE Capital Transactions Specialist. Once completed (rollover or transfer), your funds will become securely invested into your ACE Capital Group California Land Product and will begin to grow and mature toward building your Safe and Secure Retirement Wealth!
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A list of popular retirement funds that can be used to purchase land parcels through the ACE Capital Group Land Banking paradigm can be found below:
Traditional IRA - Contributions to a traditional IRA are made with before-tax funds and are often tax- deductible. Transactions within traditional IRA’s have no tax implications, but withdrawals at retirement are almost always taxed as income. [Compatible with ACE Capital land purchases under certain self- directed IRA custodians.]
Roth IRA - Contributions to a Roth IRA are made with after-tax funds or assets. Transactions within the Roth IRA have no tax implications, and withdrawals at retirement are usually tax-free. Compatible with ACE Capital land purchases under certain self-directed Roth IRA custodians.]
SEP IRA - Simplified Employee Pension (SEP) IRA plans allow someone who is self-employed to make retirement plan contributions into their IRA. Tax benefits are similar to a traditional IRA. Compatible with ACE Capital land purchases under certain self-directed SEP IRA custodians.]
SIMPLE IRA - Savings Incentive Match Plan For Employees (SIMPLE) IRA allows both employer and employee contributions into the IRA, similar to a 401(k) plan, but with lower contribution limits and simpler, less costly administration. [Compatible with ACE Capital Group land purchases under certain self-directed SIMPLE IRA custodians.]
401 (k) - 401(k) plans allow you to save for retirement without having to pay income tax on the saved money until it is withdrawn. 401(k) plans are sponsored by the employer, so most companies do not allow fund withdrawals until you make tenure, retire, or leave the company. [Compatible with ACE Capital land purchases under certain self-directed 401(k) custodians.]
403 (b) - 403(b) is similar to a 401(k), but is designed for civil government, university, and nonprofit employees. [Compatible with ACE Capital land purchases under certain self-directed 403(b) custodians.]
HSA - Health Savings Account (HSA) is an alternative to traditional health insurance. It allows you to pay for current health expenses and save for future qualified health expenses... all tax free. [Compatible with ACE Capital land purchases under certain self-directed HSA custodians.]
ESA - The Coverdell Education Savings Account (ESA) was created as an incentive for parents and students to save for educational expenses. Contributions to an ESA are not tax deductible. Funds deposited into the account will grow tax-free until they are withdrawn, and you won’t owe tax if the amount withdrawn is less than the designated educational expenses. [Compatible with ACE Capital land purchases under certain self-directed ESA custodians.]
Defined Benefit Accounts - This is an employer-sponsored pension fund that is similar to a trust. The employer makes contributions to the employee’s fund based upon things like their salary and length of employment. The funds are managed by the employer and there are restrictions on when and how funds can be withdrawn without penalties. [Compatible with ACE Capital land purchases under certain conditions and arrangements with the employer’s fund administrator.]
Trusts - Trusts are legal entities that can hold title to property for the benefit of one or more persons or entities. The administrator of the trust (trustee) controls the funds within the trust and is responsible for managing its assets. [Compatible with ACE Capital land purchases under certain conditions with approval and arrangement of the trustee.]
1031 Exchange - Section 1031 of the Internal Revenue Code provides the opportunity for an investor to sell their property and reinvest the proceeds in a new property in order to defer all capital gain taxes. In order for this to be accomplished, a 1031 Exchange must be properly structured and executed within 45 days following close of escrow and should involve a licensed and experienced facilitator to orchestrate the exchange. (A 1031 Exchange account must be opened before the close of escrow on the property being sold, and a new investment property must be identified in writing within 45 days of close of escrow.) JUMP UP