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New Direction IRA Custodian

12 Jan 2013 4:58 PM | Scott Reed

Here is an IRA custodian that's into local investing (locavesting): New Direction IRA

Here's info about their fees (download full fee schedule):

Option One: Per Asset, $295/year
  • Cost effective for fewer investments with high values
  • Flat rate fee per asset regardless of asset value
Option Two: Valued Based Fees, $195+/year
  • Cost effective for more investments with smaller values
  • Based on total value of assets
  • (Cash not counted)
Simple Fees Breakdown:
  • $50 Application Fee (one-time)
  • $95 Transaction Fee (per purchase/sale/exchange of any asset except real estate)
  • $30 Bank Wires (one-time)
  • $30 Overnight mail (one-time)
  • Annual fees start at $195/year
Simple Fees Breakdown: Lend $50,000 to a third party securing the note with real estate
  • $50 Application Fee (one-time)
  • $95 Transaction Fee (one-time per purchase/sale/exchange of any asset except real estate)
  • $295 Flat Annual Fee for ongoing administration (Using Option #1)
  • Approximate First Year Total Fees: $440
  • Approximate Following Years: $295
  • Total first year expenses: ~1%
  • Total following year expenses: ~.6%
Simple Fees Breakdown: Purchase shares of a private company for $10,000
  • $50 Application Fee (one-time)
  • $95 Transaction Fee (one-time per purchase/sale/exchange of any asset except real estate)
  • $195/year Annual Fee for ongoing administration (Using Option #2)
  • Approximate First Year Total Fees: $340
  • Approximate Following Years: $195
  • Total first year expenses: 3%
  • Total following year expenses: ~2%

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