Based on our extensive research, we have determined that Midland Trust is a reliable investment choice. Still, in our detailed review, we will also consider other companies with better reviews and more affordable fees.
To see a list of the best companies in 2023 click the link below:
<< Click Here To Discover The Best Gold IRA Companies of 2023 >>
If you’re in a rush, here are our top 3 picks with some information about them:
#1 BEST OVERALL: Goldco
#2 BEST FOR HIGH NET WORTH INDIVIDUALS: Augusta Precious Metals
August Precious Metals Detailed Review
#3 BEST FOR INVESTMENTS UNDER $5000: Birch Gold Group
Birch Gold Group Detailed Review
A self-directed IRA can be a smart and efficient way to diversify one’s investment portfolio and achieve long-term success. With self-direction, investors have the potential for greater returns than traditional investments such as stocks, bonds, and mutual funds.
Finding the best firm to manage and grow self-directed alternative investments is of utmost importance. Fortunately, Midland Trust provides self-directed IRA holders with access to a diverse range of alternative assets.
As an employee-owned company, Midland Trust focuses exclusively on self-directed alternative assets for both beginning and experienced investors looking for increased control over their retirement portfolios.
Plus, their focus on customer service makes them a reliable partner for all types of self-directed IRAs account. To assist you in making the right decision, we aim to provide informative and helpful information about Midland.
About Midland Trust
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Midland IRA is a highly reputable and experienced IRA administrator and custodian that specializes in alternative asset investments. Their main area of expertise is helping their clients invest in precious metals via self-directed retirement accounts.
Not only do they offer the service of being qualified trustees (custodians) for those precious metals IRAs, but they also provide recordkeeping services, as well as a continuous supply of educational material for both IRA professionals and investors alike.
Founded in Chicago, the company now has offices in Fort Myers, Chicago, and Sioux Falls to better serve its customers across the nation. People who have invested with Midland through their IRAs have expressed great satisfaction with their dedicated team of professionals and their trusted services that allow clients to make wiser investments for their future.
Midland Trust Management
Midland IRA is an employee-owned company that recently underwent a reshuffling of its top management in January of 2022. Co-founder Brandon Hall has taken on the role of President and has been employed with the company since 2004.
Dave Owens continues to remain CEO, a position he’s held since the founding of the company in 2002. He also serves as a board member for Sinabel Captiva Community Bank. For 1031 Tax-Free Strategies, LLC.
Owen’s served as Principal from 1997 until last month. Joe Stolz, formerly business systems manager, became Chief Technology Officer in 2020 and Executive Vice President in 2021. Experienced and knowledgeable staff help make Midland IRA stand apart as one of the most successful employee-owned companies today.
Midland Trust Products and Services
The Midland Trust Company offers a range of alternative products intended for retirement plans, each with its distinct features carefully crafted to suit individual needs. The staff at Midland are experienced and well-equipped to provide dependable counsel, allowing clients to make an informed decision when it comes to their retirement plan choice.
What’s more interesting is that alternative assets such as precious metals are accepted, offering yet another avenue of diversifying one’s portfolio. Nonetheless, the company does not sell or trade in Bullion or other precious metal products; it merely functions as the qualified trustee/custodian for the account.
Midland Trust provides the perfect opportunity for savvy investors looking to diversify their investment portfolio with alternative assets within a self-directed IRA.
They offer IRA accounts including Traditional, Roth IRAs, SIMPLE IRAs, SEP, Precious Metals IRAs, Individual 401 (k), and Education IRA/ESA.
The alternative investments accepted by Midland precious metals IRA are extensive and include Hedge Funds, Real Estate, Forex, Equities, Futures, and Precious Metal IRAs.
As a trusted custodian and trustee of these accounts, you don’t have access to any bullion or other precious metal assets directly from them.
By utilizing an alternative asset SDIRA, with Midland Trust you will gain peace of mind knowing you have diversified your portfolio in tax-efficient alternative investments that can further strengthen it for the long term.
Midland Individual Retirement Account Types
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With Midland, you get the freedom and flexibility to choose the right type of investment for you. There are many options to choose from, such as real estate, private placements, notes, hedge funds, and futures.
All these various investments give customers the ability to meet their own needs by analyzing which category is best suited for them.
Additionally, customers can learn about the benefits, eligibility, and contribution limits for each specific account type before making an informed decision.
Midland puts comparison shopping within reach when it comes to individual retirement plans, allowing customers to make sure they choose the plan that is best tailored towards them.
Midland Trust Traditional IRAs
Midland Trust has a solution to help ensure you have the resources you need for retirement: a Traditional IRA. A Traditional IRA is an individual retirement account that allows anyone with earned income to save money for later on in life, without paying taxes immediately.
Account owners can contribute pre-tax dollars towards retirement, and after reaching the age of 59 ½, they can begin withdrawing their savings and pay taxes on these funds.
Contributions by individuals under the age of 72 who have taxable earnings may be as much as $6,000 per year, and those over 50 can take advantage of a catch-up allowance of an additional $1,000 annually. These contributions may be tax-deductible, with the potential to increase in value by making investments, such as stocks or mutual funds.
Midland Trust wants customers to rest assured that each investment made will incur tax-deferred earnings and hopefully bring many successful returns, thus allowing them to enjoy their golden years without having to worry about running out of funds prematurely.
Midland Trust ROTH IRAs
Midland Trust offers Roth IRAs to those eligible individuals who can make post-tax contributions of up to $6,000 yearly. Of two eligibility requirements, you must have earned income and your modified adjusted gross income (AGI) must not exceed the limits set for Roth IRAs. Unlike a Traditional IRA, Midland Trust pays taxes upfront on contributions.
Therefore, when you take a distribution from Midland Trust’s Roth IRA service, there is no need to pay taxes or penalties when you reach 59 1/2.
Furthermore, Midland Trust allows for all earnings accrued in the account after five years, starting from the date of setup, to grow tax-free.
Midland Trust has created an innovative savings and distribution plan available only through their esteemed service. These services cater specifically to eligible individuals’ concerns of saving money, while avoiding high tax rates along with taking distributions without any penalty at a later age.
Midland Trust SEP IRA Accounts
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Midland Trust has the perfect solution for small business owners looking for an easy and affordable way to offer retirement benefits to themselves and their employees.
Simplified Employee Pension (SEP) plans, or SEP IRAs, provide tax-deferred retirement savings without the hassle and expense of setting up a traditional pension plan.
Plus, employers can make discretionary, tax-deductible contributions of up to 25% of each employee’s compensation or a maximum of $61000 in 2022.
Across Midland Trust’s network, anyone 21 years or older with at least $550 in taxable compensation is eligible for a SEP IRA. Other eligible individuals include any employees who have worked for three out of five years for an employer.
Midland Trust believes that offering quality retirement plans should be within everyone’s reach. Contact Midland Trust today to set up your company’s SEP IRA and give yourself and your employees the opportunity to save for their future comfortably.
Midland Education Savings Account (ESA)
Education Savings Accounts offer a range of unparalleled benefits when it comes to funding educational expenses.
With an ESA, families are not limited to making yearly contributions; they have the ability to save on a tax-free basis as long as the earnings remain under their annual adjusted gross income.
The funds can then be used for duly qualified educational expenses such as tuition, books, uniforms, and more with exceptions for those with special needs.
Furthermore, individuals can invest in any permissible alternative asset so that their retirement wealth is also built up alongside their child’s education costs.
Finally, when needed, one can rollover or transfer funds from an existing ESA into a new self-directed plan.
With so many incredible benefits wrapped up in just one account type, ESAs provide vast opportunities for convenient education funding.
Health Savings Account (HSA)
Health Savings Accounts (HSAs) offer consumers multiple benefits. Individuals and families can utilize tax-advantaged accounts to save for qualified medical expenses with tax-free earnings and withdrawal eligibility.
Furthermore, if the health plan is changed, no funds are lost, which is an important security feature. There is also no annual distribution of funds required once they have been saved; they can continue to grow until they are needed or until retirement.
Self-directed HSAs are becoming even more flexible by enabling account owners to purchase alternative investments, including real estate, precious metals, oil and gas options, and more.
This extended choice gives individuals greater potential to increase capital in the HSA at a higher rate than traditionally offered in the financial markets.
All these benefits offered by using an HSA provide investors with an excellent opportunity for building up retirement wealth.
The difference between Education Savings Accounts (ESAs) and Health Savings Accounts (HSAs) is a significant one in the payment required each year.
For ESAs, an annual fee schedule of $2,000 per student beneficiary is necessary to cover expenses and provide outstanding services.
HSAs require a slightly higher fee for individuals at $3,650 and a family account of no less than $7,300 annually along with the option to make a $1,000 catch-up payment, if desired.
Therefore, it is in your best interest to research and learns as much as possible about both options before making a financial decision that could seriously impact your future.
Real Estate IRA Central
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Buying real estate is one of the most popular assets in a self-directed IRA, and Midland can help you navigate this process.
Many different types of real estate can be purchased, such as single-family homes, duplexes/triplexes, land, and fractional ownership.
It is important to remember that a real estate IRA does not refer to a separate or unique account type; it simply relates to any Assets owned within an individual retirement plan which are self-directed into real estate investments.
These are advantageous for the diversification and control they provide. However, these Assets must be solely for investment purposes, as personal use is strictly prohibited in accordance with regulations set by the Internal Revenue Service (IRS).
The Individual 401k plan is an excellent retirement account for businesses and independent entities provided no employees are involved. When it comes to self-employed businesspeople, an individual 401k plan is an attainable choice.
In the U.S., a spouse can assist with the workings of the 401k and qualify for its benefits, yet they must also be an affluent recipient within the business.
With regard to the 401k’s format, shareholders have the choice between a traditional or Roth IRA style savings plan. How much tax one pays depends on which format one proceeds to employ at any given time.
Nevertheless, having an individual 401k plan can provide peace of mind and financial security during retirement.
Private Investments or Alternative Investments
Investing in alternatives is quickly becoming an important component of most retirement portfolios. Midland Trust helps its investors take advantage of these private fund custody services with their simplified approach and robust experience.
Generally, these private investments are only open to accredited and institutional investors. Accredited individuals have already been vetted as financially strong, and they are able to invest large amounts over a long timeframe without risking undue hardship if the investment fails.
There are a variety of ways investments can be used, such as in starting new businesses, developing technology, gaining capital for improving existing entities, or buying businesses outright.
For those wanting to tap into their IRA funds for private equity investments, Midland Trust has opened up alternative assets accepted that could help them get one step closer to their financial future.
Closely-Held LLC plans provide private investment opportunities to a small group of owners, who typically invest in private notes and real estate.
This kind of plan requires individuals to understand related guidelines and bring responsibility in managing shared assets.
As such, they must take the time to get up-to-date with relevant rules and regulations, as well as educate themselves sufficiently before making an investment.
Cryptocurrency in IRA Accounts
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Cryptocurrency is revolutionizing the way people do business. It’s a digital form of tokens or “coins” that can be exchanged for goods and services all over the world without relying on a bank or other centralized financial institution. Many companies issue their own digital currency, which can only be traded for their goods and services.
The technology behind cryptocurrency is called Blockchain, an innovative platform using highly secure technology to manage and record crypto transactions.
As of 2021, there were more than 6,700 different kinds of cryptocurrency in use around the globe. One of the advantages of investing in cryptocurrency is that you can do so in a self-directed IRA to reap tax-free profits, as the IRS categorizes cryptocurrency as property like stocks and bonds.
However, holders need a self-directed IRA custodian to manage their funds since dealing with cryptocurrencies requires some technical know-how.
How to Invest In Cryptocurrency in a Self-Directed IRA
Investing with your IRA can provide a great avenue for maximizing your return on investment. If you have an IRA or other retirement fund, there are two different methods of investing in crypto:
- You can invest directly using your self-directed ira account if the platform accepts it.
- You can set up a Checkbook IRA. This is essentially a single-member LLC established in the name of your IRA, allowing you to direct investments into any crypto platform. A big advantage of this structure is that you are able to transfer funds to and from the trading account quickly and easily. With the Checkbook IRA, you’re able to trade cryptocurrency 24/7. Please note that only newly formed entities owned solely by your IRA are eligible for this method.
Pros and Cons of Midland Trust
- Educational Material
- Flexible Fees
- Professional and Novice Investor Focus
- Low Initial Investment
- Industry Leading Investment Kit
- Limited Investment Choices
- Hidden Fees
- Plans can be costly to maintain, such as SEP IRA
Midland Trust Fees
Midland Bank’s IRA accounts are ideal if you’re looking for different retirement savings options. A Traditional IRA has an annual contribution of $6,000 along with a convenient catch-up contribution of $1,000 for persons over 50.
This allows for tax-free transfers of funds at the end of the year with no additional tax contribution. On the other hand, Roth IRAs need to be paid upfront with taxes; anyone younger than 50 can make a maximum of $6,000 annually, and those over 50 can contribute an extra $1000 each year.
The SEP IRA requires employers to make a 65% tax-deductible contribution from an employee’s salary, up to a maximum of $61,000 per annum.
Finally, if you’re looking for something suitable for small businesses, look no further than the Simple IRA – it has a maximal employee salary deferral amount of $14,000 and employers matching input is 3%.
With such diverse options available and competitive prices and fee schedules on offer at Midland Bank, now is definitely the time to get started on investing in your future.
Midland Trust Reviews
Midland Trust is reputed to be a top gold IRA company and provides numerous incentives for people looking to diversify their financial portfolio.
With an extensive experience of over 25 years, they manage more than 20,000 accounts, with 17,000 satisfied customers, and hold an impressive 4.2-rated customer satisfaction rating, along with an A+ BBB Accreditation Business. Reading through the customer reviews proves that Midland’s service is reliable and trustworthy when seeking a secure investment plan.
“Midland Trust administers my IRA. I bought some real estate in my IRA with Midland. Their service is very professional and timely. I felt their fees were reasonable.
Now that I own the property, it is very easy to pay bills and submit my rent deposits. I plan on buying another property in the near future with my Midland IRA.”
5 Star Rating on BBB
“I was very impressed with their team who helped my family navigate some tough personal situations. Overall recommend to anyone in the area needing help with trust.”
5 Star Rating on Google