SBTV asks David Drummond of Georgetown Trust about gold self-directed Individual Retirement Accounts (IRAs) and the benefits of going international/offshore to diversify wealth in times of economic uncertainty. Discussed in this interview: 00:53 What is a Self-Directed IRA? 02:08 Difference between an IRA Custodian and an IRA Administrator 03:34 Difference between a 401K, Roth IRA and Self-Directed IRA? 05:35 What does it mean to go international/offshore? 08:04 Favorable jurisdictions and second passports 13:10 Benefits of having international bank accounts 16:38 Governments poking around in foreign bank accounts 22:43 Holding gold offshore to diversify wealth 24:46 Self-directed gold and silver IRA 27:25 Any restrictions to the type of gold and silver that can be bought with IRA 29:26 Asset protection for business owners 33:33 Offshore LLC vs International Business Company(IBC) 38:39 Foreign earning income exclusion(FEIE) Find out more about Silver Bullion: Silver Bulli
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)