Lending Club Self-Directed IRA

September 29th, 2010  |  Published in IRA  |  6 Comments

Lending Club offers a self-directed no-fee IRA. This will allow you to invest your IRA money in any investment that is approved by the U.S. government to be held in an IRA. They would probably prefer you to invest in Lending Club notes, which have average 9.6% returns, but you have the option of investing in whatever you prefer.

To qualify for a no-fee IRA you must have an initial minimum balance of $5,000 or more in Lending Club Notes and maintain this invested balance for the first 12 months. To continue to qualify for the no-fee IRA after the first year, you must maintain an invested balance of $10,000 or more in Lending Club Notes. All account balances are determined as of the last business day immediately prior to the anniversary date of the opening of your account. An annual fee of $100 applies to accounts that don’t meet these requirements.

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Responses

  1. Finally, Bankers Are Getting Some Competition « Econotwist's Blog says:

    October 2nd, 2010 at 10:00 am (#)

    […] Lending Club Self-Directed IRA (myretirementblog.com) […]

  2. lerima says:

    December 19th, 2010 at 11:14 pm (#)

    “To continue to qualify for the no-fee IRA after the first year, you must maintain an invested balance of $10,000 or more in Lending Club Notes. All account balances are determined as of the last business day immediately prior to the anniversary date of the opening of your account. An annual fee of $100 applies to accounts that don’t meet these requirements.”
    You can read more about it?

  3. The Benefits of the Self-Directed IRA « Cash Flow Properties Phoenix Blog's says:

    January 22nd, 2011 at 1:25 pm (#)

    […] Lending Club Self-Directed IRA (myretirementblog.com) […]

  4. Adam says:

    April 20th, 2011 at 4:10 pm (#)

    I really enjoyed the information on your site.

  5. Adam says:

    May 23rd, 2011 at 6:42 am (#)

    Great article, the information is dead on.

  6. self directed ira says:

    October 26th, 2012 at 5:44 am (#)

    it is the best option for post retirement plans