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)
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