section 703-IRA
by sherlock1 | August 27, 2013 8:31 am
touted by marc lichtenfeld of the oxford club as a retirement[1] tool to increase retirement income–any thoughts/=?
Endnotes:
- retirement: https://www.stockgumshoe.com/tag/retirement/
Source URL: https://www.stockgumshoe.com/2013/08/microblog-section-703-ira/
Not listed in IRS rules. Think he made it up as a strategy to use your IRA, rather than a little used type of IRA.
Its not IRA its the 703 Bi-laws of SEC dint any one listen to what he said, meaning Mark
Didn’t anyone who is asking this same question listen to his very long message to basically sell something to you. Someone asked why all the mystery, well its a sales tactic. That’s how he draws you in to ultimately purchase something that may or may not work. If you read the fine print it even expresses that what he is saying isn’t to be construed as “Financial Advice”
Item 703 of regulation S-K of shares registered under Sec 12.
It’s a drip plan disclosure requirement.
That’s it.
does the 703-IRA even exist? company payouts etc.?????
WHAT IS SECTION-IRA SECTION 703?
SECTION 703?
Has to do with DRIP (dividend reinvestment plans ) There are companies that will let you direct purchase shares (thus, no commission) and they reinvest all dividends (buying additional shares with dividends ) Actually , great idea to get kids into investing etc . Great to do if you only have a minimal amount to invest . Any brokerage will let you do this with your current shares ( at least TD Ameritrade will ) but it won’t be commission free .
Scottrade will allow you to pool your money and buy DRIP shares in stocks that you own at ZERO fees. You are not limited the way you are at TD-Ameritrade. Meaning at Ameritrade you can only invest your drip fund back (unless they have changed) into the same companies. At Scottrade you can Invest Your Drip funds from one company to another.
Example: If you own JE, EROC and ARR or whatever, you can have the funds from two of them buy more shares of one company. You can play with the drip in a way that works best for you, and there are no fees.
Why do they always make things mysterious. I think they do more harm to their rep with these videos than just being straight forward. 703 IRA, whatever.
Still don’t know if it WORKS. He’s also teasing the first 3 he’ll give. Was hoping/counting on the Gumshoe to give up the 3 and give us his take on Mr L. n his 703 plan
I wish they would just give the straight information without the bait and switch. it is so snake-oil selling and leaves me miss-trusting Oxford. Makes you wonder what you would actually get for your $79. An invoice!!!! not me.
did anyone ever come up with the three DRIP companies Mark was recommending?
RTN, WPC, NWBI
You can buy stock directly from Exxon oil their drip program will even let you start an IRA. you purchase 250.00 dollars to start then deposit as little as 50.00 per deposit , Maybe more now if you don’t have a grand fathered account. The max limit is 250000.00 per year They pay the expenses for the brokerage .