Larry Jaques wrote:
On Wed, 22 Aug 2012 07:57:43 -0400, "dadiOH"
wrote:

Larry Jaques wrote:
On Tue, 21 Aug 2012 14:00:53 -0500, Tim Daneliuk
wrote:

On 08/21/2012 10:01 AM, Han wrote:
So that's where you can get a 370 fold (37,000%) yield?

It's entirely possible, legal, and ethical.

It's also possible for people to put their shares of their companies
into the IRA, which may be true in this case.

True. But only an amount with a value equal to or less than the
maximum allowable IRA contribution.

Tell that to the guy who wrote the wiki on it.
From http://en.wikipedia.org/wiki/Individ...rement_account

Large balances

While the average and median IRA individual balance in 2008 were
approximately $70,000 and $20,000, higher balances are not rare. 6.3%
of individuals had total balances of $250,000 or more (about 12.5
times the median),[17] and in rare cases, individuals own IRAs with
very substantial balances, in some cases $100 million or above (about
5,000 times the median individual balance).[18] This typically occurs
when founders of companies place shares in their own company in an
IRA, and the share value subsequently rises substantially.[18]

That doesn't change what I said. Those founder's shares value had to be no
more than the maximum allowable IRA contribution when they were placed in
the IRA. There is no limit on how much the items in an IRA can grow *after*
they are in the IRA; in fact, that is the whole idea.

--

dadiOH
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