The IRA Club is a financial institution and self-directed IRA facilitator that allows you to invest in a variety of alternative investments such as real estate, private placements and commodities, that aren’t available in regular IRAs. But expect to pay a one-time account setup fee, an annual membership fee and an annual fee for each asset you own in your account.
$500
Minimum deposit
| Annual Fee | $175 |
|---|---|
| Available asset types | Real estate |
| Account types | Retirement, Other |
| Average return | 10% to 16% |
| Minimum deposit | $500 |
The IRA Club can be a strong option for investors looking to build a retirement portfolio of alternative investments. While reviews are somewhat limited compared to other similar companies, the available reviews are overwhelmingly positive.
One of the most frequent reviewer comments is that the IRA Club provides stellar customer service. This is important not only because you’re entrusting them with your money, but because nontraditional investing is difficult. Knowing you have a professional and helpful support team available to you can make or break your experience.
The IRA Club also diverges a bit from the competition in regards to fees. Its account setup fee comes in much lower than its competitors, and the recurring annual membership fee is generally more affordable.
But the IRA Club charges an annual asset fee of between $125 and $165 that many other companies don’t charge. When you’re also paying an annual membership fee, this can add up quickly if you have several assets in your portfolio. So depending on how many assets you plan to purchase, you might be able to find a lower-cost option elsewhere.
If you’re looking for a highly rated self-directed IRA provider with competitive fees, the IRA Club is a worthy contender. But the best way to determine if the IRA Club is right for you is to shop around and compare providers.
Choose from the following five types of plans:
Because the main purpose of investing in a self-directed IRA is the freedom and control to invest in a variety of assets not available in regular IRAs, there’s added responsibility. As with any other investment, understand what you’re investing in.
But with nontraditional investments, things get a little more complicated. In addition, be aware of what transactions the IRS prohibits.
Because of these added complications, the IRA Club is best suited for:
Most IRA Club accounts come with a one-time account setup fee of $20. This is lower than the one-time setup fee charge by similar providers. For instance, Rocket Dollar charges a setup fee of either $360 or $600 depending on the plan you choose, whereas IRA Financial Group charges a one-time setup fee of between $300 and $2,500.
Then, depending on the account type, IRA Club also charges annual membership fees and annual asset fees. The annual membership fee ranges from $55 to $325 depending on the account type. To compare, Rocket Dollar charges between $180 and $360 annually and IRA Financial Group charges between $199 and $1,200 annually.
The IRA Club also charges an asset fee these other institutions don’t charge for its IRAs. It charges these fees when the asset is purchased and again annually on the purchase anniversary, ranging between $125 and $165. So while you might save on setup fees and the cost of an annual membership compared to other providers, you could end up paying more with the IRA Club if you have several assets in your account.
The following are the IRA Club’s most common fees:
| Account type | Account setup fee | Annual membership | Annual fee (per asset) | Low-balance penalty |
|---|---|---|---|---|
| Medical HSA | $20 | $55 per account | N/A | $100 |
| Self-Directed HSA | $20 | $175 per account | N/A | $100 |
| Traditional IRA | $20 | $175 per IRA |
| $100 |
| Roth IRA | $20 | $175 per IRA |
| $100 |
| SEP IRA | $20 | $175 per IRA |
| $100 |
| Simple IRA | $20 | $175 per IRA |
| $100 |
| Solo 401(k) | $60 | $325 | N/A | $100 |
You can fill out an application online or call the IRA Club directly at 312-795-0988. To start the application process online:
1. Go to the IRA Club’s website, select Open Account from the navigation menu and choose the type of account you want to open.
2. Complete the application by entering personal information such as your name, Social Security number, birth date and your preferred funding source. Depending on the account type, you may need to provide credit card information. IRA accounts charge the establishment fee to a credit card. IRA Club requires all account owners to maintain a valid credit card on file.
3. Submit a photo ID.
To be eligible to open account with the IRA Club, you’ll need:
You’ll be asked to provide the following information during sign up:
Similar to other providers, the IRA Club offers a resource center with guides, educational videos and a free ebook to help investors make the most of their account. Pay an additional $195 for the IRA Club’s “Investor’s Kit” for access to additional educational videos, live monthly webinars and a personal IRA Club specialist to help walk you through the process.
The IRA Club is a legit company with roots back to 1995, when it was founded as an investment club. The IRA Club became a company in 2006 and has been offering self-directed retirement solutions ever since.
As of February 2022, the IRA Club has 4.9 out of 5 stars based on 127 Google reviews. The company doesn’t have any other reviews on any of the major review sites.
But the IRA Club does have a profile with the Better Business Bureau (BBB) and has been accredited since 2009 with an A+ rating. Satisfied customers largely highlight the company’s customer service, professionalism and responsiveness.
| Better Business Bureau | Rating: A+ |
| Better Business Bureau | Accredited? Yes |
| BBB customer rating | No rating |
| TrustScore | N/A |
| Google Play app reviews | N/A |
| Apple App Store app reviews | N/A |
| Data last updated | February 2022 |
Connect with the IRA Club in two ways:
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The IRA Club is not currently available on Finder
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