Today we take a look at the company named CheckBook IRA. What is CheckBook IRA? A scam or a legit company for you to go with? Will it be something for you or do you have better options out there? These are some of the questions this short review will focus on. Ok, here we go!
Company: Checkbook IRA
Owner: Steve and Jordan Sheppherd
Price: Depends on your investment
Who is it for: Investors
Overall rating: (3 / 5) (Not Recommended)
Important to mention before we go into more details of this review:
You have made a smart chooice reading this review. We always strongly recommend to do your research online before you choose a company to invest with. There are so many reviews online of clients being ripped of and scammed. So please investigate thoroughly before you make your decision.
With that being said, let´s continue with the review on CheckBook IRA!
What is Checkbook IRA about?
CheckBook IRA has been available for their clients since 2004 and is based in the USA but offer its service to people in other countries also. EVen if it is a pretty well-known company it is still not as “heavy” as some of its competitors.
However, it continues to grow for each year so it might get up there among the “big players” by time.
How does it work?
The company offers numerous services for investors, mainly experienced investors to be more correct. The primary field of their expertise is to educate potential clients/investors about different investment options, especially IRA´s.
Important to mention: we found that they are taking $1500/year in storage fees while other similar companies only take $100/year so it is a cost that is 15 times more than some of its competitors.
As mentioned above CheckBook IRA offers much education in their “university” and also options for you if you want to invest with them.
Here are their services:
- CheckBook IRAs
- SOLO 401 (k)
As mentioned above they do offer IRA´s yes. However, I strongly recommend you to check out other alternatives for that as they are VERY expensive in the annual storing fees.
Can you get the gold (and other metals) delivered to your home?
There is no information to find about this on their site so we gonna have to assume that it is not possible.
Please, if you are a representative for CheckBook IRA and this (or something else in this review) is wrong please leave a comment below and I will make sure to correct it.
Can you store your investment with the company?
Yes you can, they offer storage for you, however, you need to know that the annual storage cost is very expensive ($1500) per year while other similar companies only take $100 per year.
Can anybody in any country use the service?
The company offers its services to different countries, it is not really mentioned on their site to exactly wich countries. When I asked about this with a representative from the company he told me that certain things had to be in order to a person in another country could use their services.
Is Checkbook IRA a scam?
So, is CheckBook IRA a scam? Well, it has been offering its services for more than 10 years so if they would have been a complete scam they would not have been able to survive for that long.
It also got an A+ rating with the Better Business Bureau and also no complaints on the RipoffReport website.
On the other hand, there are some red flags also, and as always we make sure to highlight those. Here they are:
The red flags:
1: The annual storage fee: As it costs $1500 per year to store your investment with the company it is easy to see why some people might call CheckBook IRA a rip off as many of its competitors only take $100 per year.
2: The lack of ratings from BCA and TrustLink: As both BCA and TrustLink are authority sources when it comes to online ratings and trust we feel that this need to been brought up on the table for anyone who is thinking about investing.
How´s the support?
As always we put a lot of weight on how the support of a company is when we rate it. So, how does CheckBook IRA stack up against its competitors in this area? Actually pretty good as they do actually offer a live chat (on certain times) on their website. This is something that many of its competitors actually don´t offer.
However, there are some reports online that the “sales staff” or representatives from the company are “pushy” and give you a feeling of “getting stressed to buy” when they speak to you.
- Much education material
- Have a live chat
- Been in business for more than 10 years
- EXPENSIVE annual storage fee
- Lack of info on site
- Reports of “salesly” and “pushy” representatives that will e-mail and call you
- No ratings from BCA and TrustLink
Why You Should (Or Should NOT) Join Checkbook IRA?
As I see it, you could absolutely benefit from their educational “university” if you are interested in learning more. It has a wide selection of education and you could surely find something that you might be interested in by digging there.
However, education is something that is offered by most of its competitors also… I don´t see why you should pick them to invest with when there are obviously better alternatives out there.
I don´t see why you should pick them (CheckBook IRA) to invest with when there are obviously better alternatives out there.
Final Words and Verdict on Checkbook IRA
Verdict: Legit (But NOT recommended)
Overall rating: (3 / 5)
Ok, I think I have made my point pretty clear on this one. It is absolutely a legit company, no doubt about that. However, as mentioned above there are some pretty concerning red flags that also take down the overall rating pretty much. So 3 out of 5 stars it is.
As always the choice is up to you, however, you might want to look at other alternatives to go with for your investment endeavors.
I hope you found this short review of CheckBook IRA to be helpful and now you should have a better understanding of what it is and if it is something for you or not. If you have used their service please share your experience with us in the comment section below as it can help others to make the right decision for them. Also, if you have any questions about this review I will be more than happy to answer them below!
I wish you success!
Founder of: Gold Retired