by | May 8, 2020 | Uncategorized

Last Updated: January 23, 2023

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CamaPlan IRA Review
CamaPlan IRA Review - by,April 1, 2011
4/ 5stars
on
CamaPlan IRA Review
  • Global Rating
  • Our Global Rating (GR) is Math-Based. (Learn how it works)
    (4/5)
  • Very Good
Review Summary :

Camaplan has been in business since 2004. Find out why we rated one of the top self-directed IRA companies in America. The company prides itself in creating and delivering a robust education marketing strategy, which is great for investors. While the company doesn’t offer cryptocurrency or checkbook investing, there are many other reasons to consider Camaplan.

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Pros:

  • Great education resources
  • Many different account types available
  • Solid customer reviews
  • Choose your fee structure

Cons:

  • No cryptocurrency investing options
  • No LLC or checkbook control options
Quick Facts about CamaPlan IRA
Year Founded:2004
Location:Ambler, Pennsylvania
Annual Fees:$275
Offers 401(k)?:Yes
Offers Roth IRA?:Yes
Crypto Offered?:No
Reviewed By:Jack Choros
Published On:May 8, 2020
Last Modified:May 25, 2020
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CamaPlan promotes itself as “an independent self-directed IRA administrator whose motto is ‘for investors, by investors’. The company’s offices are located in Ambler, Pennsylvania. CamaPlan offers four different types of IRA accounts, individual(k) plans and two different types of spending accounts. They also offer something called Inherited IRAs. We will cover more about different account types as we go throughout this review.

In addition to offering these different account types, some of which other competitors don’t offer, CamaPlan also offers five key types of alternative investment opportunities. Those include gold and other precious metals, real estate investments, mortgage financing, private placements, tax liens and other types of investments. Again, we will cover all of that in this comprehensive review.

By the time investors finish reading this, they’ll know about all the plans and fees that come with working with CamaPlan and they will understand why this little engine I could is very competitive in the market. That’s not just when it comes to other self-directed IRA providers, but also in reference to larger discount brokerages like Fidelity investments, Charles Schwab or Vanguard.

It’s time to learn what CamaPlan is all about.

What is CamaPlan? What is a CamaPlan IRA?

CamaPlan’s goal is to help investors make their own financial decisions and retire sooner just like any other IRA promises. The company of course allows investors to go beyond stocks, bonds and mutual funds. They pride themselves on offering clients the knowledge and diversity provided by a company that was started by investors and for investors.

Investing in a CamaPlan IRA is all about exploring alternative options like any other self-directed IRA. Choosing a CamaPlan IRA means they handle the government reporting for investors, make sure everything is legal and that the investor has access to many different options for their long-term retirement planning.

About The Founders and Management Team of CamaPlan

Carl Fischer, Founder, CamaPlan

Carl Fischer is the founder of CamaPlan. He comes from a family of real estate developers and is the third generation of the Fischer family to be in that industry. He started investing in the 70s while working as a rocket scientist for the Kennedy Space Center. Fischer is a graduate of Cornell University and he has personally managed more than $20 million in real estate transactions. He is a certified IRA professional.

Maggie Polisano, Founder, CamaPlan

Fischer’s colleague and fellow principal owner of CamaPlan is Maggie Polisano. She is a graduate of Villanova University and also a third-generation real estate developer. She assists clients with tax avoidance strategies, real estate planning and broader investing advice.

CamaPlan IRA Account Types

As mentioned in the introduction, there are four main account types available through CamaPlan:

  • Traditional IRA
  • Roth IRA
  • SEP IRA
  • SIMPLE IRA
  • Inherited IRA

Let’s go over each of them.

Traditional IRA

A Traditional IRA hosted by CamaPlan allows investors to benefit from the tax advantages of saving for retirement and gaining income tax write offs throughout their contribution years. This is the most straightforward IRA that CamaPlan offers. Most competitors also offer this.

Roth IRA

The Roth IRA allows workers to contribute post-tax dollars to their retirement plan. The main difference between a Traditional and Roth IRA is that Roth contributions are not tax-deductible. Roth contributions can be withdrawn tax-free after the age of 59 ½. This is advantageous for people who think they will be in a high income tax bracket when they retire.

SEP IRA

SEP stands for Simplified Employee Pension. Again, many IRA providers offer this including CamaPlan. It allows companies to match their employees’ contributions. Investors need to ask an employer about setting this up.

SIMPLE IRA

A SIMPLE IRA allows small and medium-size businesses to offer retirement planning services to employees. Many employers allow their employees to select the financial institution that will administer the plan. Choosing CamaPlan is a great choice!

Inherited IRA

An Inherited IRA is what the name says it is, it’s for people claiming an IRA as an inheritance from a loved one. Investors who are the beneficiary of such an account still need an administrator to manage the funds and the investments within that account. That’s what this account type does.

CamaPlan Investing Options

The above account types are pretty standard among most self-directed IRA providers. Investing options aren’t always the same. CamaPlan takes its own approach to giving investors access to alternative assets that will help them get closer towards the retirement goals.

Here are the investing options that CamaPlan has to offer:

  • Gold and other Precious Metals
  • Real Estate
  • Mortgages
  • Private placements
  • Tax liens
  • Other Investments

Gold and precious metals are typically seen as a safe haven against inflation and the downturn of the broader economic market. Real estate investing is the scene is always solid in the long term because people always need a place to live. That’s also the reason investors choose to put their money into mortgages and private lending deals as well.

A tax lien is what the government places on an individual who is behind on their taxes. Governments don’t like to fall behind on collecting revenue. If they are having problems collecting that money, they can sell the lean to a private investor who then earns an interest rate on their investment.

CamaPlan makes it easy to go beyond stocks, bonds, mutual funds and other traditional financial instruments. There are many different account types and investing options available to both individuals and small, medium and large businesses.

CamaPlan Fees

CamaPlan has a section on the company website that details a fee philosophy. There are a few points of consideration in evaluating CamaPlan’s fees.

They promise that cash only accounts don’t pay any maintenance or annual fees. Investors only pay to maintain an account once they have purchased an asset. This allows the investor to focus on doing their due diligence and not worry about how much it costs just to be a customer. This means investors only pay for the services they use. Costs are always prorated.

Here’s a chart summarizing Camaplan’s fees:

Transaction TypeAccount Fee
Account Set Up Fee$50
Annual Plan Document Fee$300
Real Estate Transaction Fees$150
Other Transactions$95
Wire Transfer In/Out$10/30
International Wire Transfer$95
ACH Transfer$5
Custodial Account Check$10
Cashier's Check$40
Partial Transfer Out$75
Early Distribution$150

Choosing a Free Structure

Investors working with CamaPlan get to choose their own fee structure to a point. They can choose either to pay fees based on the number of assets they hold in their account, or pay fees based on the value of their account. The annual fee is $275 per asset for those that choose the asset-based fee structure. Choosing to pay fees based on the value of the account means being at the mercy of a fee schedule.

Fees can be paid with credit cards, debit cards and bank accounts. A 3.5% convenience fee is charged on all credit card transactions. As an added bonus, clients can reduce their fees by referring new customers to CamaPlan.

Customer Service and Support at CamaPlan

CamaPlan’s offices are open from 9 to 5 PM five days a week. The company does offer a toll-free number and like many self-directed IRA companies, they won’t charge for basic set up advice. CamaPlan charges fees based on the value of an investors account or the number of assets in their account as noted in the sections above.

CamaPlan Customer Reviews

CamaPlan nets a 3.9 out of five stars on Google reviews. While that’s not an ideal rating, it’s important to keep in mind that the company’s Google profile only lists seven reviews. That’s not very many. What’s more important and more impressive is that CamaPlan has an A+ rating through the Better Business Bureau. That suggests that the company knows how to deal with customer complaints and that they take them seriously. Retirement investors get taken care of at CamaPlan. Peace of mind is priceless when it comes to IRA investing. CamaPlan offers that.

Frequently Asked Questions about CamaPlan

CamaPlan’s head office is located in Ambler, Pennsylvania.

Both withdrawing and depositing money out of and into a CamaPlan plan can be done with a bank account, debit card or credit card. Keep in mind CamaPlan charges a 3.5% fee on credit card transactions.

Major banks and local credit unions will cash checks from CamaPlan. It’s also possible to go to a payday loan company and get cash in exchange for a check in advance, but those companies usually charge between 1% and 5% of the value of a check in order to give investor cash immediately.

CamaPlan does not offer pre-built portfolios or automated investing services.

No, it is not possible to complete this kind of rollover.

Should You Choose CamaPlan for your Self-Directed IRA?

Given CamaPlan has an A+ rating with the Better Business Bureau and two principal owners who have decades of experience in real estate investing, CamaPlan is certainly a good option when it comes to opening a self-directed IRA account. CamaPlan is not as big as some other self-directed IRA providers and they won’t compete directly with discount brokerages like Vanguard or Charles Schwab. They will however offer investors a personalized sense of service and an ability to access alternative assets at costs and fees that are reasonable.

At the end of the day, there are flat fees that allow investors to be charged based on the number of assets they own rather than the value of their account means more commissions and percentages stay in the pockets of the investor rather than the IRA provider.

Feel free to make a comparison between CamaPlan and other IRA providers and decide what’s best for the investor in you. For your convenience, we’ve put together a list of the Top IRA Reviews so you can easily compare the best self-directed IRA providers.

 

CamaPlan IRA Review
CamaPlan IRA Review - by,April 1, 2011
4/ 5stars
on
CamaPlan IRA Review
  • Global Rating
  • Our Global Rating (GR) is Math-Based. (Learn how it works)
    (4/5)
  • Very Good
Review Summary :

Camaplan has been in business since 2004. Find out why we rated one of the top self-directed IRA companies in America. The company prides itself in creating and delivering a robust education marketing strategy, which is great for investors. While the company doesn’t offer cryptocurrency or checkbook investing, there are many other reasons to consider Camaplan.

Get Info Kit Now
Have you purchased products from CamaPlan IRA Review? Leave a review!

Leave your rating

Field is Required

Field is Required

Field is Required

Field is Required

Leave a rating:

 

Amine Rahal