CheckbookIRA and Kingdom Trust IRA was not worth it for me

[Douglas Allen Mundy]

In June of 2015 I went thru the whole process of setting up an LLC with an IRA with Checkbook IRA, which at the time seemed legit. Those jack rabbits charged me $1100 to get it all set up, then I had to pay $125 to renew the LLC each year and $125 to Kingdom Trust to keep the IRA going. Every time I sent a deposit to my IRA then also charged me a $25 processing fee. It turned out that I never ended up using either the LLC or that IRA, and later found out I could start an LLC for as little as $75. I closed it all out this past year with no benefit from doing it.