Saw this ad..

[rpatton3]

Years ago, there was a guy that was a financial planner and retirement guru who found a loophole in retirement plans. I was not a CPA or CFP(tm) then and I think it was a Keogh plan.

A real Cobra was $50,000 then. The guy was Jim Southard. I wonder if anybody has any knowledge of how the IRS viewed the deal.

He used to have big ads in Hemmings in the early 70's.

[Mark IV]

Originally Posted by rpatton3

Years ago, there was a guy that was a financial planner and retirement guru who found a loophole in retirement plans. I was not a CPA or CFP(tm) and I think it was a Keogh plan.

A real Cobra was $50,000 then. The guy was Jim Southard. I wonder if anybody has any knowledge of how the IRS viewed the deal.

He used to have big ads in Hemmings in the early 70's.

I do believe Mr. Southard became a "ward of the state" due to several issues if I recall correctly, but I may be mixing him with Larry Megabow who for sure was incarcerated.

[Nedsel]

Originally Posted by Mark IV

I do believe Mr. Southard became a "ward of the state" due to several issues if I recall correctly, but I may be mixing him with Larry Megabow who for sure was incarcerated.

You are correct - both spent time as guests of the government in the big house.