Sunday I drove 250 miles to Yellow Brick Road In Sealy, Texas.
What doest a Hollywood music composer, a retired BP executive, and a self-directed retirment expert have in common? But, first let’s discuss how the composer got to Sealy, Texas with a population of 6,200.
The Yellow Brick Road Winery (YBR) announced the opening of a piano winery in Sealy, TX. Partners Gerry Math and Denyce Hobgood joined together to create a one- of- a- kind wine venue described as an intimate concert hall, a piano bar and wine tasting room- all in one.
Math’s musical accomplishments include composing for 14 motion pictures, 4 of those 12 received Academy Awards (Titanic, Forrest Gump, Legends of the Fall and Last of the Mohicans). Math played Phantom of the Opera on Broadway for four years, toured in Russian with the Bolshoi Theatre, and played at the Royal Albert Hall in London for the Queen’s birthday.
Gerry Math, said: “The inspiration for creating the Yellow Brick Winery was partly due to my desire to share the beauty of music and how music is created for Hollywood movies. I hope it will be a place people will leave inspired to pursue creativity in life as well as establish Sealy, TX as a destination for performing arts.”
Yellow Brick Road Winery is located at 3587 Ward Bend Road Sealy, TX 77474
So, now you now how Math, the composer, and Hobgood, the retired BP exeutive got togehter to start a winery. But, that still does not answer our first question.
Before we can answer that question, a self-directed RA or 401K with check-writing privileges was the subject of our meeting. Many firms offer self-directed retirement (that means you make the investment decisions based on your experience, rather than a limited menu offered by many brokerage firms.)
I have been speaking at civic groups, chambers, and 68 Rotary Clubs concerning the power of self-directed IRAs and 401Ks.
However, our speaker Sunday, Rick Pendykoski, has added a new dimension to this retirement strategy. Pendykoski sets up these plans so that the owner has check writing privileges. Especially those owners who are writing many checks benefit greatly. It’s not just the cost of $25 to $50 per check written by the administrator, but sometimes it can take 10 days or more to get the check sent.
This is a detailed subject that requires future discussion.
You may have guessed by now that Hollywood music composer, a retired BP executive, and a self-directed retirement expert all have self-directed IRA or 401Ks with check-writing privileges.
But, you probably did not guess that all three are investors with their retirement money in self-storage properties.
Small world. We are onto a new wave of investing for the individual investor/owner.