As you may already know, when people feel stressed, they turn to unhealthy habits such as poor eating, smoking, drinking, and often lose sleep. Your health today will directly impact what your future quality of life will be when you retire. And, the financial decisions you make now are important to enjoying financial freedom in your retirement years.
Simply put ... a self-directed Individual Retirement Account is an IRA which allows alternative investments for retirement savings. For regular IRAs, these options usually include stocks, bonds, and mutual funds. With a truly self-directed IRA, the term "self-directed" refers to the unlimited options of alternative investments available to you.
If you are not comfortable with the ups and downs of the stock market and want more control in directing your IRA dollars ... then let's explore the answers behind the popular question, "What is a Self-Directed IRA?"
Here's what to expect in this article:
- The advantages of having a self-directed IRA
- The investment options available in a self-directed IRA
- The prohibited transactions to avoid in your self-directed IRA
- The differences between a basic IRA custodian and a self-directed IRA custodian
- Answers to frequently asked questions about self-directed IRAs
Real estate investing is by far the most popular method savvy investors use to earn income, whether personally or in their IRAs. Those who have plenty of capital in their self-directed plans can easily invest in residential, commercial, and other property such as land or vacation rentals. But, if you’re account isn’t flush with adequate funding for large acquisitions, have no fear. There is an option you can take advantage of with limited funds: tax lien investments.
Cryptocurrency is digital (or virtual) currency that is not hampered by centralized government regulations, and its value is not dependent on or manipulated by things such as inflation. Bitcoin is the most popular and the first widely accepted cryptocurrency developed (in 2009), and to date represents the largest blockchain of its kind. Investing in Bitcoin is a hot topic right now due to its steady climb in value due to its significant rise in value from its inception.
Sometimes fate steps in, the stars align, and the universe smiles on you as you bask in the glow of your winning lottery ticket. For most of us, this is not the case. As with everything in life, your chance of having a successful outcome is directly dependent on setting achievable goals, having a solid, down-to-earth plan, and the resolve to stick to the resolutions that you’ve made. This can seem overwhelming, especially when planning for retirement. But, the first step is to make a commitment to start saving and investing in a retirement plan. Your golden years will arrive before you know it, and our top 5 wealth-building resolutions can help you get prepared.
Investing in Bitcoin is at the forefront of news in the financial world because of its recent record-breaking rise. You may be considering investing yourself if you haven't already. If you're on the fence, these top 10 Bitcoin facts may help you determine if this asset belongs in your retirement portfolio.
If you have a sense of adventure and want to invest and retire on your terms, check yourself into the world of self-directed IRAs. When you put yourself in the pilot’s seat, the sky is your limit when it comes to investing choices. The types of alternative assets permissible in these plans are nearly endless. And, the right acquisitions can help you build wealth and retire well.
Not all self-directed retirement plan custodians are alike. Some may have lengthy processes you must wait on. Others may not provide the level of attention and service you deserve. Many don’t even allow every alternative investment that’s permissible in these accounts. So, if you’ve encountered any of these issues in your search for financial freedom in retirement, then you need to check out The Advanta IRA®.
SIMPLE and SEP IRAs are retirement plans designed for small business owners as well as self-employed individuals. These popular plans allow today’s business owners to offer easy, tax friendly savings options for their employees. Self-directing either plan allows account owners to make their own investment choices to build retirement wealth. Self-directed retirement plans give you great flexibility and complete control over your retirement plan, which you’ll learn more about towards the end of this article.
No one wants to retire only to find our financial fitness is not in the shape it needs to be for us to live the lifestyles we want. Our goal is to live our golden years happily, with minimal stress. Because, we all know that stress can affect our health—especially financial stress. Advanta IRA has a simple plan to help you measure and improve the health and wealth of your portfolio. Interested? Read on…