You may have heard of a self-managed IRA or a self-directed IRA; however, have you actually investigated the possibilities of how it can increase your retirement fund? Converting your existing traditional IRA into a self directed one allows you to invest in Real Estate. This is something you cannot do with a traditional IRA.
The key to making this transition work for you is selecting the right custodian. A good custodian will take care of all the necessary paper work while taking care of your specific wishes involving your investments. It is possible to make this as turnkey as possible. That is the beauty of a self-directed IRA.
Many people do not bother with a self-managed IRA because they feel it is too much work or they just do not know enough about it. By choosing the proper custodian, you will eliminate most of these fears. They are moirÃ© knowledgeable of the rules and regulations governing self directed IRA‘s.
With a traditional IRA, the broker or the bank makes all the decisions. You are at their mercy as far as your investments are concerned. With a self-directed IRA, you get to make the decisions and your custodian carry’s out those wishes. You are in control. A little known program allows a self-managed IRA to be used to purchase real estate as long as it is not for yourself or family members to live in, you must be making a profit off it.
It is everyone’s desire to retire with a good retirement income. Investing in real estate with your self directed IRA allows you to build compounded wealth for you and your family. There is risk in any investment, however real estate is much less than other types of investments. What if you found a company that did all the investing for you. All you did was collect the profits from rental income. What if your real estate investments actually helped turn areas of the country around.
Many people are frustrated at the slow pace their traditional IRA’s and 401k’s are growing. This is usually because it is looked after by a bank or broker. You just have so little control. Don’t you want to take more control of your future instead of relying on someone else? A self directed IRA or self-managed IRA could be the answer to your dreams.
In conclusion, there is so much more to this opportunity that could not possibly be covered in a short article. Look at our website for more information on converting your traditional IRA to a self-directed IRA and investing it in real estate.
I’m going to see an accountant next week, but I want an answer ahead of time so I can keep our meeting short :)
I recently switched jobs and have 3500 in my old companies 401K but since it is under 5k they are making me close the acct. Shoudl I roll it over into my new companies 401K (which I wont be able to do until march) or do I invest in a Roth IRA?
I read an article about Roth IRA being better than a 403B. It said you do not have to pay taxes on a Roth. I also am wondering if I quit my job, can I roll the $45K I have in my 403B into a Roth without a penalty?
I am seriously considering leaving my job.
The Lincoln Financial group manages my 403B.