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What is a Self-Directed Retirement plan really? That critical question was the subject of a recent post at the American IRA blog.
ASHEVILLE, NORTH CAROLINA, US, September 7, 2023/EINPresswire.com/ -- The concept of a retirement plan isn’t foreign to most investors. As a recent post at American IRA put it, “for many, a retirement plan is something to put in the back of their minds—something for later in life. They trust their employer-sponsored 401(k), for example, and contribute to it. But for others, a more direct approach is necessary.” American IRA then defined that alternative, direct approach: using a Self-Directed Retirement plan to take hold of an investor’s own financial reins.The rest of the post then spent its time explaining what this might mean to investors who haven’t heard of self-direction before. That includes a section defining the Self-Directed IRA as “any type of IRA in which you hold alternative asset classes by working through a Self-Directed IRA administration firm or similar entity as the custodian on the account.” In other words, working through a custodian this way makes it possible for investors to choose from a wide range of legal, available retirement asset classes, including precious metals, tax liens, real estate, private notes, and more.
In the next section, American IRA defined the rules of a Self-Directed IRA. With more control, after all, comes more responsibility. If an investor is going to exercise more control over a retirement account, it requires knowing an investor’s limits. This isn’t a concern with most straightforward retirement plans, as the brokerage firms investors deal with handle all of the reporting and rule requirements themselves—they then limit their offerings to only acceptable options. With a Self-Directed IRA, an investor has more options—and therefore has more responsibility in knowing what not to do with a retirement account.
The post wrapped up by asking “Is it time for a Self-Directed Retirement Plan?” At its website, American IRA makes plenty of information available to people hearing about Self-Directed IRAs for the first time.
To find out more about the post, visit American IRA’s blog at www.AmericanIRA.com, or call 866-7500-IRA.
Rebekah Schram
American IRA, LLC
+1 828.257.4949
email us here
