Here’s how a self-directed IRA can be used to grow your wealth.
Today we’re going to talk a little bit about self-directed IRAs. You’ve probably heard the term before, but you might not be 100% sure of exactly what they are and what they do.
A self-directed IRA is a retirement vehicle allows for pre-taxed money to grow tax-deferred until you reach retirement age. In other words, you don’t pay taxes on the money until you take it out, Normally when you retire. In the interim, it grows tax-deferred.
“There are no tax consequences for rolling your 401(k) into a self-directed IRA.”
The beauty about self-directed IRAs is that they’re open investment platforms. You can invest your money into whatever the IRS will allow. Trust Deeds are one of those investments that they allow, however you can also invest in things like gold, silver, stocks, bonds, or real estate. You can actually buy a property using your self-directed IRA. There is tremendous investment flexibility with Self- Directed IRA’s.
What is also important to realize, is that you don’t have to start from scratch with an IRA. You can take an existing 401(k) or another pre-taxed retirement vehicle you may have and roll those dollars into a self-directed IRA. There are no tax consequences for doing that and you have complete control over what you invest your money in, not just the limited options that your current 401(k) allows.
If you have any questions about self-directed IRAs, don’t hesitate to contact me via phone or email today. I have plenty of resources, and I’d love to answer any questions you might have.