IRA

Self Directed IRA: Know Your Facts

If you are tired of the way your retirement fund is being handled and you have already moved your account from the standard 401k fund to an IRA account but you still want to gain more control over the decision making process, you could change the IRA type and move it into a self directed IRA. What does that entail?

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Well, for the most part, having a self directed IRA means that you gain more control over your financial options.

Of course there is a caveat to these things – even with self directed IRAs, there are still IRA custodians.

Who are these people? Well, in a nutshell, these are the people who make the transactions for you when you want to move your investments around.

Think about it this way: you are a holder of a self directed IRA plan.

As such, you are able to move and place your money wherever you want to put it as long as it is prescribed by law and under the rules and regulations, as stipulated by the different regulatory boards for these things.

However, the thing is, you need to make sure that you would be able to make sure you have someone to look over your investments, this is where the custodian would come in.

Speaking of investments, there are different types: you could go for stocks or bonds or if you are feeling you need to diversify further, you could go for self directed IRA real estate options – that way you have a surefire investment in your hands. As long as the law allows you to invest in that piece of land, you could have it and when the price is right, sell it off.

After all, with an IRA it is your money, first and foremost, that has to be considered – if you cannot make sure it will grow, why bother?