How to Feel Confident in Your Self-Directed IRA
Let’s be clear: there are no “born investors.” Anyone who’s ever had success or confidence in investing has done so by developing the right habits and attitudes – not to mention experience – over a length of time to feel that confident in their investing. Yet despite this fact, many people who don’t have a lot of experience in personal investing will still feel out of their element when it comes to issues like a Self-Directed IRA.
We ask, simply: why? Why should anyone feel inadequate when it comes to their money? When you invest, you’re investing with your money. You should feel confident in it. You should feel at home. You should feel relaxed and secure knowing that your money is in the right place.
Most people feel confident and secure when they know that someone else is looking after their money. And that’s fine. But if you want to broaden your investing experience and take more direct control over the nest egg that you’re building, you’re going to have to learn how to be confident in a Self-Directed IRA. Fortunately, we’ve got some tips and advice on how to do exactly that:
Building Your Investing Experience with a Self-Directed IRA
Confidence is a consequence of experience. Most people think that only successful experience is important, but failures can be just as helpful – provided that a lesson is actually learned.
We’re not asking you to get involved in the market and start wheelin’ and dealin’ away – and you’ll see why in the next section. We merely mean to say that an idea as simple as getting started can build your confidence. The feeling of taking action is important.
Consider driving to a place you’ve never been. Even with GPS helping you along, you might struggle with physical landmarks you’ve never seen before. But once you’ve found the location – even if you took a few wrong turns along the way – you’ll feel 100% confident that you can find your destination much easier the next time. Building investment experience is similar; sometimes, it’s as simple as getting started.
Starting Small with “Baby Steps”
As we said in the previous section, you don’t have to jump into the cold water right away. Confidence doesn’t have to be built overnight. That’s certainly true with investing, when you want to make sure you don’t unnecessarily risk any money that you’re not ready to lose.
The solution? Starting with baby steps. If you’re starting a Self-Directed IRA, maybe your baby step is merely to get it funded. You’re not looking to change the world of real estate or buy up all of the world’s gold; you just want to get started.
[tweetthis twitter_handles=”@iraexpert” hidden_hashtags=”#SelfDirectedIRA”]Learn how to be confident in a Self-Directed IRA. We’ve got some tips and advice…[/tweetthis]
Setting Goals and Adjusting
Finally, it’s important to realize that like anything, a Self-Directed IRA can be a tool in an overall process. Don’t look at it as the end-all, be-all of your financial life. It should merely be a way in which you achieve your financial goals.
That requires setting hard, definable goals: for example, you might want a Self-Directed IRA to achieve a certain return every year. And it means checking in every so often to make sure that your Self-Directed IRA is indeed on track to reach these goals. If not, it’s not a problem that should overwhelm you with worry and anxiety. Instead, the process should leave you feeling that you’re at least “on your way,” that even if you sail a bit off course, that your strategy and your goals will eventually help you make the necessary adjustments to take you where you want to be.
Of course, none of this confidence ever happens unless you get started. That’s why we recommend you give us a call at 1-866-7500-IRA(472) to get the process started – to take that first baby step toward confidence. You don’t have to be a “born investor,” after all.” You merely have to be an investor.
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