Seven Tips for Getting the Most from Self-Directed IRAs

Self-Dircected IRAsIf you’ve read about Self-Directed IRAs, then you already know that they can be one of the most important ways to take control of your retirement plans and ensure that your portfolio looks the way you want it to look.

But if you don’t already have a Self-Directed IRA, now’s the time to learn how to maximize the value you get from them. After all, it takes more than just the wish to change your financial future…it takes no-how, plenty of action, and a plan that doesn’t only help you improve over time but ensures that your goals are met.

We’ve put together seven tips for getting the most from a Self-Directed IRA not only as a way to better understand IRAs, but to understand investing and retirement in general. Some of these tips might apply directly to your situation…and others might not be so relevant. But it will be important to digest them all so that you can tackle your own retirement plan with as much knowledge as possible:

  1. Use a Self-Directed IRA for diversification. You might think you’re diversified, only to look at your portfolio and realize that all of your money is in U.S. stocks. Diversification can be relative, after all…you might be diversified as opposed to someone who has all of their retirement in stock options at their company…but you’re not as diversified as you could Using a Self-Directed IRA to invest in real estate and precious metals are just a couple of ways to expand your portfolio’s quality.
  2. Don’t limit yourself. The beauty of the Self-Directed IRA is that it allows you to do so much with your retirement investments, including the aforementioned real estate and precious metals. But there’s more, including private investments and tax liens, that you can use to round out your strategy.
  3. Start with a plan in mind. A Self-Directed IRA is a powerful tool, but it’s just that: a tool. Just as one can Self-Directed IRAsuse a hammer to build a house or a drop a hammer on to break a toe nail, what matters is what you do with the tool. Start with a plan in mind so that you use the tool to its highest degree of effectiveness depending on your goals.
  4. Set a retirement goal date. If you want to get specific, you can use a goal retirement date to help you evaluate whether your Self-Directed IRA is performing how it should. This retirement date will allow you to track your progress in milestones, giving you the ability to annually review your portfolio to see if its performance is up to snuff.
  5. Don’t ignore stocks. Just because you’ll have lots of investment freedom doesn’t mean you should abandon the stock market. The stock market has been a reliable means of capital growth for a long time, and it should be a major part of your portfolio—but not the only part.[tweetthis twitter_handles=”@iraexpert” hidden_hashtags=”#SelfDirectedIRA”]Don’t limit yourself. The Self-Directed IRA allows you to do so much…[/tweetthis]
  6. Build over time. Remember, it’s not a foot race…it’s more of a long, slow movement to the finish line, and you’re not competing against anyone but yourself. Have patience with your Self-Directed IRA portfolio just as you would with any retirement account.
  7. When in doubt, get help. Consult an accountant or similarly-minded investment professional to help you with your Self-Directed IRA issues over time.

If you’re interested in setting up a Self-Directed IRA and believe you can use it to fulfill your financial goals, then be sure to call us at 1-866-7500-IRA(472) and continue browsing for more information about investment and retirement.






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