How might an investor start the process of investing in Self-Directed IRAs? In retirement, as in life, knowledge is power. Knowing where to find the right information is key here, because it will help investors not only learn how to take advantage of non-traditional assets within a retirement account but will help them take action toward retirement in the first place. Here are some great resources you can use to find everything you need to know about Self-Directed IRAs
American IRA’s Self-Directed IRA Resources
Let’s look at a few of the best resources we have compiled to help guide investors as they try to learn more about Self-Directed IRAs:
- The Self-Directed IRA Investor’s Guide: What is an IRA? This guide is a great starting point for anyone who wants to learn the basics. In the introductory section of this IRA guide, we explain what an IRA is and how a Self-Directed IRA fits into the world of retirement. Section 1.3 also teaches about early withdrawal penalties, required minimum distributions (RMDs), and which sections of IRS code are most pertinent to understanding these penalties. This is a great way to familiarize yourself with all of the important IRA concepts as you learn.
- Selecting a Self-Directed IRA Account. This resource gets into the nitty-gritty details of what each type of account can do for you. What’s the difference between a Self-Directed Roth IRA and a Self-Directed 401(k)? Which might be right for you? Should you consider a Self-Directed Simple IRA? This section will not only introduce each of these concepts, but features links to in-depth reviews of how each account type works.
- Self-Directed IRA Investment Options. Let’s say you already know a lot about the Self-Directed IRA, but you are more interested in what sorts of investments you can make. Here is where you will learn about non-traditional investments like real estate, precious metals, private notes, and tax liens. Click on an individual section like Private Lending and you will learn what each individual type of investment covers—and what the possibilities are when you use a Self-Directed IRA.
- Frequently Asked Questions. Sometimes, you just want to ask a question. But if any of the questions you have in mind are already popular, you might find the answers here. Topics addressed include what to do with a 401(k) plan from a previous employer, whether your contributions are tax deductible, and what you need to know about distributions, including key points like what distributions you need to take at what age.
What if You Need to Know More?
There’s so much information above that you may already begin formulating a strategy for retirement based on what you have read. You will know more about Self-Directed IRA account types, how to fund them, and what types of investments you can make every year once you have a self-directed arrangement in place. But what if you want to know more about these retirement accounts?
American IRA is a Self-Directed IRA administration firm, but we are not an investment advisor. We will not be telling you what investments you should or should not make; we can instead inform you about the IRS rules and help guide you when it comes to establishing an IRA. However, a Self-Directed IRA gives you more independence than other account types, allowing you to make the decisions you want to make. That’s why it’s so important that you know how these account types work, how to use them, and what your options are.