Self-Directed IRA

A Checklist for Choosing the Right Self-Directed IRA Plan

When you get excited about the possibilities of the Self-Directed IRA, it’s easy to feel a burst of momentum. You can’t wait to begin investing and building retirement wealth on your terms. But then you find out that there are particulars to answer—particulars like which Self-Directed IRA plan to choose. And as you get bogged down in the details, it’s easy to feel overwhelmed. Momentum slows. Eventually, you start to put off entire aspects of the process.

It doesn’t have to be that way. We’ve made it easy to choose the right Self-Directed IRA plan by outlining the steps in the process right here:

Checklist Item #1: Read Up on the Different Types of Self-Directed IRA Plans

Let’s start with the foundation: you have to know what it is you plan to do. And you can only do that if you know what separates the various plans from each other. That’s why we feature a section on each Self-Directed IRA plan and its particulars. Each section includes a “learn more” button so you can read more about each plan. Or you can scan through and get a sense of which plan might suit your own retirement strategy best.

And speaking of retirement strategy…

Checklist Item #2: Write Down What You Want Your Retirement to Look Like

The plan you choose should be in alignment with the way you see your retirement going. Sure, it’s impossible to predict the future. But with adequate planning and frequent reviewing of your progress, you’d be surprised at the amount to which you can plan your retirement from a financial standpoint.

But that only happens if you plan it from the get-go. This is the time to do that. How do you imagine retirement? Do you only want to find the highest-yielding investments with the highest possible savings rate? Do you want the stability of real estate generating cash flow in your retirement budget?

Sit down and write a scenario of how your retirement will look; you might even call this “My Perfect Retirement Day.” As you look at what that day looks like, you’ll get a sense of which strategies are more in alignment with your goals. And as those strategies become clearer, the specific retirement plans will be that much more obvious.

Checklist Item #3: Evaluate Your Current Status

When you evaluate where you want to go, you’ll clarify the next steps by getting a clearer sense of where you are. This is a great time to take a snapshot of your finances. What retirement accounts do you already have? How well-funded are they? Look at your top budget items and see if there are retirement plans you can choose that would give you more flexibility in your current budget. From here, you’ll have the vantage point to see the journey ahead of you with that much more motivation and enthusiasm.

Checklist Item #4: Reach Out to American IRA

Once you know what you want to achieve, it’s time to put that plan into motion. You can start by reaching out to American IRA. As a Self-Directed IRA administration firm, we won’t tell you what to do—but we will help you execute a Self-Directed IRA administration firm by acting as the custodian. That means we can administer the paperwork as you build a retirement plan based on your vision for success.

Interested in learning more about Self-Directed IRAs?  Contact American IRA, LLC at 866-7500-IRA (472) for a free consultation.  Download our free guides or visit us online at

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