Be honest. The first time you heard about Self-Directed IRAs, did it sound like they were going to be easy to learn about? If you are like most people, you may have assumed that they are overly complicated—the kind of accounts that investors with a ton of accountants and lawyers could afford, but not every day, average Americans. The truth is, plenty of ordinary investors can use Self-Directed IRAs and do. They just know that they have to do their homework.
And doing one’s homework into learning all of the ins and outs of Self-Directed IRAs is not as intimidating as it sounds. If you want to learn more about Self-Directed IRAs, here are some of our favorite tips for getting started.
#1: Find a Self-Directed IRA Information Source You Can Trust
The most important thing is to make sure that when you start reading up, that you are reading words from a good source. There are all sorts of questionable websites out there, and you never know when someone is selling you a bill of goods. Sure, they may tell you some of the facts, but they may also omit key points to try and steer you in a specific direction.
How do you know you can trust a source for Self-Directed IRA information? The first thing you can do is look at websites like Forbes and Investopedia. These sources have built plenty of trust over the years as rich sources of information.
Another thing you can do is take a look at the company behind the website. For example, American IRA has a long history of trust from its clients. The tips and knowledge you read here are based on the experience of people who have long since worked in the field of Self-Directed IRAs.
#2: Cross-Reference the Information You Learn
There’s no reason you have to have just one source to learn about Self-Directed IRAs. For instance, here at American IRA, we frequently link to other pages and sources to fill you in on the details that you will want to learn about. One of our most common habits is to link directly to the pages at the IRS, giving you the exact context for what you need to know if we are talking about a particular quirk of a Self-Directed IRA account like the Roth IRA.
You don’t have to rely on websites creating these links, however. You can cross-reference your own research. If you have a question, consult one site’s answer to an FAQ, and then another. Which one makes more sense to you? Which one does a better job of filling you in with the context?
#3: Sign Up for Exclusive Research
Here at American IRA, we offer a blog that routinely posts content about Self-Directed IRAs. But it’s not all we do. You can also access a wide range of information and exclusive insights that you can use to inform yourself on your Self-Directed IRA journey.
For example, you can sign up for our Self-Directed IRA Knowledge Center at no cost to you. There you will find extensive video libraries, PowerPoint presentations, and other in-depth IRA reference materials to help guide you along your journey. After all, retirement is a marathon, not a sprint. And an investment in your knowledge is sure to pay dividends down the road.