What makes the best Self-Directed IRA company? What do its traits look like? Its experience? And how does it help investors when they pursue a retirement strategy based on Self-Directed IRAs? To answer that, we’ll have to dive into exactly what it is that an IRA company does, how that relates to the investor, and how you can choose a Self-Directed IRA administration firm that meets your needs. Here’s what you’ll need to know.
What a Self-Directed IRA Company Does
If you’re working with a Self-Directed IRA administration firm, they’ll typically act as the custodian on the account. In this way, they help carry out the administrative duties on the account, including filing the paperwork for your transactions. This means that when you have an IRA and want to purchase some real estate for your retirement portfolio, you can direct your Self-Directed IRA administration firm to do so, confident that they’ll carry it out in the best way possible.
This means that a Self-Directed IRA administration firm is not a tax advisor, nor are they a financial advisor. You’re making your own decisions in an IRA—hence the name. But when you work with a reputable Self-Directed IRA company, you’ll find that the experience is smooth and that they have the knowledge to help carry out the administration of the account on your behalf.
Why American IRA?
When you think about what a Self-Directed IRA administration firm does, you might wonder what makes them different each different from each other. Why choose one over the other, if their job is to get out of the way? Well, there are a few reasons we like to highlight here at American IRA:
- Pricing structure. A Self-Directed IRA administration firm performs a service, and for that service, it charges fees. However, the way those fees are structured can have a dramatic impact on your retirement portfolio in ways that might not seem obvious at first. Many companies will charge you more as your retirement account grows. However, with American IRA, there are flat fees that stay the same size even as the investments present in your retirement increase in value.
- Experience. It’s not enough to be an administration firm. You have to have the experience to back up everything you do as a custodian, understanding the filing requirements for any type of purchase. It is, after all, a big world of retirement assets out there, and your Self-Directed IRA administration firm needs to be capable of handling them all.
How to Get Started with a Self-Directed IRA
If you want to take control over your finances in retirement, it starts with calling the shots in your own retirement portfolio. That’s where American IRA can help. You can open an account with American IRA, LLC, and then choose a way to fund it. Then it’s up to you to simply identify the investments you want to make, send American IRA your buy direction letters, and provide the proper payment authorization. As you’ll find out when working with us, it’s actually much easier to handle a Self-Directed IRA investment than you might think. And with our flat payment structure, you’ll also find that you’re incentivized to continue growing the account, making those fees smaller by comparison to the account total. This helps you keep more of your retirement money where it belongs—in the assets themselves, under the umbrella of a tax-protected account.