How do you define rich? How do you define wealthy? The numbers add up differently to every investor, but one common answer is that everyone wants to feel financially secure. And one of the most powerful ways of achieving that level of financial security is through an IRA or a Self-Directed IRA. An IRA gives you tax protections that could add up to tens of thousands, maybe even hundreds of thousands of returns over the years.

So why do only 31% of American adults have an IRA? Why do fewer still have a Self-Directed IRA?

Something is out of whack here. Fortunately, Investors.com recently put out an article that explained how you can make yourself wealthier through the magic of the IRA.

A Dozen Ways to Greater Wealth in Self-Directed IRA Retirement

The article is full of great tidbits, including the following benefits of using an IRA to increase your wealth:

• Control over your assets—with an IRA, you can easily control your own money and tell it what to do. You’ll see in the next section just how many options you have in this regard.
• Tax deductions—contributions to a traditional IRA can count as tax deductions—up to a year limit.
• Tax-deferred growth—as your money grows in a general investment account, you may still have to pay taxes on it depending on which actions took place. With an IRA, your growth is tax-deferred.
• Separate savings—by keeping your retirement separate from the rest of your savings, it’s more difficult to touch it, leading to more financial discipline—and thus, better rewards—automatically.
• Low cost/ease of entry—IRAs aren’t only for the wealthy, though they can help make you wealthy. A simple initial investment of $1,000 can get you started with a T. Rowe Price IRA account, the article points out.

For the person just starting out in investing, these benefits might not sound that great. Who needs tax deductions or tax-deferred growth when you have no money to grow whatsoever? And isn’t $1,000 still a lot of money?

If you’re just starting out in retirement investing, then it’s important to know about one concept: compound interest. Simply put, small investments can add up to a lot of money over time—6% of one hundred thousand is a lot more than 6% of one thousand. The sooner you get started, the better a chance you have at becoming wealthy in your retirement.

Adding a New Wrinkle: The Self-Directed IRA

Although these IRA benefits—and you can read about them at Investors.com—are perfectly valid reasons to consider an IRA, there’s one thing that the article fails to mention at length: the amount of control that comes with a Self-Directed IRA.

You see, the traditional IRA investment tends to be stocks or bonds. But the IRS allows for a wide range of investments to take place in an IRA when you direct your own. That includes real estate, precious metals like gold and silver, and even stock in private companies. These avenues offer additional opportunities for compound growth, giving you the ability to expand your retirement portfolio and become wealthy in your retirement years.

If you’re unfamiliar with Self-Directed IRAs or how they work, consult our free Self-Directed IRA guides here at American IRA. These guides will bring you up to speed on controlling your own IRA and grabbing hold of your financial destiny—which in turn can give you greater results as you plan your retirement.

For more information about the Self-Directed IRA, continue browsing our site here at AmericanIRA.com or simply give us a ring at 1-866-7500-IRA(472).