American IRA, LLC, A National Self-Directed IRA Provider-Announces Sean McKay Has Been Promoted From Vice President Of Business Development To Senior Vice President

American IRA, LLC, a national self-directed IRA provider-announces Sean McKay has been promoted from Vice President of Business Development to Senior Vice President!

Sean McKay has been instrumental in the development of the American IRA, LLC business both before and after its transition from Entrust Carolinas, LLC to American IRA, LLC.

Sean began working for Entrust Carolinas, LLC prior to their move from the Entrust Group at which time American IRA, LLC was born. One of the great things about this transition is that it allowed American IRA, LLC to become completely independent. Their CEO and Founder, Jim Hitt, made the decision to go independent for a number of reasons, one of the most important reasons was that Jim wanted the ability to be more responsive to clients’ needs. Jim knew that the key to seeing this transition move through smoothly was relying on the experience and expertise of the current staff. Jim Hitt interjects, “Sean was part of the original team and keeping him through the transition was one of the better decisions that I have made! He has great insight into customer needs and is able to move through the most complex customer questions.”

Sean’s background fit the needs of American IRA exactly. Joining the team with a Bachelors Degree in Economics ensured that Sean has a great understanding of financial matters. Sean is now a well-known speaker in the IRA field and a successful investor; Investing in everything from private notes to real estate.

Jim Hitt concludes, “Sean came to us with the perfect skill set and educational background to help move the business forward. He has grown his skills tremendously each year and it is clear that he is definitely the right person to carry the American IRA team forward leading the way as their Senior Vice President.”

According to USA Today, Many Will Have To Work Until They Are 70. Jim Hitt, CEO Of American IRA, Says This Is Exactly Why Self-Directed IRAs Are So Important!

According to USA Today, many will have to work until they are 70. Jim Hitt, CEO of American IRA, says this is exactly why self-directed IRAs are so important!

The USA Today article ‘Retirement bottom line: Many will have to work until 70’ addresses the serious issue of retirement funds. The article begins by explaining that Baby Boomers, with their inheritances, homes, and pensions, may be on track for a good retirement. They then caveat that by saying that the generation born from 1946 through 1964 isn’t necessarily so rosy.

This article is right on point when it states that many are ill-prepared for retirement. Jim Hitt, CEO of American IRA, says “In addition to the American IRA business I have some real estate investments…mobile home parks and single family rental homes…too often I have someone rent a mobile home that should be enjoying their retirement but, instead, are struggling just to keep a roof over their head because they don’t have any retirement funds. This is a sad and very avoidable situation.”

The overall gist of the USA Today article, as they stated by Munnell “is that retirement ages are increasing as people live longer and health care costs rise, and at the same time the retirement system is retracting.”

Economist John Turner, director of the Pension Policy Center in Washington, D.C., thinks retirees above the poverty level should do OK with at least 60% of pre-retirement income. Jim Hitt strongly disagrees stating “Now listen, I have a great deal of respect for John Turner and his expertise still I have to take issue with the fact that 60% of pre-retirement income is enough. Think about how much you are making now and decide whether you can get by on 60% of that. For some of you the answer is, yes. Now think about whether you ‘want’ to have to get by on 60% of your income throughout all of your retirement years…I’ll be the answer is, no. With the costs of everything on the rise, it is critical that planning for your retirement is a major priority for everyone.”

Self-directed IRAs are an excellent tool to help build those retirement accounts. These accounts allow people to invest with their IRA funds in things that they know and understand and that leads to greater growth within their accounts. Jim Hitt concludes “Should you save money? Yes…absolutely you should! I’m not suggesting that saving money is not the answer. What I am saying is that saving your money and putting it in an account that you can not control is not the answer. Would you bury your money in a box in the local public park? Of course not! So why then would you place it in a retirement account that you have little control over? If you self-direct your IRA, 401(k) or other retirement account, you have complete control over what you invest in. We have clients that have seen increases in their accounts of over $200,000 in 5 years…some of those clients started out with as little as $6,800. With a self-directed IRA you can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more!”

New Suits Over Do-It-Yourself IRAs, As Reported By The Wall Street Journal, Prompts American IRA, LLC To Remind Self-Directed IRA Holders About Important ‘Due Diligence’

New Suits Over Do-It-Yourself IRAs, as reported by the Wall Street Journal, prompts American IRA, LLC to remind self-directed IRA holders about the importance of ‘Due Diligence’. Regardless of what you invest in…it is critical that investors perform ‘due diligence’ and that they hire professionals to perform ‘due diligence’ for them when they are working in an area that they are not an expert in.

The Wall Street Journal reports that a wave of blowups in self-directed IRAs has prompted some investors to go after firms that handle the paperwork. The article goes on to report that self-directed IRAs have been around for years and have increased in popularity as investors sought after investments that brought higher returns than the stock market.

This recent lawsuit has brought suit in the U.S. District Court in Los Angeles by investors who allege that the companies administering their accounts knew the investors money had been stolen by scam artists yet sent them reports showing the value of their account remained the same. Jim Hitt, CEO of American IRA explains, “There is a common misunderstanding of how the retirement accounts are valued. When an investor takes money out of their retirement account and purchases an asset, the value of that asset is included in the value of the retirement account. The difference is between “cash value” which is the actual “cash” in the account and “asset value” which is the combined value of all the assets in the account. The value of the asset is established at the time of purchase and is then required to be re-evaluated by a professional each year. The professional deems the value of the asset and then that asset’s value is updated accordingly on an annual basis. In the event that an asset loses value prior to the annual evaluation, the account holder must get a professional to evaluate the value and only then can the asset’s value be updated in their account. It is very likely in this case, that the asset values were never formerly re-evaluated which left the value of the account the same even though the investment had gone flat.”

American IRA always emphasis’ the importance of ‘due diligence’ and the importance of working with an administrator who is willing to explain the self-directed IRA process.

The Wall Street Journal article goes on to explain that the outcome of this lawsuit is unclear since administrators do not choose the investments or take fees based on investment success. Jim Hitt, offers a reminder “Administrators do not assign the value to assets.”

Retirement at 23?!? Bain Capital offered their employees a chance to co-invest in take over deals averaging 50% to 80% returns in their self-directed retirement accounts.

Retirement at 23?!? According to a Wall Street Journal article, Bain Capital offered their employees a chance to co-invest in take over deals averaging 50% to 80% returns in their self-directed retirement accounts. American IRA, LLC CEO, Jim Hitt, says “This is one outstanding example of how tax-deferred and tax-free accounts can be used to build wealth.”

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American IRA Announces Its Sponsorship of Pitbull’s 26th National Hard Money Conference on March 21st in Fort Lauderdale

American IRA, a National Provider of Self-Directed IRAs, announces its sponsorship of the Pitbull’s 26th National Hard Money Conference on March 21st in Fort Lauderdale, Florida. Learn how to create a pool of funds and avoid those lender induced headaches!

Jim Hitt shares, “As an entrepreneur, I have owned everything from single family homes to multi-million dollar commercial properties. Being self-employed has tremendous benefits…yet when it comes to lenders…being self-employed can be an obstacle. It seems the more creative the deal, the more resistant traditional lenders can be. Hard money lenders are more inclined to loan money in those situations because they know that creative deals can lead to excellent returns.”

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Hard Money Lending Major Event Coming Soon…American IRA Announces The Upcoming National Hard Money Seminar

Hard Money Lending Major Event Coming Soon…American IRA-A National Provider Of Self-Directed IRAs Announces The Upcoming National Hard Money Seminar in Fort Lauderdale, Florida on March 21st, 2012.

These events are always booked to capacity. This year will be no exception as Hard Money Lending is growing in popularity in this economic climate.

Jim Hitt, CEO of American IRA says, “There are many reasons why Hard Money Lending is growing in popularity. Still, there are two major reasons:

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American IRA Announces Major Improvements To Their Forms Page Adding More Options And Easier Navigation

American IRA, A National Provider Of Self-Directed IRAs, announces Major Improvements to their Forms Page adding more options and easier navigation! With their mission to provide the highest level of customer service in the self directed retirement industry, they focus on continual improvement in all aspects of their business.

Jim Hitt, CEO of American IRA, says, “We pride ourselves on simplifying things for our clients. Account transactions should not feel like ‘rocket science’! With that thought in mind, it was clear that we needed to make significant changes to our forms page. As part of our desire to bring the WOW factor to our clients, we incorporated the latest and greatest functionality thus improving the customer experience with ease of use/operation.”

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Sean McKay, VP Of Business Development At American IRA, Invites All To A Free Webinar ‘ABCs Of Self-Direction’ on January 12th

Sean McKay, VP of Business Development at American IRA-a National Provider of Self Directed IRAs, invites all to a free Webinar ‘ABCs of Self-Direction’ on January 12th. This is a basic webinar designed for those that would like to learn about Self-Directed IRAs.

Sean McKay says, “This is our ‘basics’ presentation for those looking to learn about the flexibility available to them within Self-directed IRAs. We provide these webinars free of charge as part of our mission to educate the public that their retirement account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more!”

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Jim Hitt, CEO Of American IRA, will be Sharing His Extensive Knowledge of ‘Making Self Directed IRAs Work’

Jim Hitt, CEO of American IRA-a National Provider of Self-Directed IRAs will be sharing his extensive knowledge of ‘Making Self Directed IRAs Work’ on January 10th, 2012 at the KnoxREI January meeting.

This will be an information packed event in which Jim Hitt, CEO of American IRA, will share his extensive knowledge of ‘Making Self Directed IRAs Work’ by presenting “Advanced Investing with Self-Directed IRAs.”

Mr. Hitt announces, “This is an advanced session not a beginners session. While everyone is welcome to attend, I want to make sure everyone is aware that we will be covering advanced level information.”

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