What is a Self-Directed IRA?
A self-directed IRA is a nontraditional retirement account that allows individuals to invest in what they already know and understand with alternative investment options not allowed within typical retirement plans,
including the following:
Real estate – residential and commercial properties, land, renovation or new construction, passive rental income -Mortgages and other loans -Private hedge funds -Precious metals -Limited partnerships -Commercial paper and notes -And many more
A broader selection of allowable https://us-southeast-1.linodeobjects.com/precious-metals-pr/storage-options.html investments in a self-directed IRA means informed consumers can develop a more eclectic portfolio that they control; it allows them to respond to economic downturns or take advantage of opportunistic (and tax-advantaged) investments in a more nimble way than going through a conventional IRA custodian.
If you have had experience before with these kinds of investments outside of your retirement plan, a self-directed retirement plan could be a smart way to grow your savings more aggressively.
Who Should Open a Self-Directed IRA?
If you are someone who understands certain markets and investments and perhaps is already investing in those as part of your retirement plan, consider applying what you know to this new investment strategy.