5 Important Reasons Why You Should Get a Self-Investment IRA

Are you tired of getting minimal returns on your retirement investments? If you want to maximize your income while also having more control over what happens to your investment account, you should consider getting a self-invested IRA. Here are 5 reasons why you should consider making the switch if you haven’t already.

  1. Investing 401k money in real estate is impossible because your employer will choose investments that will ultimately benefit the company, not you, the account owner. When you convert to a self-directed IRA, you have a much wider range of choices, including real estate, which is an untapped investment that is very stable.

  2. When you have a self-invested IRA, you don’t have to wait for your quarterly statements to come in to find out what’s going on in your account. You make decisions about transactions and investments in your account. However, this does not mean that you are fully responsible for everything that happens with your account. In fact, your account trustee or custodian will do most of the work for you. All you have to do is state your wishes and your trustee will act accordingly.

  3. You might think that investing 401k money in real estate is possible because there are self-directed 401k plans. It may seem the same, but your options are actually much more limited with a self-directed 401k plan. For example, your employer may allow only a portion of the account to fall under a self-directed plan, while the rest of the account may fall under a traditional plan. Also, a 401k plan will always be tied to your employer no matter what type it is, so any time your employer makes an adverse change that affects you, you’ll be forced to sit out.

  4. Self-invested IRA accounts provide higher returns. Because you have a large number of investment options and no bank or employer keeping most of the profits or charging exorbitant fees, you can make more money. Just think…with a self-directed IRA, you can double or even triple your income!

  5. Investing 401k money in real estate it is impossible and difficult to make other investments of your choice within the 401k plan. On the other hand, with a self-directed IRA, you can invest in real estate with companies that use a portion of their profits to build affordable housing for the poor and for other noble causes. Socially responsible investing creates a win-win situation for everyone.

Now that you know why having a self-invested IRA is beneficial, why not give it a try? Start exploring options for how to roll over your 401k or traditional IRA to a self-directed account so you can have more flexibility, control, and income. In these volatile economic times, investing in stocks is dangerous. Your best option is to take control of your account and invest in real estate that is stable and profitable.

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