Looking For a New Way to Invest? Consider a Self Directed IRA

Planning for the future is an important part of being employed. Ensuring future financial security for yourself and your family should be something you take to heart. After all, the future can hold all sorts of ups and downs. It is best to be prepared.

While there are dozens of retirement fund options available to you, you may want to consider applying for a self directed IRA, a great way to efficiently invest your money for your retirement. For further information, you should make sure to consult a specialist from a self directed IRA company. He or she should be able to help you figure out your options and what to invest in.

Why Should You Choose a Self Directed IRA?

In the simplest of terms, a self directed IRA gives you full control of what you invest in, including bonds, private stocks, and, most commonly, property. You are the one who makes all the decisions about where to put your money. While certain stipulations require that a trustee or custodian holds all of your assets, you are the one in charge of the investments and contributions.

Furthermore, you have several options available as there are numerous different types of self directed IRAs, from a traditional IRA to a 401k self directed retirement plan.

Types of Self Directed IRAs

Here are a few common IRA plans.

• Roth IRA: A self directed Roth IRA has no upfront taxes, which allows your fund to grow rapidly. Withdrawals made after retirement remain free of taxes. Unlike other retirement savings plans, a Roth IRA does not have any age requirements for distribution.

On the downside, contributions you make are not tax deductible, and eligibility for this account tends to taper off after certain income limits.

• Simplified Employee Pension (SEP): With a SEP account, self-employed professionals and small business owners can make contributions of up to $49,000 without committing to more complex retirement plans. Contributions are tax deductible and funds are only subject to taxes after withdrawal. SEP accounts are easy to set up and maintain.

• Education Savings Account (ESA): As you might guess from the name, this self directed IRA is designed to cover future education expense for a chosen beneficiary. This account covers all grade levels. Education expenses include tuition, books, computers, and uniforms. Annual contributions cannot exceed $2,000. Beneficiaries must be minors (under the age of 18). This type of account is a great way to invest in your child’s future.
  
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