The Importance of an IRA: Gain control over your investments

June 15th, 2011

As you get older, you start to invest in your future, either with a retirement fund, buying a house, or purchasing other assets. Have you tried to make an investment and have something hold you back because you found out that you really were not in control of your IRA or retirement plan? Now you no longer have to worry about that. With the solo 401k plan, self-directed IRA, Self Directed Roth IRA, and Self Directed IRA real estate, you have the control of those decisions. These decisions can be made when you want, tax-free, and without custodian consent.

You may be asking yourself what exactly are these, and what benefits do these give me? The solo 401k plan is not a new plan, but is the traditional 401k plan, which covers only one employee. It has the same rules and requirements as every other 401k plan. This plan is perfect for independent contractors, consultants, or any sole proprietor. The solo 401k plan offers the same benefits as the Self Directed IRA LLC without the individual having to create an LLC or hire a custodian. This plan lets a self-employed business owner use their retirement fund to make any type of investment tax-free without requiring a custodian’s consent. You can also make high contributions as well as borrow $50,000 for any purpose.

For 35 years, the Self Directed IRA, Self Directed Roth IRA, and Self Directed IRA real estate have been known as the “Checkbook Control” structure. These structures have become popular for gaining total control over investments made by your IRA funds and making them tax-free. Yes, tax-free. A limited liability company or a LLC is started and owned by the IRA account and controlled by the IRA account holder, namely you. The IRA funds are then transferred to the new LLC bank giving the IRA holders complete “checkbook control” over their IRA funds.

Choosing any of these could be greatly beneficial to your future and save you a lot of money. You will be in control of your IRA funds and be able to make investments such as real estate, tax liens, precious metals, private businesses, and so much more. Not only will you be able to do this tax-free, but you also can do it when you want without having to get consent from the custodian, which is pretty great.