Last Updated on June 14, 2021
Flag Day is today, June 14, and it can help explain your retirement strategy.
- Every June 14 is Flag Day in the United States of America
- America’s flag is known as the Stars and Stripes
- 1877 was the first national Flag Day
What Is Flag Day?
As part of America’s more recent history, there has been a great deal of discussion as to whether Washington D.C. should be admitted as a state to the union. Leaving aside that discussion, it does bring up an interesting question many alive today have never considered. Changing the United States flag to allow entry of another state.
Flag Day celebrates the representative flag of the U. S. and as you know has 13 stripes, for the original colonies. What you may not have realized is that the flag has changed a great deal over the years, from those first colonial designs to the current, 50-state, 50-star flag we have today.
From a circle of stars indicating all the colonies were equal in the new nation, to the even placement of the stars on the flag today, there have been changes and alterations to the country’s flag. As a nation grows and changes, it makes sense that the flag would as well.
There are also requirements for handling, displaying and disposing of flags, all of which should be followed to continue to show respect.
Flag Day, Retirement And You
What does Flag Day have to do with your retirement? It’s all about change. Although the United States flag has not changed since 1960, there’s always the possibility that it can and will. And your retirement plan should certainly have changed since the ’60s. The earlier you start saving for retirement and the more you can put away, the greater you will have when you do decide to retire or take distributions for other investments.
But you do have to change your style every once in a while. Cryptocurrency wasn’t even something to consider years ago, but exploded onto the scene in recent times. Highs and lows, ups and downs, rising and falling, it performs quite differently from other stocks and alternative assets, but it can still be important for your retirement.
A Self-Directed IRA LLC (SDIRA) is a type of individual retirement account that allows retirement investors to use their IRA funds to make alternative asset investments. Self-Directed IRAs are similar to traditional IRAs, but they provide more investment options to IRA holders. By using this retirement structure, you can diversify your investment opportunities and invest outside of stocks, bonds, mutual funds, and other traditional assets. You can still make traditional asset investments, but if you’re more comfortable investing in assets like real estate and precious metals, the Self-Directed IRA LLC allows you to do so. Ultimately, this diversifies the assets inside of your retirement account.
This self-directed plan gives you more control over your retirement funds. However, it’s important to note that not all Self-Directed IRAs are the same. As a result, you will not find this term anywhere in the Internal Revenue Code.
There’s nothing quite like change to reinvigorate – a country, a portfolio, a retirement plan. Looking into new avenues of planning can make the connection between Flag Day and your retirement very apparent. As you celebrate what you believe in about the United States, and fly it’s symbol in the sky, remember that change can be good, and sometimes a change is as good as a rest. Looking at Flag Day as a celebration of all the challenges a nation has faced is an excellent time to reflect on how your investments can help the nation achieve its goals while you are achieving your own.