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IRA Financial Group Blog

Frankenstein Day

3 Minute Read
Key Points
  • Building retirement goals is key
  • Building monsters is not the best idea
  • Investing in your future can be a piecemeal approach

Frankenstein, The Doctor

It’s been over 200 years since Mary Shelley wrote Frankenstein and it’s celebrated each year for being one of the original science fiction stories, written by a women during times when that was not celebrated. What’s the story about? A scientist, who is anything but mad, trying to learn the secrets of the universe and create something, imbue it with life.

In Frankenstein, the doctor is eponymous with the title, not the monster. What does that novel mean? It’s been debated and dissected, pun intended, for hundreds of years. Usually the cost of modern life, the disconnection from what’s important, and the solitude of genius are considered some of the themes with which the book dwells.

Frankenstein, The Monster

After you move away from the book, and begin delving into the movies and stage productions, you can begin to notice that the name of the monster becomes the name of the doctor. If you dig deeply into analysis over that, you can come to the conclusion that the doctor was a sort of father figure to the creation, and then analyze if he failed the monster deeply, or if that’s what coming of age in every era is like.

Why do so many people call the monster Frankenstein? Well, it’s difficult to address anyone as “The Monster” on a continuing basis, particularly when the creation originally wants to be more human and live his own life. Additionally, there are many, many students, and now adults, who skipped reading the book entirely, watched a movie, possibly like Young Frankenstein, which completely loses the thread of plot in the novel itself. And of course, Halloween costumes lend to being labelled “Frankenstein.”

Frankenstein and Retirement

What in the world does Frankenstein have to do with retirement, and especially with retirement savings? It’s appropriate that around Frankenstein Day, you do a check in with the retirement monster you are creating. Is it diversified enough? Do you have what you need to make the investments you want? Are you Self-Directing your retirement goals? Or are you doing what everyone else always tells you to do with your money?

With a Self-Directed account for your retirement you can make a creation of your own. Hopefully one that’s good and doesn’t try to take over small Swiss farming communities. But you never know. Is owning real estate, domestically or foreign, something you’re interested in? Because an IRS tax expert would be able to tell you if that’s something realistically in your future.

The Self-Directed IRA is a retirement account vehicle that is best known for allowing investors to use retirement funds to buy alternative assets, such as real estate. “Self-Directed IRA” is not a term of art and you will not find it anywhere in the Internal Revenue Code (“Code”).  It simply refers to an IRA account which is permitted to be invested in traditional assets, such as stocks, but also alternative assets, such as real estate. One major advantage of investing in alternative assets with a Self-Directed IRA is that all income and gains are tax-deferred until the time when the IRA holder (you) takes a distribution.


When you have a Self-Directed IRA you can invest in many opportunities that you might not even think of on an average day. And while creating monsters might not be on the list of investments you want to make, real estate, cryptocurrency, and might be some of the alternative asset investments you do want to make.

If you’re curious about starting your investment portfolio, or if you have one and want to expand it so that you can diversify away from troublesome spots, the Self-Directed IRA may be for you. And as you cobble together your savings, you can make sure you’re doing no harm, like Frankenstein Day, which celebrates the memory of a great work struggling from the depths of time to reach a modern audience, that has something to say.

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