Those who are interested in making a great deal of money for themselves are usually interested in doing it their own way. This means that they like to be able to be in control of the investments that they are making. Fortunately for these individuals, there is something known as a Self Directed IRA that allows them to do this.
With a traditional IRA, one simply puts their money into the fund and has it diversified for them. The IRA may mention what types of investments it joins, but it does not allow the investor to really pick into which investments he or she would like to place their money. Given this fact, many have turned to a Self Directed IRA as an alternative.
Even better than this type of fund is a Self Directed Roth IRA. The key difference here is in the way the two funds are taxed. While the Self Directed traditional IRA is taxed when the money is withdrawn at the end, the Self Directed Roth IRA is taxed before the money is put into it. Since the amount of money that one puts into the fund each payday is much smaller than the amount that is withdrawn at the end, the Roth IRA option is clearly less of a tax burden, and therefore a much better selection.
If a Self Directed IRA does not interest you, then you might consider a solo 401k. This is similar to the IRA except that the 401k has different types of options available. It, too, is taxed differently. Usually when one opens a 401k account, they are going to receive matching funds for whatever monies they place into it from their employer. However, if you want more control over your investments, then you want to ensure that you are getting a solo 401k.
Those wondering what would be best for them to invest in right now should probably have a look at Self Directed IRA real estate. This is an IRA that is centered on real estate investments. It is a good idea to take a look at this kind of investment simply because the real estate market is ready for an upward swing. If you invest in Self Directed IRA real estate now, then you stand a good chance of making money for your IRA.