Menu Close

Self Directed IRA Broker

Self-Directed IRA BrokerBy placing your money in a self directed Roth IRA account you have the benefit of your money being tax-free at retirement time. You make contributions to your Roth account after you have paid your taxes. Some feel this is a disadvantage because you cannot take a federal income tax deduction for your contributions at the end of the year. If you are considering a self directed Roth IRA account, you should know that there are limits about how much you can contribute each year. These contribution limits could impact your retirement fund plans and should be considered before setting up an account.

Self directed IRA accounts are established with a Solo 401(k), for self-employed people with self directed IRA LLC, or business funds. Your retirement funds will be taken from your current plans and placed with a custodian or plan trust account. After this process is set up, the funds are transferred to a local bank giving you a checkbook account. Your custodian or plan trust advisor would then need to be consulted before you make any investments on your own. Working with your custodial and administrative service company are investment advisors, a self directed IRA broker, and tax professionals. Some of these professionals charge fees associated with any investments you make. The time delays related to a self directed IRA account could squash investments that you feel would best serve your retirement needs. Self directed IRA services do not give any legal advice or sell your investments.

Your self directed IRA LLC account can be opened at any bank of your choice. The bank will help you establish a checking account that is under your control. Your retirement funds are yours. Investments made by you come right out of your checkbook. When you find that perfect investment all you have to do is write a check out of your account. Your Self-Directed IRA LLC account is tax-free and you won’t have delays in obtaining the funds needed for your investment. You don’t need permission from a custodian to make an investment because you are in charge of your account.

Real Estate is a great investment for many reasons. You can pick a piece of property in the US or abroad and your gains are tax-deferred. If you buy a piece of property, you could rent it out until such time you want to occupy the property yourself. You could also invest in foreclosures, gold, silver, established businesses, stocks or lend money to a friend. All the income from these investments would go back into your self directed IRA LLC account tax-free.

Share the knowledge
Posted in Self-Directed IRA

Leave a Reply