No one really cares about your money like you do. This is a fact of life, and it should be kept in the forefront of any plans you make for your financial future. Even the best individual retirement account managers just can’t feel what you feel about your future because he or she is trying so hard to secure his or her own. That is why a self-directed IRA is the best choice for your retirement money.
The only person in the world who knows exactly the amount of risk you are truly willing to take is you, so it stands to reason that the person who should make your risk decisions is you. Whether you own a 401K from work or a solo 401K as an entrepreneur, having control of your money and how it is invested is the only plan that makes sense. Investing in mutual funds is a great way to go, but having the choice of which ones to put your money into is where a thinking person wants to be.
Traditional or Roth IRAs are both viable options and, as a matter of fact, many people have both types of IRAs as well as self-directed IRA LLC accounts and self-directed IRA real estate accounts. Having a variety of accounts in your portfolio is a wise choice because it allows you to be in a position to take advantage of opportunities as they appear. Having self-directed accounts also means that the decisions can be made according to your schedule and not according to someone else’s.
There are many things that you should do when you are in charge of your own future, not the least of which is to learn all you can about the various investment options available to you. Things like knowing that a Roth IRA is one in which all its returns are tax free, or that some of the real estate possibilities are closed to certain sorts of IRA accounts are things a serious investor will have learned before starting.
Whatever form of IRA you decide on, a self-directed IRA is the sound and prudent way to go. The only person who cares about you as much as you do is your mother, and chances are good that she is not available to make your decisions, and, if she were, you wouldn’t want her to anyway. Take your security into your own hands with a self-directed IRA.