Using Your Checkbook With A Self-Directed IRA
Have you had to wipe the dust off your checkbook, it’s been so long since you have used it? Not even sure where it is? You might want to take note as using your checkbook with a Self-Directed IRA is now the hot way to have authority over your financial planning future.
There is a growing trend among in the know Individual Retirement Account (IRA) owners who are taking the steering wheel of their financial future. They are using their retirement funds in their own personal accounts with checkbook control to make alternative investments of their choice. This includes use of traditional, Roth IRA, SEP-IRA and 401k plan owners.
They are using that Self-Directed IRA to purchase non-traditional IRA investments such as real estate investments (including international real estate), mortgages and trust deeds, tax liens, private partnerships, private placements, limited liability companies (LLC’s), business opportunities, and much more.
The most common IRA account custodians are banks and brokerage companies. They tend to limit your choices to certificates of deposit, stocks, mutual funds, annuities, and similar financial instruments as it is in their own self interest to do so. They make their money from the sale of these types of investments and they usually only offer their own commissionable products to their account holders.
When you by-pass the banks and brokerage firms, you are making the statement that you are in control over your future. You alone determine the success of your hard earned retirement monies. You can decide when and where your plans are invested and how. You own the confidence of having made the best decisions for your money.
When you find an investment that you are interested in purchasing…you simply write a check from your bank account to purchase the investment product. There is no need to secure approvals from your account custodian. There are no time delays in awaiting approval from your custodian. There are no review and transaction fees to pay.
You are the one who worked so hard to grow your retirement fund. Why give over that control to someone else only to see it become stagnant? When you use a Self Directed IRA to make the investment, you, acting as the manager, call the shots. No longer are you limited to what your money can do for you.
If you have been discouraged with the amount on returns or are you concerned about the safety of your Individual Retirement Account (IRA) then you need to take direct control of your IRA, 401k or other retirement funds using checkbook control.
NAFEP (The National Association of Financial and Estate Planning) is a leading provider of self directed IRA and self directed 401k products, administrative and custodial services.
June 26, 2010 | Posted by John Coktostin
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