Individual retirement accounts (IRA) are savings accounts set up with restrictions for retirement. Funds are deposited by the individual and/or possibly the employer. The funds are then invested by the financial institution into different investment opportunities, and a portion of the yielded profit is deposited back into the IRA. With Regular IRAs, the funds are overseen by a brokerage house who invests them while managing the account.
With a Self-Directed IRA, a custodian manages the investments and thus has much more flexibility with investment choices. While traditional and Roth IRA investors are generally restricted to stocks, bonds, mutual funds, CDs, etc., Self-Directed IRAs have many possible investment choices. Self-Directed IRAs may also have less fees as the investor takes more control over the investments.
A Self-Directed IRA can be more difficult to set up than a regular IRA, but many people find that it is well worth it.
Call us today to learn what your options are for setting up a Self-Directed IRA.
At Investar, our goal is to help individuals take control of their retirement. It's recommended that the average citizen have around $1.7 million to retire comfortably. A traditional savings plan may not get you where you want to be; however, you can have the retirement you’ve always wanted! Meet with one of our retirement specialists to establish your goals. We’ll help you find options that help best accomplish your retirement goals and maximize investments that are best for your individual plan and situation.
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