CHARLOTTE, NC / ACCESSWIRE / June 26, 2019 / Pointing out that many American workers never make their dream of an early retirement a reality, a recent post at American IRA highlighted what it takes to make an early retirement come true. This includes detailed strategies-as well as a look at the ages people should expect to retire at if all goes according to plan. One potential strategy is utilizing a Self-Directed IRA to maximize returns.
According to the post, most Americans "struggle to retire comfortably by their regular retirement age," which starts at an early retirement age of 62. A full retirement at age 66 is also common. But this can seem young, given the current lifespan numbers. So, hitting those retirement age goals should require "hard work, smart financial decisions, and some sacrifice," says the post.
One of the most important habits, according to the post, is establishing the habit of saving early. Writes the post: "If a 30-year-old saved $750 per month to reach the goal of retiring at 65, that monthly amount would have to more than double to have accumulated the same amount by age 55." That suggests that those who want to retire early also have to get an early start.
However, there are other things that people can do to enhance their chances of retiring. For example, the post notes that using a Self-Directed IRA to purchase real estate can use the tax benefits of an IRA while generating a source of extra income that goes towards retirement.
"There are lots of strategies of which retirement investors are not always aware," said Jim Hitt, CEO of American IRA. "Sure, it's important to start saving from an early age. But you also have to plan for retirement by maximizing your dollars from an early age, too. For older retirement investors, that means starting these new habits as soon as possible. Retirement age will be here before you know it, and that means you have to plan accordingly."
For more information on early retirement and Self-Directed IRA strategies for achieving early retirement, refer to the post at www.AmericanIRA.com. Interested parties may contact the Self-Directed IRA administration firm by calling 866-7500-IRA.
About:
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville and Charlotte, NC.
SOURCE: American IRA, LLC