ASHEVILLE, NC / ACCESSWIRE / March 18, 2020 / How many investors in the U.S. could benefit from a Self-Directed IRA? The truth is that it's hard to quantify, but a recent post at American IRA-a Self-Directed IRA administration firm-attempted to do just that. Using statistics from a 2019 Vanguard report and Investopedia, the post pointed out that about half the population has "no workplace savings vehicle of any kind in 2019." That means that a significant portion of the population could use a retirement account under any type of arrangement, if only to boost the amount of money they routinely save.
The post went on to detail the mean retirement savings of working households before retirement age. The mean number was surprisingly low, especially in a country with so many baby boomers headed for retirement. One thing is clear, notes the post: there are more people who need to invest in any sort of retirement vehicle. The Self-Directed IRA is one such option.
The post then details how a Self-Directed IRA in particular might help more Americans retire. Reasons such as the ability to take an account with them no matter where they work, as well as the tax protections afforded to investors through a Self-Directed IRA, added up to more potential retirement savings for any American who lacks these savings. The post also pointed out that a Self-Directed IRA can help retirement investors through increased diversification, which is essential for managing risk.
"There are a lot of reasons a Self-Directed IRA might benefit a retirement investor," said Jim Hitt, CEO of American IRA. "But one thing is clear when you review the numbers: most people just need to get started. They don't have to do anything fancy. They just have to open an account through the proper channels and get started saving."
Unfortunately, notes the post, too few Americans are doing that-and it shows up in the retirement numbers.
For more information, visit American IRA at www.AmericanIRA.com. The site features calculators to help retirement investors figure out where their current status is pointing them. Interested parties may also contact the Self-Directed IRA administration firm at 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 and Atlanta, GA."
SOURCE: American IRA, LLC