ASHEVILLE, NC / ACCESSWIRE / July 1, 2020 / What are the myths about Self-Directed IRAs that investors will want debunked? That was the subject of a recent post at American IRA, a Self-Directed IRA administration firm. The firm took to its blog to explore some of the most prevailing myths about Self-Directed IRAs, while also simultaneously debunking this myth with their own responses.
For example, one myth out there is that the Self-Directed IRA's nontraditional retirement investments are not legal within a Self-Directed IRA. This is not true. The IRS clearly outlines which assets are not to be held within a retirement account-such as collectibles, art, and fine wines. But these restrictions apply to all IRAs, not just Self-Directed IRAs; these are regulations that retirement investors in the U.S. always share.
Additionally, American IRA looked into the myths about the tremendous power that investors can have with a Self-Directed IRA. But the post detailed how a Self-Directed IRA is actually a straightforward, flexible way to plan for retirement; the same restrictions apply, but with more freedom for the investor to choose the investments that make up their retirement portfolio.
"When most people use a traditional method for retirement, such as a company 401(k), we find that there get to be some myths about the less-traditional methods," said Jim Hitt, CEO of American IRA. "The goal with this type of post is to point out those myths and clear the air for anyone considering a Self-Directed IRA."
In the post, American IRA went on to detail both sides of the equation, explaining how myths can be both positive and negative about Self-Directed IRAs-and not be quite accurate. For more information about these myths, and the facts about Self-Directed IRAs, visit the blog at www.AmericanIRA.com. Interested parties can also contact American IRA by dialing 866-7500-IRA.
"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