ASHEVILLE, NC / ACCESSWIRE / January 6, 2021 / What happens when an investor is interested in a Self-Directed IRA plan but does not know how to go about the process of opening one? That is when a step-by-step guide can help, argues a recent post at American IRA, a Self-Directed IRA administration firm based in Asheville, North Carolina. According to the post, there may be three essential steps for retirement investors to consider as they weigh the different types of accounts available for self-direction.
Among these steps, American IRA argues, is the investor figuring out a retirement strategy. The strategy for retirement will have a major impact on which account type may suit the investor best. For example, a Roth IRA is an ideal account for investors who want to continue to grow an account after official retirement age, as a Roth IRA uses after-tax money. This means that the IRS allows investors to take no required minimum distributions after retirement age-the money in the account can continue to grow. This example, argues the post, is one reason why investors should consider individual plans before picking the best Self-Directed IRA.
The post also pointed out that there are multiple options available. In some cases, a Self-Directed SEP-IRA may make sense for an individual investor. In other cases, a Self-Directed Solo 401(k) may be ideal. There are different circumstances-such as the investor's work situation-which can also have bearing on the decision as to which Self-Directed IRA plan to use.
"It's important for investors to know that this process doesn't have to be intimidating," said Jim Hitt, CEO of American IRA. "The process might seem alien to investors who are new to Self-Directing. But the truth is, once you break it down into a few simple steps, you will realize that it's just like anything else. It's important to take it one step at a time, consider the best strategies for an investor's individual situation, and then move forward."
The post includes three basic steps for investors considering a Self-Directed IRA plan. For more information, visit the post at www.AmericanIRA.com. Interested parties may also contact the Self-Directed IRA administration firm by dialing 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