Why a Self-Directed IRA is Best for Retirement

By | July 27, 2019

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(Last Updated On: August 6, 2019)

Today we have the pleasure of introducing a guest writer who has your retirement interests at heart. Rick Pendykoski specializes in retirement planning and has devoted more than 30 years to helping people plan financially for their retirement.

retirement

If you’ve been thinking of using your IRA to invest for retirement, Rick is the best person to talk to. He has been featured in numerous publications including NuWireInvestor and Business.com, just to name a few.

Thank you, Rick for sharing your expertise in helping us plan for our retirement using a self-directed IRA. By the end of this post, you’ll learn 5 reasons why a self-directed IRA is your best retirement investment option.

Over to you, Rick.

Saving for retirement is a constant worry and with so many investment plans on the market, it’s also downright overwhelming to choose what’s right for you.

While traditional IRA accounts and 401(k) plans are tax-advantaged vehicles that can be used to build wealth, they lack the financial freedom and flexibility needed to invest in a wide range of assets like real estate, precious metals or intellectual property.

5 Reasons a Self-Directed IRA is the Best Retirement Investment Option

Here are 5 more reasons to invest in a self-directed IRA:

#1 Complete Control Over Your Financial Future

It is your retirement, so who can decide how much to save and where to invest better than you?

With a self directed IRA, you can take complete charge of all your financial decisions.

It gives you the financial freedom to invest in assets you know best and the flexibility to choose whatever method works for you.

With a self directed IRA, the reins to your retirement are in your hand. So, you can invest in assets that offer exponential long-term growth and enjoy a comfortable retirement.

#2 More Investment Options with Higher Returns

Traditional IRAs restrict your investment options only to ETFs, mutual funds, stocks, and bonds.

With self directed IRA, investors can diversify their retirement savings portfolio and invest in what they know best – franchise options, private company stock or your own business!

Under the guidance of a SDIRA, you can choose from the approved investment alternatives and maximize your contributions without any restrictions.

With a diverse pool of assets to choose from, you are highly likely to reap rich rewards and secure your future.


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#3 Tax Benefits

A self-directed IRA has several potential tax benefits apart from a vast pool of investment options.

Account holders can also choose between a traditional IRA and a Roth IRA. A traditional IRA is a tax-deferred account where your savings can grow quickly and you are required to pay taxes only on withdrawals.

The Roth IRA is a tax-free account so your money keeps growing without you having to worry about the taxes.

While the former gives you a tax break immediately with faster growth, the latter lets you build a bigger nest egg without the need to pay taxes later. And with the freedom to invest in multiple assets, you can accrue wealth faster for a relaxed retirement.

 #4 Creates a Tax-advantaged Legacy

A self directed pension plan is one of the fastest growing retirement plans and it allows you to extend the potential returns, beyond your life.

An account holder can choose one or multiple beneficiaries that include spouse, children or charities.

Ideally, once you decide who you would like to inherit your legacy, all the cash and assets inside the account become tax-advantaged and can be distributed to the chosen beneficiary tax-free!

However, it is important to consult a financial advisor or a tax attorney to assist you with the estate planning and to help you navigate the regulations governing the creation of a tax-advantaged legacy.


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#5 Lets You Leverage the Multi-trillion-Dollar IRA Market for Maximum Returns

Business owners, real estate investors and those who have invested in assets outside their IRA can use their Roth IRA or 401(k) plan as an additional source of income for other investments or for their own business.

With trillions invested in IRAs across the country, there is tremendous capital that can be tapped to build a tax-advantaged retirement reserve.

Investors can work with a certified financial advisor to leverage this multi-trillion dollar market and do extraordinary things with their nest egg for themselves and for the community.

These 5 benefits are just a few of the many reasons to consider investing in a self directed IRA.

With multiple investment options, expert guidance, close monitoring, and tax benefits, you can take the ownership of your assets, tap endless growth opportunities and secure your financial future, faster.

 

Rick-PendykoskiRick Pendykoski is the owner of Self Directed Retirement Plans LLC, a retirement planning firm based in Goodyear, AZ. He has over three decades of experience working with investments and retirement planning. Over the last 10 years has turned his focus to self-directed accounts and alternative investments. Rick regularly posts helpful tips and articles on his blog at SD Retirement. You can also find his writing on Business.com, SAP, MoneyForLunch, Biggerpocket, SocialMediaToday, and NuWireInvestor. If you need help and guidance with traditional or alternative investments, email him at [email protected]

Wrap Up

We’ve certainly learnt a lot from Rick about using a self-directed IRA as an alternative investment for our retirement.

It doesn’t matter what stage of our life we’re at. The key point is to start thinking about your options as early as possible and make the right start.

Found this helpful? Share it to help others too! Thanks.

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