IRA – Individual Retirement Accounts
The traditional IRA has both advantages and disadvantages. Determining the right IRA for you and your family members is often dependent on a number of influential factors. There is no one-size fits all solution. Here are some things taken into consideration when determining whether or not you wish to start a traditional vs. a Roth IRA.
- Income level
- Age and years to retirement
- Tax considerations and tax benefits
- Distribution penalties and implications
While a Roth IRA is often thought of as more advantageous than a traditional IRA, there are certainly instances where rolling over your retirement funds to a Roth may not make sense.
Roth IRAs have certain restrictions and limitations just like traditional IRAs including annual caps on contributions and income limitations. For high income individuals where a Roth IRA may be out of your reach, you may want to consider rolling over to a Roth from a traditional IRA. When considering the advantages of a Roth IRA, you also need to pay close attention to costs, including:
- Tax implications
- Rollover fees
- Income levels
- Distribution expectations
Unlike standard IRAs, Self-Directed accounts are structured in such a way that you have more control over what happens with the funds within your account. That is, you’ll be more free to invest in things like:
- Real estate
- Tax liens
- Foreign exchange trading
- Precious metals
- Private companies
Gaining checkbook access to your personal IRA LLC means you now have an expanded ability over what you can invest in.
Replace Your Income
Retirement does not have to mean taking drastic reductions in your standard of living, but it does require a detail-oriented approach to risk and return. We help to get you there.
Taking control of your retirement funds for investing in anything from precious metals to real estate and property. Managing your own investments is not rocket science, it’s common sense. Find out how
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Contact an qualified advisor to help put you on a safer and more secure path toward for retirement. It’s never too late to begin. Reach out to one of our qualified representatives today.