Retire on Your Terms Using a Self-Directed IRA

Thinking about retirement is important. Saving for retirement is even more so. Will you outlive your income? Will you be able to afford health care when you retire, if you get sick? Will your children and family have to care for you should you be unable to care for yourself? These worries are based in reality now that Americans are living longer, pensions are dwindling, and Social Security hangs in the balance. If you’re concerned about any of these things—you are not alone. However, rest assured, you do have options.

At Advanta IRA we realize the many concerns you may have about retirement planning and are here to help. No matter what your age or challenge, now is the perfect time to think seriously about your retirement goalsRetire Using a Self-Directed IRA and to take action to help you reach those goals. The earlier you begin planning and saving, the easier it is to retire comfortably, on your own terms.

Take control of your retirement funds and investing decisions.

Individuals who want more control of their retirement planning are turning toward the growing movement of self-directed retirement plans. Unlike typical retirement accounts that use assets like stocks, bonds, and mutual funds, self-directed IRA plans allow you to make your own decisions based on investments you know and understand. Investing in what you know best can potentially help you build wealth at a faster pace than traditional investment methods.

Advanta IRA offers numerous self-directed plans including the traditional IRA, 401(k), Roth IRA, SEP IRA and more.

You can even self-direct your HSA or education savings accounts. This puts you in control and able to choose a wide array of investment such as real estate, trust deeds, gold, private placements, and single-member LLCs, and so much more. The only assets not permitted in self-directed accounts are life insurance contracts and collectibles.

The deal with a self-directed IRA is that you get to invest in what you know best.

If you have knowledge about real estate investing or gold, farmland, or oil and gas, or even running a business—now may be the time to consider putting your expertise to work in a self-directed retirement plan. And, there are a plethora of other alternative assets you can choose to build that wealth.

So, if you prefer not to depend on someone else to make investment decisions for you, you do have the option to make smart investments based on what you personally know and understand.

We know saving money isn’t easy. We also know that saving for retirement is critical. So, whether you decide to self-direct a retirement plan or not, today is the perfect time to develop a solid strategy to secure your future.

Below are a few ideas to help you become focused and motivated to secure a successful future.

Retirement saving tips:

  • Record your expenses. Keep track of your spending. And, yes, we mean every dinner out, coffee, groceries, bills…and everything else. You can use your credit card and bank statements to help you with this.
  • Make a budget. Knowing what you spend each month is the first step to creating a budget. Then, you can plan your spending and eliminate overspending.
  • Plan on saving. Make saving part of your budget. Saving 10-15 percent of your income is ideal. If this isn’t doable, you may want to cut back on spending.
  • Have short and long-term savings goals. Short term (1-3 years): a car, vacation, or emergency fund. Long term (4+ years): a down payment for a home, college, or retirement.
  • Choose a clever saving method. Having a retirement account is the first step. Direct deposits from your paycheck and automatic transfers from your bank account allow you to save without having to think about it.
  • Choose retirement plans and investments wisely. Obviously, look for investment opportunities with the best potential of building wealth. There are plenty of retirement accounts available to facilitate your goals, but if you want the ability to control your own investing decisions—we urge you to explore the diverse options permissible only in self-directed IRAs.

Advanta IRA strives to inform all individuals of the importance of saving, and of the many different options available to help you save. While self-direction is an option, it’s more crucial that you begin saving for retirement in any way that best suits your current situation and future goals.

You can find additional tips here, which will help you whether you choose to self-direct your retirement plan or not.

If Advanta IRA can assist you, please let us know.

Advanta IRA is a self-directed retirement plan administrator serving clients across the nation who hold over $800M in assets. Self-directed IRAs and other plans allow account owners to take total control over their investing funds and decisions, to take actions to retire on their own terms.

Advanta IRA offers empowering education for clients and investors who want to discover the potential self-direction presents. These webinars and seminars are free, and also cover the many diverse assets permissible in self-directed plans. Find one that interests you and sign up today.

To learn more about how you can take control and add diversity to your portfolio using alternative investments, schedule a free consultation with one of our self-directed IRA specialists.