We are back this month with the age old question! When it comes to Self-Directed Retirement Accounts, what are the differences between an IRA, and a “Self-Directed” IRA? Turn off the trash tv and tune in with David Moore & Tina Colson of IRA Advantage, as they discuss IRA’s and what to do with yours today.

WEBSITE
———–

SOCIAL MEDIA
—————–
Linkedin:
Facebook:
Twitter:
Instagram:
Youtube:

LATEST NEWS FROM IRA ADVANTAGE
———————-

Disclaimer: All my opinions are my own. These statements are not meant to be taken as investment advice….(read more)

LEARN MORE ABOUT: IRA Accounts

TRANSFER IRA TO GOLD: Gold IRA Account

TRANSFER IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

Individual Retirement Accounts (IRAs) have long been a popular choice for individuals looking to save for retirement. However, not all IRAs are created equal, and there are some key differences between traditional IRAs and self-directed IRAs that individuals should be aware of.

A traditional IRA is a retirement account that is set up and managed by a financial institution, such as a bank or brokerage firm. These accounts typically offer a range of investment options, such as stocks, bonds, and mutual funds. Contributions to traditional IRAs are often tax-deductible, and earnings within the account grow tax-deferred until withdrawals are made in retirement.

On the other hand, a self-directed IRA is a retirement account that offers a wider range of investment options beyond the traditional choices. With a self-directed IRA, individuals have the ability to invest in alternative assets such as real estate, precious metals, private equity, and more. These accounts are not limited to the investments offered by a financial institution, giving individuals more control over their retirement savings.

One of the key differences between traditional IRAs and self-directed IRAs is the level of control and flexibility that individuals have over their investments. With a traditional IRA, individuals are typically limited to the investment options offered by their financial institution. In contrast, self-directed IRAs allow individuals to invest in a wider range of assets, giving them more control over their retirement savings.

Another key difference between traditional IRAs and self-directed IRAs is the level of risk involved. While traditional IRAs typically offer a range of diversified investment options, self-directed IRAs can involve higher risk investments, such as real estate or private equity. Individuals who choose to invest in these assets should be prepared for the potential risks and fluctuations in value that can come with these types of investments.

Additionally, self-directed IRAs often come with higher fees and more complex rules and regulations compared to traditional IRAs. Individuals considering a self-directed IRA should carefully research and understand the investment options available to them, as well as the associated fees and risks involved.

In conclusion, traditional IRAs and self-directed IRAs offer different levels of control, flexibility, and risk when it comes to saving for retirement. Individuals should carefully consider their investment goals and risk tolerance before choosing between the two options. While traditional IRAs offer a more straightforward approach to retirement savings, self-directed IRAs provide individuals with more control and potential for higher returns through a wider range of investment options. Ultimately, the best choice will depend on individual preferences and financial goals.