Our COO Aaron Halderman and I discuss transforming old employer 401k into a Self Directed IRA or 401K, navigating the intricacies of health and education savings, and choosing the right path between Roth and Traditional IRAs. Whether you’re looking to use existing retirement account money or start fresh with new contributions, we’ve got you covered. Join us as we break down the rules, discuss pain points, and provide practical steps to empower you to take control of your retirement. At Directed IRA, we assist clients in setting up 30-40 new accounts daily, and our goal is to make you experts in managing your financial future. Subscribe now for expert insights and success stories!
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Schedule a Free 15-minute new account phone appointment with one of our experienced Senior Account Executives regarding a Real Estate IRA or a Self-Directed IRA.

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LEARN MORE ABOUT: IRA Accounts

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If you are tired of the limited investment options and high fees associated with traditional IRAs and 401(k) plans, a self-directed IRA or 401(k) might be the right choice for you. With a self-directed account, you have the freedom to decide how and where to invest your retirement funds, allowing you to take control of your financial future.

Here are the steps to start a self-directed IRA or 401(k):

1. Research and understand the rules: Before you start a self-directed IRA or 401(k), it’s important to do your research and understand the rules and regulations associated with these accounts. Self-directed accounts allow you to invest in a wide range of assets, including real estate, private companies, precious metals, and more. However, there are strict rules and regulations that must be followed to avoid potential tax penalties.

2. Choose the right custodian or administrator: A self-directed IRA or 401(k) requires a custodian or administrator to hold and manage the assets on your behalf. It’s crucial to choose a reputable and experienced company that specializes in self-directed accounts. Make sure to research different custodians and consider factors such as fees, customer service, and investment options before making a decision.

3. Open the account: Once you have chosen a custodian, you will need to open a self-directed IRA or 401(k) account. This process typically involves filling out an application, providing identification and personal information, and funding the account with a rollover from an existing retirement plan or a contribution.

4. Educate yourself: With a self-directed account, you have the flexibility to invest in a wide range of assets, but it’s important to educate yourself about the potential risks and rewards associated with each investment. Take the time to research and understand different asset classes, and consider seeking advice from financial professionals if needed.

5. Make investments: Once your self-directed account is open and funded, you can start making investments according to your chosen assets. Be mindful of the rules and regulations associated with self-directed accounts, and ensure that all investments are compliant to avoid potential penalties.

6. Stay informed and proactive: A self-directed IRA or 401(k) requires active management and ongoing due diligence. Stay informed about the performance of your investments and be proactive in making adjustments to your portfolio as needed. Regularly review your investment strategies and consider seeking advice from financial professionals to ensure that your retirement funds are being managed effectively.

In conclusion, starting a self-directed IRA or 401(k) can offer you the freedom and flexibility to diversify your retirement portfolio and take control of your financial future. However, it’s important to research and understand the rules, choose the right custodian, educate yourself about investments, and stay proactive in managing your account. With careful planning and diligent management, a self-directed account can be a valuable tool for building wealth and securing your retirement.