Lafayette, CO (PRWEB) June 23, 2008
Lafayette, CO, June 16, 2008 - Entrust New Direction IRA, Inc, a self-directed IRA/401(k) administrator for the Rocky Mountain region, announced self-directed account funds totaling over $200 Million today. "The increase this year has been pretty drastic," says Catherine Wynne, President of Entrust New Direction IRA, Inc. "It could be the stock market's volatility, or maybe all the talk about how long social security will last, but many people are opening self-directed retirement accounts."
Wynne reports that Entrust New Direction's 2,600 clients are using their self-directed IRAs to purchase various forms of real estate, business franchises and pre-IPO shares as well as the more standard retirement fund fare of stocks, bonds and mutual funds. Many of these clients are also leveraging their IRA funds to purchase real estate. "Thanks to several national and local banks offering real estate IRA loans, people are able to buy a lot more than they thought they could."
Although the average account is approximately $75,000 according to Wynne, self-directed retirement accounts are not just for millionaires. "Some clients have as little as a few thousand dollars in their accounts, and they've found investment opportunities. It's more about what the client invests in than how much they have to invest," explains Wynne. "We always tell our clients to invest in what you know."
Entrust New Direction sees many clients taking advantage of lowered interest rates and the many foreclosures on the market. "With the stock market the way it's been, people love the flexibility of what some call a Real Estate IRA."
The self-directed IRA is not limited to real estate, however. Wynne reports that clients have also used their IRAs to fund personal loans. "If someone you know is paying 15% interest to a credit card company, and your IRA can offer them a loan with 10% interest, you're both happy."
Entrust New Direction IRA offers a variety of classes aimed at educating new and experienced real estate investors and real estate professionals, so even a person with a small IRA fund can make big money for their IRA.
Entrust New Direction IRA, Inc., a self-directed IRA plan administrator, also offers self-directed Health Savings Accounts and can be reached at 303-546-7930 or toll free at 877-742-1270. Visit their website at http://www.NewDirectionIRA.com.
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