Lafayette, CO (PRWEB) April 15, 2009
New Direction IRA, Inc, a self-directed IRA/401(k) administrator, announced a new deal for the newly unemployed. "We want people to know that they have options for their retirement funds," said Catherine Wynne, President of New Direction. "If someone has just been laid off, they probably have a free 401(k) to rollover into a self-directed IRA, and for them, we'll waive the account opening fees."
Wynne reports that many of New Direction's 2600 clients have rolled their 401(k) from a previous employer, and have used the funds to invest in 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 also leverage 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," Wynne said.
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."
New Direction (newdirectionira.com) 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." Another popular investment lately has been gold. Wynne reported that many clients' IRAs have bought gold coins and gold bullion.
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.
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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