(PRWEB) March 01, 2012
Self-Directed IRAs have received a big public relations boost from Republican presidential front-runner Mitt Romney. According to various reports, Mitt’s IRA weighs in somewhere between $20 and $100 million. That's quite a retirement plan, and a great example of what every American can do with a Self-Directed IRA, according to Bill Humphrey, co-founder of New Direction IRA.
Many pundits say Mitt’s success is based on his investing knowledge, creativity, skill and the knowledge and skills of the associates in his personal network. But Humphrey wants America to realize that, unless the IRA is self-directed, all the knowledge in the world might not improve the retirement account's bottom line. According to Humphrey, because Mitt self-directed the investments within his self-directed IRA, (and those investments were highly successful), his account grew far faster than most non-self-directed IRAs. "Even though he had an unusual amount of success," said Humphrey, "he is still the perfect example of the power of a self-directed account, a power any IRA holder can harness."
Humphrey wants his clients and potential clients to know that, like Mitt, any American can take advantage of what and who they know to find rewarding options for their own IRA. Humphrey said, "The first step to being like Mitt, is to step back from the list of securities and mutual funds that your current IRA provider is offering and look at the whole world of investment possibilities."
Humphrey explained that self-directed IRA holders can invest in almost anything they are comfortable with. "The world is open to almost anything that is truly an investment." Self-directed IRA administrator New Direction IRA's website newdirectionira.com has an explanation of the more specific rules, including prohibited transactions and allowed investments.
Humphrey said, "We have seen many unique investments, from trees to real estate to precious metals, and almost everything in-between." The common thread among New Direction IRA clients, explained Humphrey, is that they take charge of their future. "And they take charge of their IRA." Humphrey explained that he and the staff most frequently hear two questions:
1) What is the best investment?
Humphrey said, "The answer is unique to you. What kind of investments do you know, what do your friends, associates, and acquaintances know, what investments can you learn more about. Do you know someone doing well with a unique investment? Go talk to them or educate yourself on how it works. Like Mitt, the most profitable investment might be one that not many people have access to or are even aware of. Go find it. It might be hard work, but your retirement is worth it."
2) How can I buy that in my IRA?
Humphrey said, "New Direction IRA is here to help with the process: Open your Self-Directed IRA; get money in it via contribution transfers or rollovers from existing plans. (Mitt moved his 401k assets to his IRA.) Then find that asset of your choice."
Humphrey said, "Self Direction is not for everyone, but via New Direction IRA, it is available for everyone from Mitt to you. If you are willing to take the responsibility for making it happen, or you have advisors or associates that can help, then your IRA could be like Mitt’s."
New Direction IRA teaches hundreds of free webinars and classes to educate 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 NewDirectionIRA.com.