Because so many of today’s investors tend to stick to one asset class because they know it well and are comfortable with that asset class, retirement investors completely miss out on the benefits of portfolio diversification.
Charlotte, NC (PRWEB) October 07, 2016
When Self-Directed IRA investors manage their own retirement accounts, there are some common mistakes that they tend to make, according to a recent blog post by American IRA CEO Jim Hitt. According to Jim Hitt, however, these mistakes can easily be avoided when investors educate themselves and know what a Self-Directed IRA can do.
The first mistake, according to Jim Hitt, is overpaying in fees. Because investments tend to make only a certain percentage on average every year, every percentage point in fees cuts directly into the returns that retirement investors may be looking for. When this happens, investors find themselves disappointed in the lack of results, even when they were doing everything according to plan.
“One of the great advantages in doing your Self-Directed IRA investing with American IRA, LLC, is our transaction-based fee structure,” wrote Jim Hitt. “Rather than paying a percentage of assets under management each year, which can add up to thousands or even tens of thousands of dollars per year, we adopted a simple, straightforward fee-for-transactions.”
For those who want to handle a lot of transactions in their own retirement investment account, using a fee-for-transactions as a flat rate can help. For those who don’t make a lot of transactions and simply want to watch their investments grow over time as they continue to buy into their account, the savings can really add up, according to the blog post.
Another mistake, according to Jim Hitt: not diversifying properly with retirement investments. Because so many of today’s investors tend to stick to one asset class because they know it well and are comfortable with that asset class, retirement investors completely miss out on the benefits of portfolio diversification.
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