Self-Directed IRA Administration CEO Responds to Claims That Retirement Is for the Privileged Few

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Jim Hitt, the CEO of Asheville-based American IRA, a Self-Directed IRA Administration Firm, has taken exception with a recent claim that retirement may only be for the “privileged few.

American IRA CEO

American IRA CEO, Jim Hitt

What few people tell you these days is that retirement isn’t something that happens to you. Instead, retirement is a decision that you must make at some point in your life. It’s a plan that you have to carry out.

A recent article featured in Newsmax (“Easy Retirement? Only for a Privileged Few”), a part of the Divided America series, raised the controversial notion that retirement is no longer part of the American dream, but a “privilege” that only a few can enjoy. Jim Hitt, the CEO of Self-Directed IRA administration firm American IRA, recently took exception to this notion.

“What few people tell you these days is that retirement isn’t something that happens to you,” said Jim Hitt. “Instead, retirement is a decision that you must make at some point in your life. It’s a plan that you have to carry out. Although the Federal government includes programs like Social Security to make retirement easier for many, that doesn’t mean you’re excluded from your share of the work.”

According to the article on Newsmax, experts are pointing out the fact that people aren’t saving enough to enjoy the same lifestyle in retirement that they enjoy while working. They called a “typical amount” of savings for most households just $73,200, or about 15 months of the median household income. Even with reduced spending during retirement, that amount of money can rarely be expected to last for more than two years of retirement.

“It’s true that there are a lot of economic factors out there that make saving more difficult,” said Jim Hitt. Jim pointed to increased healthcare costs and stagnant wages as nationwide factors that have made saving for retirement a greater challenge in the 21st century. But Jim Hitt was quick to point out that there are other ways of maximizing a retirement dollar, especially when one directs their own IRA.

“With a Self-Directed IRA, we frequently see retirement investors take hold of their finances like never before,” said Jim Hitt. “They’re able to use these tax-advantaged accounts to improve their returns and enter in exciting new ventures in real estate. If only more people knew about the options available to them, we might not see such discouraging retirement numbers.”

About American IRA, LLC:

Click here to claim one of our 7 Self-Directed IRA guide(s).

American IRA is committed to providing every client with gold-level service, regardless of account size. Experience their expertise through their certified IRA services professionals. Enjoy the value with one low annual fee of $285 with unlimited assets and unlimited account values. American IRA clients love the benefit of no charge for "All Cash" accounts. The performance of the American IRA staff is unmatched, with quick and efficient processing within 48 hours.

American IRA services thousands of clients and has over $300 million in assets under administration.

American IRA was built by investors for investors, and brings their successful investment experience to the table, providing excellent educational material showing the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.

American IRA is conveniently located in Asheville, NC and Charlotte, NC, and serves clients nationwide.

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Sean McKay
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