Jim Hitt Explains a Factor that Every Self-Directed IRA Owner Needs to Know

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An owner of a Self-Directed IRA is looking for an advantage to help build a retirement nest egg. To support that goal, American IRA CEO Jim Hitt recently took to the American IRA blog to explain a key factor in the success of these accounts.

American IRA CEO

American IRA CEO, Jim Hitt

While the Self-Directed IRA is a great vehicle for investing and maximizing the investment dollar put away for retirement, those protections only matter if money is put into the account in the first place.

The world of the Self-Directed IRA can sometimes be difficult for investors to follow, fraught with all sorts of limitations, penalties, and complications. But American IRA CEO Jim Hitt—who is used to making these account types sound accessible—recently took to the American IRA blog to explain one factor that Jim Hitt believes is essential to the success of every Self-Directed IRA investor.

According to the post, that factor is savings rate. With a recent post at CNBC pointing out that the majority of Americans have less than $1,000 in their savings accounts, Jim Hitt thought it appropriate to get “back to basics” when it comes to the Self-Directed IRA and focus on this one factor that seems to influence success more than any other.

“When you look at the numbers, you notice just how terrible shape many American investors seem to be in,” says Jim Hitt. “The fact that so many Americans have trouble coming up with even $400 for an emergency or trouble building even $1,000 in an emergency savings fund says a lot about where we put our priorities. And, simply put, too many people are living paycheck-to-paycheck. And while there are a number of factors that push Americans this way, the simple truth for more investors is that they need to make retirement a priority.”

Jim Hitt pointed out that while the Self-Directed IRA is a great vehicle for investing and maximizing the investment dollar put away for retirement, those protections only matter if money is put into the account in the first place. That’s why Jim Hitt believes that savings rate is one of the chief factors that determines the success of retirement investors utilizing a Self-Directed IRA.

“Some people have to use budgets in order to enforce financial discipline on themselves,” says Jim Hitt. “For others, it comes more naturally. But no matter what investors might be like, the most important factor in their success will always be in how they make retirement a priority—or if they don’t.”

For more information on savings rate and its impact on the Self-Directed IRA, see the blog at http://www.AmericanIRA.com. Interest parties can contact the Self-Directed IRA administration firm at 866-7500-IRA.

About:

American IRA, LLC was established in 2004 by James C. Hitt in Asheville, NC.

The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Mr. Hitt and his team have grown the company to over $250 million in assets under administration by educating 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.

As a self-directed IRA administrator they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville, NC.

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Sean McKay
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