Although it’s vital to make sure that you maintain boundaries between your Self-Directed IRA investments and your personal life, you can also be smart about it.
ATLANTA (PRWEB) October 28, 2017
When the New York Times recounted the story of William C. Brown, it was an example of how well a Self-Directed IRA could function when mixing community with business investments. But according to American IRA CEO Jim Hitt, this kind of mixing in the personal with the business can be troublesome for many who want to stick to regulations on the books that manage how Self-Directed IRAs should be handled.
Jim Hitt recently wrote an article at the American IRA blog that explained this concept. “Although it’s vital to make sure that you maintain boundaries between your Self-Directed IRA investments and your personal life, you can also be smart about it,” said Jim Hitt. The reason for Brown’s success, Jim Hitt argued, was that Brown understood the rules inside and out—and it was this knowledge that enabled him to balance both aspects of the investment.
“Not only did this man know how to invest, but he knew how to properly structure an investment,” said Jim Hitt. “That’s why, when it comes to the Self-Directed IRA, knowledge is power.”
Jim Hitt, who leads American IRA, a Self-Directed IRA Administration Firm in North Carolina, pointed out that it should be a priority for Self-Directed IRA investors to arm themselves with this knowledge. Doing so, Jim Hitt argued, would enable them to know which deals can work—and which ones to avoid.
“In general, it’s smart to be skeptical about deals that involve friends and family,” said Jim Hitt. “When not structured properly, they can lead to a lot of damage. And that damage can in turn hurt familial and friendly relationships. But that doesn’t mean that the government will always tell you Jim where to invest, either. There are rules in place—the better one knows the rules, the better one will do in keeping in line with them.”
For more information, visit http://www.AmericanIRA.com or call 866-7500-IRA.
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.