American IRA CEO Explains What Self-Directed IRA Owners Should Do Right Before Retirement

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Retirement tips are often about saving, but in a recent post at American IRA, Jim Hitt explained how Self-Directed IRA owners can get the most out of their retirement by handling the “landing” process right the first time.

American IRA CEO

American IRA CEO, Jim Hitt

The realities of the 2008-2010 stock market, pointing out that a Self-Directed IRA holder should take the proper steps to reduce exposure to the markets and diversify risk.

The flight isn’t always about the time in the air, but about sticking the landing. That was the sentiment from American IRA CEO Jim Hitt, who recently took to the American IRA blog to explain how those who own a Self-Directed IRA should handle their finances right before retirement. This post on “sticking the landing” included tips and advice specifically aimed at those who self-direct their own IRA account.

In the first tip, Jim Hitt explained the importance of rolling back risk exposure. As retirees approach retirement age, their tolerance for risk decreases. This is due to the fluctuations in the economy. In the long-term future, these fluctuations aren’t very threatening. But for those thinking about short-term retirement, a sudden loss of value can have a dramatic impact.

That’s why Jim Hitt pointed out the realities of the 2008-2010 stock market, pointing out that a Self-Directed IRA holder should take the proper steps to reduce exposure to the markets and diversify risk. This approach to risk helps hedge against stock market losses, securing the retirement nest egg for the short-term future.

In another tip, Jim Hitt explained the importance of enrolling in Medicare. The open enrollment period for Medicare—once retirees have reached a certain age—is vital for taking one of the major expenses and risks off the table. This not only helps boost confidence for the short-term future when it comes to retirement, but, when missed, can represent one of the biggest mistakes of omission that new retirees make.

“My goal with this post was to point out that the retirement process isn’t all about the beginning,” said Jim Hitt. “It’s great to start early and build as much wealth as possible. But it’s also about sticking the landing. In this post, I shared some of the most important tips that those—especially investors with a Self-Directed IRA—can do to maximize their chances of living the retirement they dreamed of.”
Other tips dealt with realities of retirement such as life insurance coverage, social security benefits, and the advantages of using a Self-Directed IRA to take control of one’s finances.

For more information, visit the blog at http://www.AmericanIRA.com or call 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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