CHARLOTTE, N.C., Nov. 12, 2018 /PRNewswire-PRWeb/ -- While Self-Directed IRA investing makes sense to many employed individuals thanks to their ability to help diversify out of stocks and funds and into alternative investments like real estate and precious metals, Self-Employed individuals often find themselves facing a unique challenge. How can freelancers and business owners create Self-Directed IRAs that will make as much sense?
As it turns out, it might be easier than most investors imagine. A recent post at American IRA highlights the different types of accounts that Self-Employed individuals can use, such as a Self-Directed Solo 401(K) or a Self-Directed SEP IRA (Simplified Employee Pension).
According to the post, "these plans are most efficient for the Self-Employed or for those with 'mom and pop' businesses with no full-time employees other than a spouse." Self-Employed individuals may think of them as company plans—but for small companies without certain employees. This makes the accounts ideal for freelancers and contractors as well.
"It is entirely possible for someone who is Self-Employed to fund a great retirement plan for themselves," said Jim Hitt, CEO of American IRA. "These accounts are very flexible—and many come with tax advantages such as tax deferral, which frees up more money for someone who is living on an inconsistent income. That makes them great vehicles for not only saving money in the long-term, but for immediate use as well."
The article further highlighted how accounts like Self-Directed Solo 401(K)s can be used with high contributions to allow Self-Employed individuals a wide range of freedom. Not only do these accounts come with high contribution limits, but the wide variety of assets possible through self-direction can offer a wide breadth of assets as well.
Investors who want to put retirement money in real estate, private equity, and even precious metals might look into these specific accounts for their specific Self-Employment retirement needs.
For more information, visit http://www.AmericanIRA.com or call 866-7500-IRA.
About:
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC. The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 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 and Charlotte, NC."
SOURCE American IRA, LLC
Share this article