Those who ask the right questions are those who tend to get the right answers for themselves.
ASHEVILLE, N.C. (PRWEB) May 29, 2019
Owning a Self-Directed IRA opens up a portfolio to plenty of retirement investing options, including alternative assets such as precious metals, real estate and even tax liens, but before someone plunges into the pool, they should dip their toes in the water first. That’s the advice of a recent post at American IRA, a Self-Directed IRA administration firm in North Carolina, which advised people to seek out a financial advisor with some specific questions about this retirement wealth-building strategy.
Questions—which include the total cost of the investment to be held in the Self-Directed IRA—should be pointed at the advisor to get a sense of how experienced they are in working with these styles of investments before. The post recommends asking questions like “How much experience do you have with this type of investment?” and “How often do you plan to meet with me?” These questions, according to the post, will not only evaluate an advisor’s experience but willingness to take on something that might include alternative asset classes.
An advisor should also have a strong knowledge of the tax implications of a Self-Directed IRA. For example, they should understand what a Self-Directed IRA can and cannot due, according to the tax code. For example, prohibited investments within a Self-Directed IRA are few, but they do include life insurance contracts, collectibles like alcoholic beverages or artwork, and subchapter S corporations.
“This article gets to the heart of what you should do as an investor,” said Jim Hitt, CEO of American IRA. “and by that, I mean, you should always ask questions. Be curious about a financial adviser. Learn about their approach to a Self-Directed IRA. Learn what you can do, and what an adviser’s experience might be. Be willing to engage them and to ask the tough questions. Those who ask the right questions are those who tend to get the right answers for themselves.”
The post also discussed what answers should look like to these specific questions, further guiding the reader to understanding the role of the financial adviser and the implications of holding a Self-Directed IRA.
The post can be found at http://www.AmericanIRA.com. Any further questions for American IRA can be directed to 866-7500-IRA.
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."