Our goal with this post was to highlight the fact that investors can continue contributing to a company-provided 401(k) without closing themselves off to the alternative options available when an investor seeks to open their own sort of account.
CHARLOTTE, N.C. (PRWEB) March 30, 2019
Can investors hold both a 401(k) through work and a Self-Directed IRA at the same time? It’s a surprisingly common concern, recently addressed at the blog of American IRA, a Self-Directed IRA administration firm based in North Carolina.
According to the post, anyone with a 401(k) plan through their employer typically has some complaints about the limited amount of investment choices they have to make. For example, some of these plans may only offer a few mutual funds and a money market account - and these mutual funds often have associated fees or “loads” that are taken out of the time of purchase in a practice known as front-loading. These frustrations add up and an investor is left wondering how they are supposed to set aside any meaningful amount of money for retirement.
The post at American IRA suggests an alternative: adding a Self-Directed IRA to the retirement portfolio. A Self-Directed IRA opens the possibility of investing in wide range of stocks, private stocks, mutual funds, exchange-traded funds (ETFs), as well as alternative investments such as real estate, tax liens, private lending notes, and even precious metals.
While many investors might enjoy this freedom, one common mental block comes in the form of doubt. Is it possible to hold a 401(k) through an employer as well as a Self-Directed IRA? It is indeed possible; in fact, the post notes, many investing experts often recommend maxing out both types of accounts in order to set aside as much money for retirement as possible.
“When you expand beyond the realm of the company-provided retirement plan, you realize that your options are not so limited,” notes Jim Hitt, CEO of American IRA. “Our goal with this post was to highlight the fact that investors can continue contributing to a company-provided 401(k) without closing themselves off to the alternative options available when an investor seeks to open their own sort of account.”
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.