Jim Hitt Responds to Time Magazine Article, Explaining How to “Supercharge” a Self-Directed IRA
Atlanta, GA (PRWEB) October 29, 2016 -- When a recent article in Time Magazine highlighted how “supersavers” are sometimes saving as much as 20% of their income, it opened the minds of many to the realities of what it takes to retire comfortably in 21st century America. Now Jim Hitt, the CEO of Self-Directed IRA administration firm American IRA in Asheville, NC, is telling investors how they can “supercharge” their retirement by directing their own IRA.
With an article posted at http://www.americanira.com/home-links/supercharge-self-directed-ira/, Jim Hitt quoted a survey by Fidelity that found the average retirement savings is about 8.2 percent. In the article, Jim Hitt writes, “Unless the investor is getting some substantially above-market returns, that’s not enough to replace the bulk of a Self-Directed IRA owner’s pre-retirement income, on an inflation-adjusted basis.”
Why are prospects so bleak for investors? Beating the stock market is one issue, as steady growth has been important for many investors but not enough to justify an all-in approach to the stock market. There are alternatives for investing, Jim Hitt notes, that allow people to diversify their asset classes as well as try investments like real estate.
Supercharging one’s retirement usually requires certain habits, however. Jim Hitt notes that those savers who put their IRA on “autopilot” with automatic contributions tend to have more success in saving—it’s much easier to put money away when savers hardly notice that it’s gone in the first place. This eliminates the possibility of temptation, especially when a household is on a written budget. The fact that the money comes out of a paycheck or a checking account automatically helps people “mentally” put that money away.
Directing one’s own retirement account is a new concept for some, Jim Hitt accepts, but he believes that more and more people are coming around to this way of retiring. “People want to get more for their money these days,” Jim Hitt says. “If you’re going to save aggressively, you want some say in where that money goes.”
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Sean McKay, American IRA, LLC, http://www.americanira.com, +1 (828) 257-4949, [email protected]
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