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Self-Directed IRA (SDIRA) - Alternative to Traditional IRA
For many typical Dorchester breadwinners, last week’s stock market gyrations undoubtedly revived feelings that had been largely absent for quite a while: retirement jitters. Nearly a quarter of working Americans own Individual Retirement Accounts—but since most IRAs’ values fluctuate considerably with the ups and downs of Wall Street, when major indexes officially enter correction territory (as the New York Times reported last Thursday), savers’ anxiety levels head toward redline territory.
That’s too bad because one of the principal purposes of saving for retirement is to create a secure feeling about the future. Even if the financial pundits seem undismayed by all the correction territory chitchat, those feelings can begin to evaporate.
All of this may seem unavoidable, but there is an alternative strategy that Dorchester retirement savers might want to check into. It’s a sort of do-it-yourself option that’s called a Self-Directed IRA (SDIRA). It is structured to allow withdrawals at a specified age—but differs from other IRAs in that it allows investments in a wide variety of diversified investment choices, including Dorchester real estate as well as private market securities and more. The tax advantages are like those enjoyed by traditional and Roth IRA accounts.
Since I am not a financial planner, ... more
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