How should I approach a friend of mine that wants to invest their money held in an IRA and 401K retirement plan in what I'm creating? I am not a financial advisor and I want to ensure that what I provide to them is the best approach. If they speak with their financial advisor where the funds are held, they will most likely persuade them to keep their funds with them. What should I tell them?
We have experienced this with our financial advisor. I think it depends on your friend's goals and risk tolerance.
Obvious we are real estate heavy and I'm not happy with the returns in the stock market. When it came down to it you are able to get the best returns with your Self-directed IRA if you USE it. We have Equity Trust. We were able to take our Self Directed IRAs (SDIRA) from $1000 to $50,000 in one year. You can't do that in the stock market! But the key is to actively USE it. If you treat it like a mutual fund and NOT use it, you may not get the returns you are looking for.
We have used ours to lend out money to others, option properties, buy properties, etc. If you want to know how we did it, let me know. I must warn you that there are A LOT of restrictions and you don't want to risk doing a wrong move! It's a great way to build your retirement!
It goes back to your friend's goals and objectives as well as risk tolerance. I'm all for REAL ESTATE..so I'm a little biased ;)
I hope that helps!
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