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Discover the power of Self-Directed IRAs and alternative investments in our comprehensive guide. Download your free e-book for financial emp
Unlocking Financial Freedom: The Advantages of Self-Directed IRAs
As investors navigate the complex landscape of retirement planning, the advantages of Self-Directed IRAs become increasingly apparent. From diversification beyond traditional assets to greater control, potential for higher returns, and strategic tax benefits, SDIRAs offer a versatile and powerful tool for those seeking to take charge of their financial destiny.
How do I open a Self-directed IRA?
Opening a SDIRA is pretty simple. All you need to know is which account type will suit you and fulfill your financial needs. You can choose from Roth, Traditional, SEP, SIMPLE, and other types of Self-directed IRAs. Each one of these will lead you to greener pastures post-retirement and offer you tax benefits at one fell swoop. You can open a Self-directed IRA in the following steps:
Select the account type on reliable companies like Quest Trust Company.
Then mail/fax/email your completed paperwork to their office.
You can now add funds to your Account as it hardly takes a day or two in this process.
You can fund the Account with rollover, transfer, or contribution too.
Navigate your investments and build a process direction.
American IRA Explains the Good and Bad News in Self-Directed Real Estate IRAs and Longevity
New Post has been published on https://is.gd/HesW9Z
American IRA Explains the Good and Bad News in Self-Directed Real Estate IRAs and Longevity
Asheville, NC/ May 05, 2018 (STLRealEstate.News) — The good news about living a long life is that you lived a long life. For some, that can also be the bad news.
A recent American IRA post identified Real Estate IRAs as ideal retirement vehicles for enduring longevity throughout retirement. Funding a long-term retirement can be a major challenge for those who live longer, which in turn turns the blessing of a long life into a curse of financial worry.
Quoting a recent study of British senior citizens, the post at American IRA found that people in their 50s and 60s are underestimating the likelihood they will live to ages 75, 85, and even well beyond by 20 percentage points. That sounds like good news for aspiring retirees, but it can also present challenges when it comes to long-term financial security and care. It could also mean pessimistic retirees who put aside too little for retirement may end up having plenty of time to regret it.
According to American IRA, the value of Self-Directed IRAs is they can provide the tax-protected umbrella that helps sustain a long-term income for retirement. Because of the nature of real estate investments—in which rent is collected every month—these investments can be highly advantageous and hands-off for retirees, even those well into their 80s.
Self-Directed IRAs can also be advantageous for those investors who have catching up to do with their retirement. A Real Estate IRA still allows for leveraged investments through the use of non-recourse loans, allowing investors broad purchasing power.
According to the article at American IRA, many lenders are willing to foot 65% of initial purchase prices for real estate investments. There was a warning, however, as the blog noted: “You should be aware of the impact of unrelated debt-financed income tax, however, which may result in a current tax liability for gains attributable to borrowed money, rather than your own contributions to your retirement fund. “
For more information on understanding the challenges of longevity and what aspiring retirees can do to mitigate these concerns with a Self-Directed IRA, visit the blog at http://www.AmericanIRA.com or call 866-7500-IRA.
“About: 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.”
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SOURCE: American IRA, LLC/PRWeb.com
How Self-Directed IRAs Might Help Baby Boomers with “Inadequate” Retirement Savings
New Post has been published on https://goo.gl/UUqNv4
How Self-Directed IRAs Might Help Baby Boomers with “Inadequate” Retirement Savings
APRIL 25, 2018 (STLRealEstate.News) — As baby boomers approach retirement age, the time to grow investments in the stock market dwindle further and further. This could mean challenging times for those baby boomers who have not been able to build up a significant investment over their lifetimes due to lack of savings. But as a recent post at American IRA points out, there may be some ways for baby boomers to “catch up” and grow their retirement savings quickly.
As the post reported, only about 1 in 3 baby boomers has $250,000 or more in retirement assets saved up. That means a full two-thirds of baby boomers may not have adequate retirement savings to live comfortably without assistance in their twilight years. Many of these habits have rubbed off on Generation X, with about 4 in 10 not having enough money saved up for retirement.
Self-Directed IRAs, however, can offer both Generation Xers and baby boomers some options. For example, notes the post, Self-Directed IRAs allow individuals age 50 and older to put $1,000 away each year in Roth IRA and Traditional IRA contributions, a “catch-up” phase that gives older generations a leg up over younger investors, for whom the limits may be only $5,500. However, it is important to note there may be limits on these contributions based on income levels.
Catch-up contribution limits also apply to 401(k) accounts including Self-Directed 401(k) accounts. As of 2018, according to the post, those of age 50 and older can contribute an additional $6,000 per year to their employee-sponsored Self-Directed 401(k) plans. As baby boomers and Gen Xers alike grow in income over the years, they can use these catch-up contributions to place more of that income into retirement without feeling the “pinch” that might come with higher contributions at lower incomes.
Diversification also helps investors build up value despite the swings of the stock market. For example, a well-placed Real Estate IRA investment can yield tremendous amounts of money even while the stock market is especially volatile.
For more information about catch-up contributions and Self-Directed IRA investing beyond 50, visit http://www.AmericanIRA.com or call 866-7500-IRA.
“About: 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.”
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SOURCE: news provided by STL.Properties via PRWeb.com – published on STL.NEWS by St. Louis Media, LLC (PS)
Jim Hitt Clarifies Contribution Limits for Self-Directed IRAs
New Post has been published on https://goo.gl/xBTWSQ
Jim Hitt Clarifies Contribution Limits for Self-Directed IRAs
APRIL 23, 2018 (STLRealEstate.News) — For many owners of Self-Directed IRAs, diversification and self-direction strategies are consistent ways to build wealth for retirement. These strategies also come with responsibilities on the part of the owner. Specifically, owners need to know which rules and regulations to follow as they handle many of their own business transactions responsibly.
One such regulation is contribution limits. American IRA CEO Jim Hitt explained the various contribution limits account owners of Self-Directed IRAs can expect for different account types.
“Investors need to know there are plenty of different rules, and those rules change depending on your account type,” said Jim Hitt. “It is not complicated once you know the rules, but with possible, random legislation changes, it is always a good idea to refresh oneself with the current regulations, so they do not have any unexpected surprises around tax time.”
According to the post, which examined the contribution limits for Self-Directed 401(k)s and Self-Directed IRAs, there were both interesting changes and non-changes worth noting. For example, there were not changes in 2018 for the contribution limits of Self-Directed IRAs, which remain at $5,500 for a single individual below age 50. The article did note employee beneficiaries of Self-Directed 401(k) plans can contribute up to $18,500 if below 50. Those contribution totals increase to $6,500 and $24,500 respectively for those individuals 50 and over.
“Each different type of account comes with its own advantages and disadvantages,” said Jim Hitt. “The key is knowing which is right for the individual investor. This post’s immediate benefit identifies some of those key differences. The basic structure of an IRA can be different from that of a 401(k) because of how the contributions are limited and taxed. Knowing those differences is essential for anyone who wants to self-direct.”
The article also dove into the various income thresholds for these retirement accounts, which can be especially relevant for investors who have seen their income fluctuate due to job status changes. For more direct information about these 2018 rules, visit the blog at http://www.AmericanIRA.com or call 866-7500-IRA.
“About: 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.”
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SOURCE: news provided by STL.Properties via PRWeb.com – published on STL.NEWS by St. Louis Media, LLC (PS)
Jim Hitt Explains How to Lower Retirement Account Fees with a Self-Directed IRA
New Post has been published on https://goo.gl/rvdSiW
Jim Hitt Explains How to Lower Retirement Account Fees with a Self-Directed IRA
ASHEVILLE, N.C/April 07, 2018 (STLRealEstate.News) — Long-term growth in investments is a priority for many retirement investors. But as Jim Hitt, CEO of American IRA, recently noted at the American IRA blog: management fees can eat into an investment’s returns and cost hundreds, thousands, and even tens of thousands of dollars in unrealized future gains. According to Jim Hitt, there are several ways to reduce retirement account fees, particularly for investors using Self-Directed IRAs.
The first tip, according to Jim Hitt, is saying no to the “assets under management fee,” or the AUM fee. Writes Jim Hitt: “For example, a $500,000 portfolio with a 1.5 percent AUM fee would cost you $7,500 just to keep the account open, even if you never made a trade. That is a lot of money to pay someone to send you a statement every month.”
Jim Hitt believes there is a better way. He notes consolidating IRAs and previous employers’ 401(k)s by rolling them into a single IRA can help. This is especially true if an investment company charges a monthly statement fee—with a single consolidated retirement account, those fees are instantly reduced to the charge of only one monthly statement.
Jim Hitt insists consolidation alone is not the only way for Self-Directed IRA owners to lower their fees. “Managing one’s own investments means you do not have to pay exorbitant fees just to have the investments sit there and hope they grow,” said Jim Hitt. “Instead, investors should be aware Self-Directed IRAs are a viable option for retirement. Not only can an investor consolidate their accounts into a Self-Directed IRA, but they can utilize a diverse group of asset classes they manage themselves. And it can be as simple or as complicated as the holder of that Self-Directed IRA determines.”
While noting good financial advisers and money managers can add a tremendous amount of value, Jim Hitt also warns this value comes at the expense of the account itself through fees. Reducing these fees can maximize long-term retirement growth and give the holder of the Self-Directed IRA more control over finances. For more information on the advantages of a Self-Directed IRA account, visit the American IRA website at http://www.AmericanIRA.com. Interest parties can contact American IRA directly by calling 866-7500-IRA.
“About: 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.”
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SOURCE: news provided by STL.Properties via PRWeb.com – published on STL.NEWS by St. Louis Media, LLC (PS)
Jim Hitt Reminds 70 ½ Year Old’s About Required Minimum Distributions
New Post has been published on https://goo.gl/GkRVwV
Jim Hitt Reminds 70 ½ Year Old’s About Required Minimum Distributions
CHARLOTTE, N.C. / March 23, 2018 (STLRealEstate.News) — “Those who have hit age 70 ½ need to begin taking Required Minimum Distributions – or RMDs – to ensure that the severe penalties for failure to take RMDs do not add up. Those with Self-Directed IRAs in particular need to pay attention to these rules,” says Jim Hitt, “to get a better sense of how important it is to budget and plan for retirement from age 70 ½ and beyond.”
“When Congress passed the Employee Retirement Income Security Act of 1974,” writes Jim Hitt, “the landmark legislation that led to the rise of the IRA and 401(k) accounts, they wanted to ensure that taxpayers could not defer taxes on their own contributions indefinitely.” That means that the rules first came into effect to ensure that investors would not use IRAs to postpone taxes and keep their money locked up in retirement accounts. The age requirement – 70 ½ – means that even those who have not yet officially retired need to take these distributions. Jim Hitt points out that those who turned 70 ½ in 2017 will have to take a RMD by April 1st of 2018, giving just a limited amount of time before that time is up. A second RMD must be taken by the end of next year as well.
“It is vital that people pay attention to RMDs,” said Jim Hitt. “The penalties for not taking these are quite dramatic and severe. That is why everyone, even those who have not yet retired, need to be aware of these important dates. Make sure you know exactly when you turned 70 ½, and what that will mean for your future RMDs.”
Jim Hitt noted in the blog that there are sometimes issues of illiquid assets. An “in-kind distribution” allows retirement investors to move the title from a property, such as real estate, to their personal ownership. But Jim Hitt noted that the IRS will want to put a number on this transaction to properly calculate the taxes on such a distribution. This may require independent valuation on the property itself, but it can be a way for investors to take an RMD even when their holdings are not necessarily liquid.
For more information on RMDs and to learn more about Self-Directed IRAs, visit American IRA at http://www.AmericanIRA.com or call 866-7500-IRA.
About:
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.
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SOURCE: news provided by STL.Properties via PRWeb.com, published on STL.NEWS by St. Louis Media, LLC (PS)