A business mentor used to encourage us, his associates, about investing in solid assets such as precious metals, numismatics and real estate properties – things that increase in value over time. With the speedy appreciation of land cost per area, I’m glad that some of my siblings have already started their journey to financial freedom by investing in some real estate properties, and this too is one of my future goals.
While it’s good to start investing when you’re still young, US retirees can also have the opportunity to convert their 401k (traditional IRA or Individual Retirement Account) into a self directed IRA which enables them to have more investment options such as real estate or putting up a business. In setting up a self directed IRA, there are many IRA consultancy companies to choose from, thus it’s best to consider some important features such as lower setup cost, staff must be holders of real estate licenses, manage self directed IRA non-recourse mortgage loans, and offer unlimited consultation among other things.
A real estate investment is more attractive to retirees since it speeds up their IRA value because of its high rate of return than other investment options. A self directed IRA opens more financial opportunities for US retirees to help build their future wealth.
Being able to self direct your IRA and other retirement funds into real estate, businesses, or many other investment types is a great way to diversify any portfolio and build tax free wealth. Great job summarizing this opportunity and I like the easy to follow graphic.
If anyone would like additional information, check out Equity Trust Company http://www.trustetc.com. Equity Trust Company is a custodian that can provide you the service you need to start making self directed IRA investments.