How to Control Your Own Financial Destiny
By Peter Rizzo
Every day, there are articles and infomercials encouraging people to prepare for the future; maybe not to necessarily retire but be prepared for their second act. Some have the choice to do what they want and others are like the people in this video. We talk to people every day that are looking at different ways to accelerate the investments in areas other than what their custodian or investment company offers.
Self-directing is the answer to this. The following link has some good information about self-directed retirement savings. https://www.cbsnews.com/news/are-you-ready-for-a-self-directed-ira/. If you decide self-directing is for you, it’s best to look at all options, not just the obvious ones in front of you. Self-directed checkbook controlled retirement accounts (Checkbook IRA or Solo 401k) give you the most control at the least cost, but are hidden by most custodians. The reason they’re not popular with many financial institutions is that you have complete control to invest in whatever you like and the fees are minimalized. You can still deal with your favorite investment advisor, the only difference is you are not locked in to only the investments he or she has access to.
To find out more information, reach out to us at www.checkbookira.com. There, you will be able to see all the different things you can do with your retirement accounts. If you already have an account with us feel free to reach out to see if there’s anything new that might help you grow your account even further. Remember, you have more options than ever to help grow your retirement savings or protect your assets for your heirs and we are more than happy to give you information to make an informed decision.