Is a Self-Managed Retirement Account (Checkbook IRA or Checkbook Controlled Solo 401k) right for you?

By Peter Rizzo

Life Settlements in a Retirement Account? Think Again.

Every day, we talk to people who are trying to determine if a fully self-managed retirement account (Checkbook IRA, Checkbook Controlled Solo 401k) is their best option. Many times after asking a few questions it is determined Checkbook Controlled Retirement Savings and Investing is not needed or simply not in their best interest. Most people are in disbelief when we refer them to another company that has a system that fits them better, but in our company’s value package we vow not to sell our clients but help guide them. Here are a few statements to see where you fit.

Checkbook Controlled IRA’s or Solo 401(k)’s are not for you if:

  1. You are a bad record keeper
  2. You want someone else to control the outcome of your investments and handle all the investigation of various investments
  3. You’re willing to put up with administrative delays in processing payments and deposits for the sake of convenience
  4. You are investing in one thing and going to let it sit and hopefully increase in value
  5. You are uneasy with the risk of doing something “different” 
  6. Your Financial advisor is a friend or relative and you don’t want to offend them

Checkbook Controlled IRA’s or Solo 401(k)’s could be right for you if:

  1. You are able to keep financial records of sales and purchases and account for monies going in and out of account.
  2. You want COMPLETE control over your investments by researching opportunities with the help of different vetting sources
  3. You want immediate access to funds to be able to take advantage of those opportunities that require immediate action
  4. You have a multitude of investments all that require different interactions
  5. You want to invest in rental real estate, lending, home flipping – etc.
  6. You want to invest in a multitude of Crypto Currencies or Blockchain Technology and deal with many of the popular exchanges
  7. You have a good relationship with your financial advisor who is not afraid to have you diversify widely.
  8. Hidden fees and transaction fees in many IRA’s and Solo 401(k)’s are not something you want to participate in. 

These are just some of the considerations you should think about when deciding which vehicle will best suit your style of investing. If you want to explore your options please reach out to or set a time for a call here.

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