For many people, having control over their destiny is the most important thing. If they don’t have control – or at least a measure of control – they don’t do well. This can even be true with their investment savings. For a majority of individuals, investment savings like 401K and IRA accounts are out of our control almost completely. The only thing you can direct is the percentage that is in stocks vs. Mutual funds. At times you can choose groups of investment opportunities, but rarely are you in control of all the movement in a retirement account.
This really does present a significant problem for those who value control above other things. So it is important to know that there is another path these individuals can travel for retirement savings that has the full approval of the IRS, and allows them to jump through a few hoops then be in control of their investment strategies down to the penny. This savings vehicle is called a self directed IRA, and you can get one that owns physical assets like gold through Goldco Precious Metals. In fact, Goldco can help you set the whole thing up and do most of the heavy lifting for the set up on your behalf so you can so the fun stuff on the other end when the set up is complete.
Essentially, when you have a self directed IRA, you get to make all the decisions – good or bad, mind you – on what the investments should be and you have a much wider range of choices with a self directed IRA. You can invest in real estate or mortgage loans, private equity or precious metals or tax liens, and then there are franchises or partnerships. Lots of vehicles for investment that you wouldn’t ordinarily have access to with traditional IRAs or 401Ks.
With this self directed IRA, you set up a special structure like an LLC within the account. This kind of structure is what allows you to have direct control of the funds for investment and be able to management them individually. Of course, one of the investment strategies that is excellent for yourself directed IRA is gold and other precious metals. These physical assets are part of what give your retirement funds great stability and a more secure platform for growth. Getting additional benefits of asset and tax diversification don’t hurt, either.
In case you are thinking this through and see places for slippage to occur with a self directed IRA, it is important to note that this type of account is set up through a third party like Goldco Precious Metals, and that third party becomes a custodian of sorts for the account(s). They provide regular reporting and deal with anyone who needs information about the account. When you, as an owner, need to withdraw, borrow against, or distribute assets, the custodian takes care of these actions – sort of like being a “bank” for the account that is still accountable to the owner and vice versa.
Check out more about a self directed IRA at http://goldcopreciousmetals.com/self-directed-ira , and through the self directed IRA FAQ that can be found at http://goldcopreciousmetals.com/self-directed-ira .