When you are saving throughout your life with 401k and IRA accounts, you generally don’t get to make decisions about how those accounts are managed – or how they grow. You don’t have autonomy for directing the funds in the accounts to perform as you would like. They are managed by money market managers or plan account managers who are retained by the firm you work for as a general rule. About all you can direct is the percentage of what’s in the accounts to be in certain groups of securities, if that is offered.
So while the accounts may be “yours”, you don’t actually get to make the major decisions about them. In some instances, this arrangement might suit you just fine. For those who like more control over their future, however, this arrangement is frustrating in the extreme. Those who are financially literate and who understand how these accounts should work would rather have the reins in their own hands instead of having to rely on someone else’s judgment.
If you fall into the latter category, this is where you might be getting some welcome information. There are self directed IRA accounts available now that allow you to be the master of your own investment and savings fate. Instead of the usual smorgasbord that is available to you from traditional IRAs that include bonds, stocks mutual funds and the like, you get much more latitude with self directed IRAs. You are able to invest the funds in real estate and private equity, tax liens and precious metals, franchises, partnerships, and more.
Suddenly, you really can become diversified in a whole new way. This holds a lot of promise for some who would like to be able to direct that fate. You get diversity as well as direct control over the assets that populate the self directed IRA and you can even have some sophisticated investors in legal and tax structures in these accounts.
So by now you might be wondering how this happens. You, as the account owner, get to make all the decisions about how the funds are allocated and invested – you just do so with a third-party administrator or custodian who does the paperwork. One of the best in the business is Goldco Precious Metals. As a service provider for gold backed IRA and 401k accounts, Goldco understands self directed IRA accounts – how to set them up, fund them, and help you get them started on the right path.
After that, it is up to you for all in-depth decisions. All things should be this easy – you decide, and they execute on them. Goldco will make sure you stay compliant with the IRS and all the other entities that have something to do with your account. Their experts will help you out with reporting, record keeping, withdrawals, distributing the assets or borrowing from the account among other tasks.
Goldco Precious Metals can provide the expert assistance you need to get a self directed IRA started now. All you need to do is give them a call.
A self directed IRA may be the answer to all of your retirement savings concerns. Visit Goldco Precious Metals to learn how to start one today.