A self-directed IRA account is one of the specialties of the professionals at IRA Advantage. While other investment advisros focus on “traditional” IRA investments, David and the IRA Advantage Team offer the flexibility to direct your investments as your goals dictate.
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Today we’re talking with David Moore, co-founder of IRA Advantage, a firm that specializes in truly self-directed retirement accounts.
What is a self-directed IRA account?
David Moore: It’s not a legally defined term. It’s just a term that describes an account that allows you to buy what you’d like to buy. So typically if you listen to the financial world and you hear about self-directed IRAs, they’re usually talking about giving you choice of menu items off their list of Wall Street options. Instead a truly self-directed IRA is an account that allows you to buy anything the law allows.
And when speaking of IRAs, the laws have not changed. We can buy literally anything other than collectibles, life insurance contracts, or stock in a subchapter S company.
What kind of an IRA could become self-directed, David?
David Moore: Well any IRA can become self-directed. So it’s great. We can go from using Roth, Traditional, Sep, Beneficiary IRAs, all of those can be used to fund new IRA accounts. We can actually combine those different types of accounts into a single investment vehicle using something called a checkbook IRA, and they work very, very well. We have some restrictions when we’re going from IRAs to 401k plans, but when we’re talking about creating new self-directed IRAs from let’s say a traditional IRA, it’s really wide open.
Are there any final points you wanted to make, David?
David Moore: Well I think that people need to look at their opportunities and understand what’s possible, and understand that there’s absolutely no such thing as a dumb question except for the one that’s not asked. So give us a call, reach out, and understand what is possible.
That’s a great point, David. Thank you, David. Listeners may call 503-619-0223 or can visit IRA Advantage for more information.
Self-directed IRA accounts truly offer the ultimate in flexibility to meet your interests and individual investment goals. Put the experts at IRA Advantage to work crafting one for you!