Are you ready to create your own self directed IRA? If you’re ready to manage your own investments, you may be wondering, “Is a self directed IRA a good idea?” Today’s episode is all about new beginnings, so here are some things to think about when learning how to set up a self directed IRA.
When considering what can you invest in with a self directed IRA, you want to first look for a type of investment that you know something about. For example, if you know a lot about real estate, consider investing in real estate. If there is an investment that interests you, make sure to learn as much as you can about it, so you can understand your self directed IRA investment.
It is also important to consider how much you have to invest with self directed IRA investing. Every IRA custodian charges a fee for their service, instead of a commission. Be sure to count your service fee against the amount you have to invest when considering how much your self directed ira costs. Your self directed IRA will also require more time and effort than an IRA at a brokerage house or bank. So be sure to take all of those things into account when deciding if you want to open a self directed IRA account.
Be sure to tune in next week for more information on self directed IRAs, and learn more at https://www.youtube.com/user/sunwestira