Before You Set Up A Self Directed IRA
Are you ready to secure your financial future by managing a self directed IRA, but don’t know where to begin? Then watch this video for important tips on setting up a self directed IRA account to find out exactly what it takes, and where to start first! You’ll find out how to create a dynamic money-managing team to help you with your investments, so you can focus on making your money work for you!
Taking Care of Your Self Directed IRA
The first person you’ll need on your side is a self directed IRA custodian. Be sure to find a self directed IRA custodian who will allow the kind of investments you want to make. You should also check out their self directed IRA management fees to make sure it fits in with your investments, and the kind of returns you expect.
Invest in a Single Member IRA LLC
Next, you should find a self directed IRA attorney, especially if you’re planning to set up self directed IRA LLC accounts. A self directed IRA lawyer can help by advising you how to handle your LLC or even just your IRA. You should also have an accountant who understands how your IRA or LLC works, what kind of tax reporting needs to be done, and how to keep track of your investments.
Real Estate IRA Investments
If you plan on having real estate IRA investments, you’ll need to find a good real estate broker who understands real estate self directed IRA rules to help you find the value of properties so you can make accurate reports to your custodian. If you buy precious metals such as gold or silver, you’ll also need a precious metals dealer you can trust to deliver the metals to a depository or safety deposit box in a timely manner. With any investment broker or sponsor, you should make sure that you understand what they’re doing, how they make their money, and how they will pay you. Make sure your self directed IRA real estate broker or precious metals dealer is someone who you can trust.
Don’t Forget A Good Financial Planner
The last and most important person you should have on your side is a good financial advisor who can help you with things like a self directed Roth IRA. When determining if a financial advisor is a good fit for you, explain to them what you want to do with your money and your future; they can help you determine goals, figure out how much money you will need, and show you how your investments can provide income. Many people who have lost their money could have avoided disaster by having a good financial advisor. Having a financial advisor on your team can cost a little extra, but it is definitely worth the investment.
Spend a little time researching companies that manage self directed IRA accounts and building your team before you start your self directed IRA, and your investments will be much more prosperous in the long run!
Open a self directed IRA: https://youtu.be/05pXLGc-cCQ
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Tips on Setting Up a Self Directed IRA