Is a Self-Directed IRA right for you?
While your 401(k) may qualify for a rollover into an IRA based on a life event, you still want to make sure the investment you choose is right for you. Below are some key questions to ask yourself before choosing to invest in a Self-Directed IRA.
Am I goal-oriented and self-motivated?
The investor who is the most successful with a Self-Directed IRA is the one who is willing to do some legwork in order to earn a heavy-duty return on investment.
Do I have enough knowledge to support my Self-Directed IRA choices?
When you choose a Self-Directed IRA, you are choosing to take control of your financial future. That choice means you need to ensure you are armed with the knowledge necessary to understand and follow all the IRS rules and regulations.
Do I have enough money in my IRA to invest in the assets I want?
Typically a balance of $25,000 is a good position to start investing.
Am I willing to take some risks?
Like any investment strategy, using a Self-Directed IRA carries risk. The good news is that you are in control and are in a better position to manage that risk.
Do I need a Self-Directed IRA provider?
The rules surrounding a Self-Directed IRA can seem complex so selecting a worthy provider to guide you through the process is key. Vantage is specialized in these types of services. But whoever you choose, make sure you find a company you are comfortable working with.
If you want to learn more about Self-Directed IRA register in our next webinar:
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