Are you a self directed IRA investor?
If so, you’re in the right place. Here, I talk about what I’m doing in my own self directed IRAs and how to grow them. You can peek into my world and see what I’m doing and decide for yourself if it’s something you want to copy.
I use a self directed IRA account – several of them actually. You are allowed, by law, to manage your own retirement savings in these accounts so that you can grow them tax free in a protected trust.
Yes, you’ll keep your hands off the dough until you retire, because as you get better at investing, you’ll learn how to get the most out of your everyday funds so that you can live well.
Here are my core beliefs:
You should take charge of your own finances.
If you’re too busy to manage your money then you will never accumulate anything. Start now.
Use what you have and save 10% of everything you make, minimum. If you only have $100, then you need to make that $100 work for you, so that it will grow to $1,000.
Don’t look to get rich quick.
If you came into a bunch of money (rich uncle, lottery, publishers clearinghouse sweepstakes), and you didn’t know what to do to protect it so that you could use it and grow it, you’ll either fritter it away, or someone will take it from you.
Succeed by doing what others won’t.
Learn. Do. And do it again. Dust yourself off when you blow it.
The government lets you grow your retirement in a tax free account, and it’s the perfect place to let your money work – so you should use it. If you could see how much taxes eat away your savings (I’ll show you how), it would blow your mind.
You don’t want to find yourself too old to work and without money to put a roof over your head, have fun, and keep yourself healthy.
Self Directed IRA Investors are smart people – but not necessarily specially trained, loaded with cash, or rocket scientists. We’re normal, every day people, who don’t want to depend on Wall Street to mind our returns.
Do you want to give your money to guys in pinstripe suits who have figured out how to quietly tap your stash of dough so that they can live lavishly in a New York penthouse? I don’t.
That’s what this blog is all about. I invite you to chime in and tell me what works for you, and if you disagree- and why. Self directed investors need to stick together so that we can all get where we’re going – which is freedom.
Best of luck to you on your journey.