Retire Early With 7 Types of Real Estate IRA’S

Retire Early With 7 Types of Real Estate IRA’S

Everyone knows you need to give some consideration to your retirement years.

Why do so many people procrastinate and never start to save for retirement?

Maybe they don’t know the secret that it is easy to start an IRA. Whether you’re a few years away or a few decades away, investing in your future is an important step to take. Instead of letting the investment world baffle you, you need to consider starting an IRA. Instead of being like the majority of people and struggling to retire, why not establish a plan to retire EARLY!  A great way to do that is with real estate, but the vast majority of people do not know that is even possible!

Here is a secret!  Take control of your own future and you (account holder) can direct your investments way beyond typical stocks, bonds and mutual funds!

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There are 7 types of self directed IRA’s that can be used for investing in Real Estate:

1. Traditional IRA

2. Roth IRA

3.  Roth 401k

4.  SEP IRA

5.  Simple IRA

6.  Coverdell education ESA

7.  Health Savings – HSA

Watch this video of H. Quincy Long detailing what is available and how they work:

 

 

Here are the basic steps to start an IRA.

1. Determine what type of IRA is best for you
2. Find a good financial advisor or self-directed IRA custodian
3. Open your account or roll-over your existing account
4. Invest for your future

 

For your Self-Directed IRA you need the right custodian and we recommend Quest IRA, visit them at www.QuestIRA.com

How to start an IRA depends on what kind of situation you are currently in. This will help you determine your eligibility for an IRA, where the funding is coming from and much more. When you want to start an IRA it may be as simple as rolling over a 401k account that you have from a previous employer. If you already have a 401k, do not make the mistake of cashing it out and spending the money today. Instead, take the initiative and roll it into an IRA.

There are two main types of IRA accounts and you need to determine which one is right for you. Traditional and Roth IRAs are both ways to save for the future but you need to consider taxes, income limits and various other aspects. Some of the biggest differences between a traditional and Roth IRA fall into the categories of taxable income, distributions and income limits. The power of the tax-free benefits associated with a Roth IRA should get your attention and cause you to carefully consider this option for your retirement future.

Invest without needing cash, credit or a bank

Retire Early, Not Late!

In terms of deferring income tax, a traditional IRA allows you to make your upfront contributions tax deductible and then pay tax when you retire. With a Roth IRA, it is just the opposite. Distributions are also different. Your income may also dictate what you can and can’t do for future retirement savings. You should consult with a good financial planner or a self-directed IRA custodian to fully understand which type of IRA will work best for your situation.

Financial advisors, banks, and various investment companies are all capable of setting up an IRA. When you want to ensure you are getting the most out of your fees, it’s important to talk to a few different financial advisors to see what they offer, how to set up the account and what you will get out of it. Personally I like the power of a truly self-directed IRA. With a self-directed IRA you can invest in a wide variety of alternate investments that far exceed the typical stocks, bonds and mutual funds. With a self-directed IRA you can invest in gold, silver, real estate or energy such as gas and oil.

Now that you know the type of IRA that works best for you it is time to open your new account. The good news is that much of the new account applications and rollover information can often times be completed on-line. If you are not sure how to proceed there will be plenty of help and assistance available from your chosen broker, bank or financial institution to assist you with opening your new account.

Retirement may be right around the corner or many years ahead. Learn how to start an IRA sooner than later so you have the funds you need when it’s time to start living out your golden years in style. The younger that you can start your IRA the further ahead you will be later in life. Albert Einstein is credited with saying the most powerful force in the universe is compound interest. This is very true and the reason it is so important to start saving and investing for your future. The process for starting an IRA is not difficult and is one of the most important things to accomplish so that you are prepared to retire. Do not procrastinate, instead begin to take control of your future and start the process today. The process is not difficult. It is just like baking cookies, follow the recipe in the four steps to start your IRA and you can begin to take control of your future.

Retire Early With 7 Types of Real Estate IRA’S

 

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