CHARLOTTE, NC / ACCESSWIRE / March 16, 2021 / Is there an ideal time of year to start a Self-Direct IRA, or is it all the same? That is the question posed at a recent post at American IRA, where the Self-Directed IRA administration firm talked about the individual quirks of owning a Self-Directed IRA. It approached the question from two angles: first, through the lens of compounding returns, in the broad sense that retirement investors typically perform better after getting an earlier start. Then the post shifted to talk about specific times of year, and how that might change how an investor approaches an account like a self-Directed Solo 401(k).
In the first section, the post paragraphed an old adage: the best time to plant a tree was twenty years ago, but the second-best time is “now.” For retirement investors, the goal is often to acquire compounding returns over time. While an investment might be successful if it returns 10% in a year, a one-year timeline is very short. For long-term investors like retirement investors, returning 7% a year over the period of decades can have a dramatic effect on the overall wealth in a retirement portfolio.
In the second section, American IRA talked about the idea of looking at the contribution options available within specific Self-Directed IRAs. For example, a Roth IRA does not offer any deductibility when it comes to retirement contributions. The Roth IRA’s structure is to use contributions on money that has already been taxed, allowing said money to grow within the account. But a Self-Directed Solo 401(k), for example, is a different story, including deductible contributions. Such differences, the post notes, are important for investors to consider when thinking about the issue of specific timing.
“Investors in retirement assets can sometimes get in their own way,” said Jim Hitt, CEO of American IRA. “This post is aimed at pointing out just how important it can be for investors to get the ball rolling when they approach their retirement accounts.”
“American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $500 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties, or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term “they” refers to American IRA, located in Asheville and Charlotte, NC.”
SOURCE: American IRA, LLC
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