Self Directed IRA LLC
<p align="justify">The IRA was created by the ERISA laws of 1974 and quickly became one of the hottest retirement vehicles in history. In 1997, the Taxpayer Relief Act created the Roth IRA (named for former Senator William V. Roth, Jr.), which has surpassed its predecessor as the most advantageous retirement account in history. These federal laws still govern IRAs and define what is illegal but the majority of restrictions placed on IRAs of both types come from IRA custodians.
<p align="justify">The first IRA custodians were large financial institutions that offered their own financial products and those of subsidiaries in their IRA plan documents. These documents were large and compressed and as new generations of plan documents were developed, these first generation plan documents were used as the foundations. This is why entire classes of investments are disallowed under so many custodians.
<p align="justify">In recent years, smaller companies began creating plan documents that freed up an investor's ability to invest in anything allowed by the laws mentioned above. These accounts are commonly called self-directed IRAs and they can rarely be found through large mutual fund companies, banks, and other traditional financial institutions. A self-directed IRA gives the investor the freedom to realize extraordinary growth within his or her IRA (and the freedom to lose money as well, so get a good advisor).
<p align="justify">Choosing the Right Advisor Is Crucial for Success
Any company that can help you set up a self-directed IRA with the use of an LLC for checkbook control can probably also serve as an advisor. They likely will have much more experience from which to draw than will traditional financial consultants. Your advisor should be willing to answer questions and give you periodic advice but unless you are willing to pay for their consultation, you should not expect them to be at your beck and call.
<p class="smalltext">Written By Scott Janko, The National Association of Financial and Estate Planning (NAFEP)
<p align="justify">For more details on the Self Directed IRA - LLC Click Here.
<p align="justify">The first IRA custodians were large financial institutions that offered their own financial products and those of subsidiaries in their IRA plan documents. These documents were large and compressed and as new generations of plan documents were developed, these first generation plan documents were used as the foundations. This is why entire classes of investments are disallowed under so many custodians.
<p align="justify">In recent years, smaller companies began creating plan documents that freed up an investor's ability to invest in anything allowed by the laws mentioned above. These accounts are commonly called self-directed IRAs and they can rarely be found through large mutual fund companies, banks, and other traditional financial institutions. A self-directed IRA gives the investor the freedom to realize extraordinary growth within his or her IRA (and the freedom to lose money as well, so get a good advisor).
<p align="justify">Choosing the Right Advisor Is Crucial for Success
Any company that can help you set up a self-directed IRA with the use of an LLC for checkbook control can probably also serve as an advisor. They likely will have much more experience from which to draw than will traditional financial consultants. Your advisor should be willing to answer questions and give you periodic advice but unless you are willing to pay for their consultation, you should not expect them to be at your beck and call.
<p class="smalltext">Written By Scott Janko, The National Association of Financial and Estate Planning (NAFEP)
<p align="justify">For more details on the Self Directed IRA - LLC Click Here.
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