If you are tired of the same old, same old investments and investment strategies that are commonly available in traditional IRAs and 401ks, then a self storage IRA might be the perfect solution for you. self directed IRAs, otherwise known as checkbook IRAs, put the power of investing into your hands. It’s one of the reasons they are a favorite retirement savings account for many seasoned investors. Here’s how it works:
To start a self directed IRA, the first step is to contact a company that is familiar with filing the paperwork for such an account. Because self directed IRAs aren’t as common as other types of retirement savings accounts like traditional and Roth IRAs or company sponsored 401ks, it can take a little digging to find a company that is not only able to file the necessary paperwork, but is familiar with the process of setting up a self directed IRA. Goldco Precious Metals is one company that has extensive experience helping people start a self directed IRA.
After you locate the right company for your needs, it’s time to complete the necessary paperwork to start the account. For a self storage IRA, part of this paperwork requires you to establish an LLC. This is the main reason why having an experienced self storage IRA firm on your side is so important. Starting an LLC can be tricky and there can be significant negative repercussions for not filing the paperwork properly. Of course, the LLC paperwork is only a portion of the necessary documentation to get a self storage IRA started, but is a vital part of the process.
The next step is to fund the LLC. You can do this in a number of ways including providing funding out of your existing retirement savings accounts. Of course, if you plan on using an IRA rollover to fund your new retirement account, you’ll need someone to help you with the necessary paperwork. The professionals at Goldco Precious Metals are also well versed in processing rollovers and can help you with this aspect of the process as well.
Once the LLC is funded, you as the LLC owner, can begin making investment decisions that will help you grow your account. Unlike traditional retirement accounts, with a self directed IRA, you can invest in a wide range of things from stocks and bonds to gold, silver and other commodities and even real estate. You don’t have the same restrictions on your investment activities as you would with other types of retirement accounts, so you have the freedom to grow your account as quickly as possible.
Goldco Precious Metals wants to help you succeed in your retirement savings strategy. Call or click today to learn more about the benefits of starting a self directed IRA today. They can help you through the entire process and get you going in no time. For more information on how self directed IRAs work or to ask questions regarding whether a self directed IRA is the right choice for your savings needs, please visit http://goldcopreciousmetals.com/self-directed-ira.
A self directed IRA may be just the ticket your retirement savings strategy needs. Visit Goldco Precious Metals today to learn what a self directed IRA can do for you.