American IRA Discusses Self-Directed Roth IRA Tips for Newbies
What do investing “newbies” need to know about Self-Directed Roth IRAs? American IRA recently answered that question with a list of tips at its blog.
ASHEVILLE, NORTH CAROLINA, UNITED STATES, January 13, 2023/ EINPresswire.com / -- Many people don’t think of the term “newbie” as applying to people in retirement investing. Yet that’s exactly the audience of a recent post at American IRA, where the Self-Directed IRA administration firm recently released a list of tips for investing in Self-Directed Roth IRAs. Dubbing the post as “for newbies,” the administration firm used the opportunity to introduce the concept of self-direction as well as the nature of Roth IRAs.
In the first tip, American IRA explained the rules of the Roth IRA that investors will need to know. For example, a Roth IRA uses after-tax contributions in an account, which in turn means that investors don’t have to pay taxes on valid retirement distributions from a Roth IRA later in life. Those taxes have already been paid. This is why investors often turn to Roth IRAs, especially those investors who believe that they will be in a higher tax bracket when taking retirement distributions later in life. It can be a tremendously beneficial way to store wealth for the long term.
The second tip advised investors to get familiar with the possibilities of investing in a Self-Directed Roth IRA. “When you Self-Directed a Roth IRA, using your connection through a Self-Directed IRA custodian to manage it, you can then access a wide variety of retirement assets,” the post noted. These assets can include everything from real estate to precious metals—although there are certain limits on collectible items and artwork, which means that while a Self-Directed IRA has a wide range of investment possibilities, it does preclude some assets.
Finally, American IRA familiarized its audience with the unique distribution rule of the Roth IRA. Because the money in a Roth IRA includes after-tax contributions, the Roth IRA has no requirement to take Required Minimum Distributions after a certain age. This means that an investor can continue to leave that money in to grow even beyond the usual RMD age requirements.
American IRA, LLC was established in 2004 by Jim Hitt, Founder 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.”