You can use your IRA to invest in whatever you want, with major limitations. One of my favorite places to invest is Real Estate. Using your IRA to invest in real estate has limitations, but it allows you to take advantage of a primed real estate market and grow your retirement.
American Pension Services is one of the few IRA Service Providers that allow true self direction as far as the law allows. They have numerous education resources to help you know how best to use your IRA. With true self direction you can invest in what you know (my favorite way to limit risk). Their fees are a little steep, but it's worth it if you are actively managing your IRA.
There are a few simple rules that you must follow when using an IRA to invest in real estate:
1. You nor a family member can benefit directly from the investment. All benefits are to go back to your IRA.
2. You nor a family member can live in the real estate.
3. You nor a family member can work on the property directly.
Always consult a tax attorney when making these kinds of decisions. If you like real estate, it might be worth it to look into this kind of investing.
Tuesday, December 4, 2012
Invest Your IRA in Real Estate!
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