When planning for your retirement investment, you also need to consider the tax advantages available. One of the smartest moves you can choose is investing with an IRA. However, most IRAs tend to limit some of your investing options. This mostly involves traditional investing techniques such as bonds and stocks.
If you want to dabble in alternative investment assets and enjoy the IRA tax benefits, you must go for a self-directed IRA. There are different self-directed IRAs within the market that you can choose from. Let’s learn more!
What is a Self-directed IRA?
A self-directed IRA refers to an IRA in which the custodian gives you room to access a comprehensive set of alternative assets, contrary to the regular IRA. With a self-directed IRA, you can easily invest in other assets such as cryptocurrencies, fine wine, at-work real estate, and many others. Ultimately, you will still enjoy tax benefits similar to those of a traditional IRA with similar contribution limits.
The most important point is that you are fully in charge of your trades and have wide room to make other investments. Contrary to popular belief, you don’t stand a chance to get any investing advice from the custodian of your retirement benefits. This type of IRA allows you to invest in more volatile assets, such as private equity, among other speculative investments.
Note that this is a reliable option for individuals who want to try different investments to identify what works for them. Identifying some of the best self directed IRA providers makes your work easier when making your retirement decisions. Some of the available options include:
Rocket Dollar
Rocket Dollar is the ideal option for you when you want to gain more control over your investment assets. This is one of the leading self-directed IRAs on the market today. The provider operates by creating an LLC for you that enables you to invest through grants and checkbook control. It enables you to make an investment within a shorter period by writing a check or issuing a wire transfer.
Rocket Dollar is a partner that allows you to choose investment platforms such as cryptocurrency exchanges, loan providers, crowdfunding, renewable energy, and many others. The company offers two different pricing options, which include silver and gold.
Pacific Premier Trust
Pacific Premier Trust has over $15 billion in assets under company management. This is also considered a major player in the field of self-directed IRAs. Note that this is a branch of the Pacific Premier Bank that has been in business for over thirty years. The company gives you access to a checkbook control system to ensure you take maximum charge of your investment.
This company had established an exceptional reputation within the real estate sector and private equity, among other areas. The team under Pacific Premier Trust has experience dealing with more than forty thousand alternative assets.
Equity Trust
Equity Trust is classified among the best self-directed IRA companies that enable you to invest in different types of assets. These investment assets include peer-to-peer lending, precious metals, and crypto. Also, you can invest in more traditional securities such as stocks, mutual funds, and other funds. Equity Trust has operated for over forty-five years, making it a reliable option.
The company is in charge of more than $34 billion worth of assets under its management, which has grown over the years. This indicates a successful track record of the company’s achievements, making it stand out.
Alto
Alto is another reliable option that you can prioritize in your choices. The company charges affordable fees, and it’s pretty easy to use. It allows you to invest through more than seventy partners based on your preferred category. The categories offered include private credit, startups, crypto, real estate crowdfunding, etc. All the investment partners have varying investment requirements that you need to evaluate.
After conducting a trade with your investment partner, you are charged a certain amount of money. The affordable fee that is charged on the platform makes investing an easy and exciting activity.
Bottom Line
Always choose options that reciprocate your budget and goals when looking for a self-directed IRA. The options presented in this article can help you achieve financial freedom by making the right retirement investments. A self-directed IRA offers you the ability to invest wisely after retirement.
