Is Your Self-Directed IRA the Worst Mistake You Made?!
04/26/2010 0 comments
April 26th, 2010 By John Park
There are many articles and blogs on the benefits associated with a self-directed IRA and 401K. So, why would the ability to self-direct one’s own retirement assets be a bad thing?
Do you really know what you are doing with your self-directed IRA? Have you, and how do you know, that your investment choices fit the stringent IRS rules regarding prohibited transactions?
Why address this? What can be done about it? Well, first and foremost, education, education and, oh lastly, education. Many people believe that in retaining the services of a self-directed administrator, custodian or facilitator, that these entities or individuals will keep them from harms way. In reality, THINK AGAIN.
Just remember that, unfortunately, in the case of self-directed IRA’s, what you don’t know can hurt you…a lot!
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labels:retirement,investment,401k,
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