7 Myths About The Self Directed Retirement Plan

It’s unbelievable how many investors out there think that low return rates on retirement investments are inevitable. It’s actually quite easy to get higher returns from your retirement plan but you have to self-direct your account. The problem is that there is so much misinformation out there about self-directed IRAs thanks to banks, which generally discourage it because they lose profit when their customers do it. However, if you want to recuperate your losses and earn double or even triple of what you are earning now, you should consider rolling over to a self-directed IRA. Here are 7 myths about self directed IRAs uncovered.

1. Retirement planning is very unstable and uncertain if you self direct your account. There are companies out there that are set up to help you self direct your account and can guarantee to double your returns or pay the difference, making it completely risk-free and in fact lucrative to self-direct your account.



2. A self directed retirement plan requires a lot extra work on the account owner’s part. From the initial rollover process to the investments, there are companies that will provide you with an account custodian to help you with everything. All you will have to do is sit back and watch the higher returns roll in.

3. When you do a rollover to a self directed IRA, you are required to pay exorbitant fees. It is actually free to rollover your assets and it is a very simple process because there are companies out there that can help you every step of the way.

4. You have to be an experienced investor to self direct your IRA. Retirement planning with a self directed IRA is actually quite easy, even for a novice investor. You can have a knowledgeable and experienced account custodian helping you through the whole process. This account custodian will listen to your wants and act accordingly.

5. When you have a self directed retirement plan, you are solely responsible for every transaction and decision. By law you are required to have an account custodian even when you self direct your account. An account custodian will help you with the entire investment process and make sure that you follow all the rules and regulations to avoid penalties.

6. Retirement planning with a self directed IRA is difficult because the rate of returns fluctuates so often. There is no investment more stable than real estate in a self directed IRA. Real estate tends to increase in value over time and it is insured against common forms of loss so it is a consistently lucrative investment venue. It is the best way to plan for retirement because of all of its inherent benefits.

7. A self directed retirement plan is expensive to maintain. You may be surprised to learn that for minimal annual fees you can have an account custodian help you self direct your account. You will make much higher returns and pay much lower maintenance fees. On the other hand, if you have a traditional retirement account at a bank, you have to pay exorbitant fees to have an account manager.

So there you have it. These are just some of the many myths out there about self directed retirement accounts. There are many advantages to having a self directed retirement plan but banks discourage their customers from doing it because it hurts them in the long run. If you want complete control over your investments and the opportunity to maximize your returns, self directed plans are the way to go. They will help you achieve your financial goals better than any other retirement plan out there.

By: Gordi

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Gordon Hall is an active participant of a national network of professional writers, who advocate socially conscious real estate investing, through the use of retirement vehicles such as IRAs, 401Ks and other retirement assets. For more information, or to get involved, please visit the following www.double-your-ira.com