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Have Confidence In Your Investing Prowess Use a Self-Directed IRA

Posted by Jim on Jul 31st, 2012 · 5 Comments

More and more people are taking control of their IRAs and applying their investment knowledge in hopes of a more comfortable retirement. The growth of self-directed IRAs has increased as people seek to invest outside of the traditional stock-CD slot. Many are seeing solid returns as their portfolio diversifies into real estate, precious metals and other markets. This highlights the number one reason...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

Have Confidence In Your Investing Prowess Use a Self-Directed IRA

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Critical Financials’ Basic Personal Finance Rules