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The Skinny On Self Directed IRA’s

Posted by Jim on Sep 30th, 2013 · 4 Comments

Never heard of a self-directed IRA, you’re in good company. After all, only 2% of the U.S. population has taken the time to open their own Self-directed IRA. Shhhhhh, the big boys on Wall street don’t want you to know you can invest in things other than those assets peddled in lower Manhattan. That’s right, rarely, if ever has there been an advertisement from custodians trying...
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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.

The Skinny On Self Directed IRA’s

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