CHARLOTTE, NC / ACCESSWIRE / July 1, 2019 / How does a retirement nest egg get built from the ground up? According to a recent post at American IRA, a Self-Directed IRA administration firm, one of the most important concepts behind self-directing one's own retirement accounts is knowing how to put the money to work. Specifically, the latest post discussed using a Self-Directed Roth IRA to generate long-term gains in one's retirement portfolio.
A Self-Directed Roth IRA includes a number of advantages. While the contributions to the Roth IRA are after-tax contributions (i.e., no deductions allowed by the IRS), that money is then allowed to grow tax-free for the duration of the Roth IRA's life. What's more, a Self-Directed Roth IRA is not taxed on the back end. That allows retirement investors to put aside large amounts of money without having to worry about paying taxes on the back-end, as the taxes are already paid.
The article also explores how to make the most of one's Self-Directed Roth IRA account. The post mentions how important it is for investors to start early, pointing to an example of someone starting at age 30 with the maximum contribution of $5,500. With an average of 7% returns on these investments, an individual can retire with over a million dollars in that scenario.
For those who averaged 10% or more on their returns for 38 years, the final tallies might be multiple millions of dollars. That suggests that "putting the Self-Directed Roth IRA to work" is an essential part of the process.
"We wanted to introduce people to the concept of how important it is to have your money work for you while you are already working," said Jim Hitt of American IRA. "The Roth IRA is an ideal vehicle for retirement investing because so much of it is not impacted by taxes except on the front end. This leaves a wide margin for error-and for those who really track their returns through self-directing, the returns over time can be astounding."
For more information on putting a Self-Directed Roth IRA to work, visit the post at www.AmericanIRA.com. Interest parties can contact American IRA at 866-7500-IRA.
About:
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville and Charlotte, NC.
SOURCE: American IRA, LLC
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https://www.accesswire.com/549084/American-IRA-Discusses-Putting-a-Self-Directed-Roth-IRA-to-Work
