A self-directed IRA allows you to invest, but you definitely need available capital. As Brian Eastman of Safeguard Advisors realistically advises, “Most people want to invest in real estate, but guess what? You’re not going to be able to do that with just $10,000 or $15,000.” There are other investment options for that. For many people, retirement income is locked into their employer’s plan. Others believe their money is tied up permanently, but there are some exceptions to this. Sometimes when you change jobs or reach a certain age you are able to access those IRA or 401(k) funds. Talking with someone who specializes in self-directed IRAs can help you recognize potential opportunities and avoid missing out on a chance to redirect your funds. You may be able to free up some of that money and put it to work for you in a self-directed IRA with investments of your own choosing.
You need something to invest in, but you also need a team of experienced advisors around you to help you develop a sound investment strategy so you can invest wisely. “The nature of our business,” says Eastman, “is to educate people.” Contrary to what many believe, Safeguard Advisors does not offer investments; they offer advice regarding the tax code and guidelines for investing.
The interest in self-directed IRAs is rapidly growing, as many people are ready to move beyond the traditional investment model. “In past generations that model worked pretty well,” he advises, “but the economy has been much more disruptive in the past few years. It has changed the way people look at Wall Street.” Safeguard Advisors has grown from a fledgling company into a national leader in its field, employing legal and financial experts who can help you with every aspect of successful self-directed IRA investments. In fact, they have thousands of clients in all fifty states and an A+ rating with the BBB. Perhaps that is why upwards of 40% of their business comes as a result of referrals from existing clients.
And finally, you need good perspective, which is gained with increased knowledge. If, for instance, you are interested in real estate investing, it’s not enough to think it’s a good idea. You need some knowledge to give you the perspective that will help you make good choices. Some people think that because they are investing in real estate they can finally buy that vacation home on the beach. Not so, says Eastman. “Because the real estate has tax-sheltered status, it’s about exclusively growing the IRA, not about your personal enjoyment.”
Another good way to gain investment knowledge and experience is to join an enlightened local investment club. They usually meet once a month to share ideas and information, learn about investing, network with other investors, analyze investment options, and many even pool their money to make investments as a unit. Buying and selling is done by a voting process. Since they are all different, it is often a good idea to visit more than one group so you can choose the one that feels right for you. Another part of educating yourself and gaining perspective is reading magazines and books about investing. There is a great deal of information out there, and Eastman advocates that all you have to do is make the time for it.
There is no such thing as learning too much when it comes to growing your nest egg for retirement. All those you learn from, advisors, authors, and fellow investors all become part of your network, and you can learn something from all of them. Host Ryan Sloper remarks that learning about self-directed IRAs and acting on that knowledge “could mean the difference between a successful retirement and dreaming about what could have been.”
Safeguard Advisors is working hard to put that knowledge out there in several ways. The Safeguard Advisors Facebook page is a great resource for timely information and includes topics such as stocks vs. housing, investing in non-performing notes, and successful flipping with a self-directed IRA. The Safeguard Advisors website is easy to navigate and loaded with interesting information which will inform, educate, and entertain you. They also welcome your questions via telephone at 1-877-229-9763 and by emailing firstname.lastname@example.org.