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Checkbook ira4/3/2024 ![]() ![]() ![]() With regular IRAs, the custodian-usually a bank or a brokerage firm-limits your investment options to approved securities like stocks, bonds, exchange-traded funds (ETFs) and mutual funds.ĭifferent custodians offer self-directed IRAs that can own gold bars, silver ingots or even cryptocurrency like Bitcoin. “What’s different is that the custodian of a self-directed IRA allows you to buy a variety of alternative investments,” says Scott Butler, financial planner at Klauenberg Retirement Solutions. You can choose to open a self-directed IRA as a traditional IRA or a Roth IRA, with the same pre-tax and post-tax contribution rules. The annual contribution limit is the same: $6,000 ($7,000 for those 50 and over) in 20. In many ways, a self-directed IRA follows the same template as a standard IRA. Just beware that they are more complicated to manage and come with more additional fees than regular IRAs. A self-directed IRA is a type of individual retirement account that allows you to save for retirement with assets that are off-limits for conventional IRAs, including precious metals, real estate assets and cryptocurrencies. ![]()
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