By J.P. Dahdah, Vantage CEO
Anyone reading this article is on a financial journey, willingly or unwillingly. We experience a plethora of feelings, both positive and negative, while on this ride. How do we accomplish our objectives and what steps should we take to become financially independent? Building wealth is complex, regardless of whether we’re getting assistance from Trusted Advisors or doing it on our own. There are so many unknowns that affect the potential outcome that it’s virtually impossible to feel totally comfortable that you are on the right path.
It is important to recognize that the path to building wealth is made up of variables that are controllable and uncontrollable. Controllable variables include ensuring you are saving enough money consistently and being disciplined about limiting unnecessary spending and consumption. Uncontrollable variables include market cycles, political unrest, global economic distress and environmental disasters, to name a few. Every day, we wake up and have to attempt to figure out how all of these things are going to impact our financial journey and we need to make decisions on how to proceed. UGH! For many, this responsibility turns into fear and anxiety. For others, it becomes motivation to overcome the adversity and the challenges that present themselves. Regardless, one is still left with the reality that important financial decisions made will have consequences that we alone must face. These decisions will be made based on the financial knowledge, resources and tools we have, or don’t have, to work with.
We all agree that when you are trying to solve any problem, it’s better to have more knowledge, options and tools available to help with a solution. Right? Enter Self-Directed IRAs! In retirement planning, there’s no better investment tool than a Self-Directed retirement account. The problem is that most Americans don’t know that they even exist or have been misinformed about the true investment choices available within their retirement plans so they aren’t incorporating them into their financial plan. We cannot make informed decisions with information that we don’t know.
What makes Self-Directed IRAs such huge financial game changers? It’s simple. These powerful retirement tools offer the largest array of investment choices available in the U.S. along with the greatest tax advantages! We shouldn’t seek retirement accounts that restrict our options to just stock market-based investments, like all brokerage company’s retirement plans do. With Self-Directed IRAs, you can invest in any investment strategy you want except life insurance policies, collectibles and shares of an S-Corporation. Yes, this means that you can direct your retirement savings into direct investments in real estate, private companies, private loans and more. Any alternative investment to help advance your position on your financial journey can be purchased within a tax-favored retirement account via a Self-Directed IRA. Hopefully, the next time you are presented with another critical financial decision impacting your retirement goals, you’ll find comfort in knowing that there is a retirement account available that can offer more choices and solutions to your financial situation. When the goal is to win the financial game, it helps to know all the rules!