September 21, 2023

How Can You Make Your Retirement Years the Golden Time in Your Life?



Your retirement years are called your Golden Years for a reason; they’re the time in your life when you can do all of the things that you have put off because of work and other commitments. People say that they are the happiest in their life after 50 – simply because they have the time and freedom to travel and make new memories with their spouse, children, grandchildren and friends. Plus, you have the wisdom to appreciate the moment at hand. However, your retirement years or Golden Years are only that if you have laid the foundation beforehand to ensure these freedoms. The most important factor in retirement planning is establishing a plan as soon as possible. If proper investments are established early, time is your friend, and time is what you will have to enjoy when a retirement plan is properly administered and realized.


Here are some tips to consider for retirement planning:


Demand Control of Your Retirement: Unfortunately, when the Great Recession hit several years back, a large number of people saw their 401K plans dwindle tremendously. The real kicker, though, was that some didn’t really have an idea of where their investments were going. Others were bound by limitations that prevented them from making investments that would have made them more secure against an economic downturn. In order to guard against future recessions, a self-directed IRA plan can diversify a portfolio and pay future dividends even in a down market. A self-directed IRA allows the IRA holder/owner to have full control over the funds, thereby allowing the IRA owner to make investments at will. Investments include traditional assets, like stocks, bonds, mutual funds, but the real advantage is the investment potential in non-traditional assets, like real estate, precious metals, private money lending and other permissible self-directed IRA ventures. IRA rules allow greater flexibility for the individual investor than most think. A self-directed IRA plan needs to be considered as part of the overall portfolio.

Retire at the Right Age: Just because you reach the age of 65, it doesn’t necessarily mean you should announce your retirement and ask for your gold watch. An individual’s retirement age depends on a number of different factors, and there is certainly not a set age. Factors that will influence your decision include whether or not you have the savings, if you foresee major expenses, whether or not you qualify for Social Security or Medicare, if needed, and lifestyle goals in your retirement years.

Maintain Your Health with the Right Lifestyle Choices: Some of the biggest expenses you may incur during your 60s, 70s and 80s will be your medical bills. Even with insurance or Medicare, you may still face “out of pocket” expenses. It is so important to take control of your health now. If you smoke, seek cessation help. Moderate the consumption of alcohol. And for all of us living the “American Fast Food Dream,” consider limiting your intake of red meat, processed foods and dairy.  A new wave of information is coming to the public and the theme is “Prevention.”  Just like the “Iron Age” and the “Industrial Age” passed, so will the health care days of “Intervention”.  Prevention is far superior to intervention.  Get ahead by discovering preventative measures in the areas of diet and exercise. Today is the day to prepare.  Your retirement years or Golden Years are exactly that: they are yours! You don’t want to spend them in waiting rooms.


Self Directed IRA Plans Put You in Control of Your Retirement Plans

Self Directed IRA facilitatorA self-directed individual retirement account is a way for people to control their own investments for their retirement portfolio and to diversify into non-traditional assets. A Self-Directed Plan offers investors the opportunity to invest in real estate, precious metals, and businesses and even provide private money loans to businesses or individuals. The real advantage being that all the returns on the investments grow tax-deferred, or in the case of Roth, tax-free in the retirement fund.

The primary benefit is the control the investor exercises over their retirement account. One way to achieve the most control is to establish an LLC where the IRA holder is the manager of the business with the ownership held by the trust or custodian. This is referred to as an IRA checkbook or checkbook IRA because there is a business checking account established for the LLC. This arrangement provides great flexibility for the investor, but with great flexibility comes the need for personal responsibility.

A Self Directed IRA Facilitator can help anyone who has traditional IRAs or 401ks set up a self-directed IRA. The self directed IRA Facilitator will provide the documents and guidance necessary to establish the trust account with a self-directed custodian. From there, the Self Directed IRA Facilitator will form the LLC for the IRA investment and enable the opening of a business checking account. No longer will the IRA be subject to delays and exorbitant transaction fees of a traditional custodial IRA or 401k.

There are several reasons why a self-directed IRA is worth setting up. People who have been working for years may have their life savings locked away in a retirement account. A self-directed account will allow that money to be invested in places they choose. This gives the person a chance to make a sizeable investment on the ground floor of a promising startup they strongly believe will prosper. Also, investing in real estate is an option that is possible under a Self-Directed Plan that isn’t possible with a traditional IRA.

Even though self-directed IRAs have more scope for investment, there are limits. Investors cannot co-mingle funds and cannot buy, sell or trade personal property to the IRA. Consult with your Self Directed IRA Facilitator, tax-attorney or accountant. Self-directed IRAs require proper guidance and once established, are a great asset for investors. Remember, no tax returns, no rollover problems. The owner is in control and can invest simply by writing a check. If you are an investor already having success in non-traditional assets, a self-directed IRA plan is a must. Invest in what you know, discover self-directed retirement options.