Taking control over your retirement accounts - Ahwatukee Foothills News: Business

Taking control over your retirement accounts

Print
Font Size:
Default font size
Larger font size

Related Stories

Posted: Wednesday, July 6, 2011 2:00 pm | Updated: 6:56 am, Tue Sep 24, 2013.

Self-directed IRA/401(k)s let you be in charge of your retirement investing. The law permits funds to be invested in any asset except for insurance or collectibles.

Anyone can take control of his or her retirement assets that are not in their current employers benefit plan. That means IRA or 401(k) funds that you now have and control can be structured for your checkbook control investing.

The funds need to be placed with one of the self-directed IRA custodians or you need to establish your own personal 401(k) plan for rolling over prior employer 401(k) plans or even rolling over IRAs into your new solo 401(k) plan.

The IRA conversion or new 401(k) plan can be set up at any time. Because the new plans are unique and tax law specific, you may need some help to set up the conversion.

Help should be sought from experienced institutions and professionals with this self-directed knowledge and experience. Contact us for needed referrals and help if needed.

The main reason for converting retirement funds to self-directed control is:

1. To invest in assets not now available or permitted by your current custodian or trustee.

2. You desire the ability to leverage your retirement funds with borrowed funds to purchase larger investments for retirement income, i.e. real estate.

3. Your desire to have personal control over your funds versus giving that control over to someone else.

You have the ability and flexibility to control your retirement funds and associated investments. This process also permits leverage/borrowed funds to increase investment returns but requires work and you taking control over your retirement accounts.

• Ahwatukee Foothills resident Ken Lindow is a certified public accountant with offices located in Ahwatukee. Contact him at Ken@LindowCPA.com or at (480) 940-8351.

More about

More about

More about

  • Discuss

[Sponsored] Terri's Consignment: Divorce the sofa

Facebook

ahwatukee.com on Facebook

Twitter

ahwatukee.com on Twitter

RSS

Subscribe to ahwatukee.com via RSS

RSS Feeds

Spacer4px

[Sponsored] Terri's Consignment: Divorce the sofa

Online poll

Loading…