Self-Managed IRA

Oklahoma City Financial Planners Self-Managed IRA Self Managed IRA

Do you have the right type of IRA? Did you even know there were different types of IRAs to choose from?

Mainly there are two different types of self-directed IRA platforms, the Trust model and the Checkbook Control model. The huge majority of “IRA” programs that you see advertised everywhere are based on the Trust model. The Trust model allows the companies who offer them and manage them to charge you a ton of fees. That’s how they make their money and that’s why they advertise them so much. This model also has loads of limitations  for your IRA built into it. Most people find the traditional IRAs expensive, cumbersome, and very limiting in the assets you can invest in.

Thankfully there is a better way. The Self-Directed IRA based on the Checkbook Control model offers much, much more flexibility. Plus, there are no managerial or transaction fees. This model allows you to purchase just about anything you wish for your IRA.

You can invest in things like; residential and commercial real estate, raw land, trust deeds and mortgages, physical gold and silver, private notes and placements, LLCs, foreclosure property, receivables, stocks, bonds, mutual funds, currency, futures, commercial paper and much, much more. This puts the power and flexibility into your hands and allows you to invest in the best opportunities and in what you know best. You can’t believe how easy it is. When you want to buy an approved asset in your IRA, you simply write the check. That’s it. Hence the name, checkbook IRA. You don’t have to ask anyone or get any approvals. If you wish to invest in something that is on the approved list, like the options mentioned above, you simply write the check. That’s it. No paper work. No forms. No approvals. No delays.

This is of course perfectly legal and done everyday. You are probably wondering why you have never heard of this type of IRA before, right? The reason is, they are not very profitable for the people who offer them and help you set them up, nor are they very profitable for the custodians who manage them. However, they are a great deal for the consumer. Remember the old saying, “follow the money?”  That’s why most people have never heard of these before.

If this sounds like something you would like to know more about and get some more information on, Oklahoma City Financial Planning Pros is happy to help. Just give us a call at (405) 418-6266.