The Self-Directed IRA has all sorts of options—but is using a brokerage account one of them? A recent post at American IRA tackles the topic.
ASHEVILLE, NORTH CAROLINA, US, October 14, 2023 /EINPresswire.com/ — Given that the Self-Directed IRA includes all sorts of investment options, such as putting money aside into real estate and precious metals, many people wonder if it’s possible to use more traditional styles of investing within one. Can an investor hold a brokerage account within a Self-Directed IRA? The answer, according to a recent post at American IRA, is a definitive yes—showing just how versatile these account styles can be to help investors put aside money for retirement.
In the post, American IRA first tackled the basics of Self-Directed IRA brokerage investing. “Self-direction is simply an approach to retirement investing, not a unique account type,” said American IRA. This is to avoid the confusion that the Self-Directed IRA is another “type” of IRA, such as a Roth IRA or a Traditional IRA. And while it’s possible to self-direct these types of accounts, such as a Self-Directed Roth IRA, there is no account “type” known as a Self-Directed IRA.
So what does self-direction mean, then? According to the post, and to American IRA’s website, self-direction is the act of working through a Self-Directed IRA administration firm who serves as the custodian on the account. This gives more power to the investor to make direct financial decisions about what ends up in the account and doesn’t. Then, issuing buy/sell orders through the custodian, the retirement investor can choose from the wider range of available investment types.
That includes a brokerage account, if the custodian makes that possible. With American IRA, it is possible, the firm notes, but it is important for investors to seek out more information directly from their own Self-Directed IRA custodians to see what’s possible.
American IRA regularly posts facts and information to its blog to help people who are looking for information about Self-Directed IRAs and retirement investing. To find that blog, visit www.AmericanIRA.com. Or to contact American IRA directly, call the Self-Directed IRA administration firm’s number at 866-7500-IRA.
Article originally published on www.einpresswire.com as American IRA discusses If Investors Can Use a Brokerage Account in a Self-Directed IRA