Most people save for retirement by 401 and Roth IRA , traditionally IRA. In the year 2023, when I am searching for what is the best way to earn passive income and I have found Self direct IRA. I don’t understand it at first. I keep learning watch podcast and read the book to learn more. I have a light ball moment. I love to share with my family and friend. Of course not everyone will understand and agreed with me.
I am funds my retirement funds 3 ways. 1. Matching from the company that I am working 2. Contribute to my mutual funds 3. Self direct by owe LLC to manage real-estate.
So in short summary ; How self direct work is you can use your funds that you save for retirement and invest for what you know. For example, I like real estate investment. I have roll over my Roth into Self direct. I have my self direct open LLC and that LLC is hold my real estate. Everything that I earn from my real estate income back to my self direct account, and tax free. I have the lawyer from Mark J Kohler and I have connect with the the lawyer and set mine up the correct way. In opinion, I love self direct. It is my first choice. Please reach out if you would like me to recommend the lawyer and financial advisor friend that I trust and they helped me set up all that I have mentions.
Key to take away👍
Pro: You don’t have to depend on up and down of the market to grow your retirement income and tax free.
Con: You need to follow the guide line of each investment that you decide to do with Self direct ( Retirement funds)
Disclaimer; I am not a lawyer or a CPA. I just share this with experience that I have. Please seek advise for professional.
The book I highly recommend👍
The self directed IRA Handbook second edition by Mat Sorenson
