Now that I have an Individual(K) Plan, what do I do with it?
In the first part of our series on Individual (k) accounts we discussed who can have one, and all of the great benefits to starting up an Individual K account.
But now that you have one, do you understand what your options really are?
Do you know what steps to take to get the most benefit out of this incredible tool?
You have the freedom
A Self-directed Retirement account gives you freedom to invest in more than stocks, bonds, or mutual funds. Under your direction, you can buy everything from real estate to deeds of trust and mortgages. Your IRA can do secured or unsecured notes, partnerships and joint ventures and even private stock. You can invest in many other types of assets as well.
While this is all true about any self-directed IRA (Trad, Roth, SEP, Simple, etc.) the Individual (K) gives you additional tools and protections not found in the other SDIRA options.
The “Superhero of the Self Direct IRA’s”
You can do many things with your self-directed retirement accounts no matter what type you have, but when you have an Individual K account you can do even more. You can;
The Individual K is one of the most attractive retirement solutions for sole proprietor business owners and the self employed for all those reasons and more.
Mountain West IRA does not offer clients investment, tax, financial, or legal advice. Individuals who believe they need advice should consult with the appropriate professional(s) licensed in that area.
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