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We could not agree more with the title of this article…. This is a great article and good advice on the importance of getting educated about your IRA and retirement… Enjoy! Learn more about a self directed IRA at the IRA LLC partner…

It is sad that many Americans are not financially able to retire when they want to. Most of those who can afford retirement have to do so with a cut in their spending habits.

Whether or not your parents took the time to teach you how to make money and take care of money, it is your responsibility and your right to learn everything you can about it.

Considering how hard most citizens work for money most of their lives, you would think that they would want to learn more about it. Yet, somehow the knowledge of the rich is still considered mysterious, only for those born to wealth, or those who are greedy.

Most Americans are aware of only a fraction of the power IRAs hold. That includes most people who have IRAs. Ask many financial advisers how to set up a checking account for your IRA and they’ll think you’re joking or uneducated.

While many financial institutions use the term self-directed when describing IRA investment choices, they actually mean the ability to choose between a few investment categories such as stocks, bonds, and mutual funds - the ones they’re in business to promote.

What about other investment opportunities such as real estate, funding mortgages, and buying tax certificates?

Taking advantage of these opportunities is simple when you know a.) it is possible, and b.) choose the right custodian who can give you actual control of your retirement assets.

With checkbook control of these assets (run through a business entity), you can take advantage of a hot opportunity in the real estate market, then seamlessly move your money back into more traditional securities, stocks and mutual funds when the real estate peaks.

The IRS allows you to use leverage together with your retirement money, which can increase your returns significantly by enabling you attract larger deals.

Obviously choosing the right custodian for your retirement funds is extremely important so here are a few summarized tips.

Look for a custodian who:
a.) understands that a self-directed fund means you have a checkbook with access to those funds.
b.) understands and can explain a multi-faceted portfolio
c.) Does not restrict your use of leverage money.

Be proactive with your retirement account. Lots of people want your money even more than you do but you are the one who worked for it.

Don’t wait until you retire to learn how to take care of your money. That is when it should already be taking care of you.

Article Source: http://www.articletap.com

Dr. Proactive enjoyed learning from Richard Parker, Financial Advisor, during an interview on The Inside Success Show.. Richard makes financial sense easy to understand. Listen to his interview at InsideSuccessRadio.com

Your final week will be filled with packing, rushing, and trying to arrange the last of your address changes. Your bank, credit card, mobile phone and utilities should all know that you’re moving and on which date you’re transferring to that address – so all that remains now is to make sure that you have new utilities in your new house and that they have a definite date for beginning.

The last week of packing is everything you have left – with an eye to ensuring that you’ll be able to live out of as few boxes as possible and seal the rest.  By now, you’ll probably find that you’ve got a lot of boxes stacked in several rooms and will be sick of the whole moving process.  But in just over a week you’ll be in your new home, unpacking.

Your appliances should be checked and cleaned with seven days to go – you should possibly consider not buying frozen goods at all over the next week, unless you’re sure that they won’t defrost during the move.  Wastage is easily avoided and you can use up all of the items in your freezer without needing to buy more.  You may also want to start making a list of any items you’ll need when you move to your new house – anything you’ve ran out of or will use before the move, so that you can buy more once you’re in your new house.

You should also consider, if possible, cleaning any rooms you’re not going to use much.  Give them a through scrubbing – it will save you having to do it (or hire someone to do it) on the last few days before your move.

You should also order any items notifying people of your new address now – giving them plenty of time to reach you – or plenty of time to be printed and collected.

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I would like to use the money in my IRA for the purpose of purchasing real estate, and I’ve been told I can do it with a self-directed IRA LLC account. Is it possible? The answer is, yes it is …

The IRA can contribute all the cash or a portion of its cash into an LLC wholly owned by the IRA. The direction of your IRA funds as initial capitalization of the LLC does not constitute a disqualified transaction.

Since the self directed IRA owns the IRA LLC, IRA funds can be transferred to the IRA Company in exchange for member units or shares of the LLC. After this funding, both traditional and non-traditional investments may be purchased by the IRA-LLC.

A Key Point to Consider

When owning real estate inside an IRA, all expenses must be paid by the funds in the IRA-LLC account. If you pay out-of-pocket for such expenses as contractors, appraisers, plumbers, taxes or landscapers, then you can open your IRA up to penalties, fees, and taxes starting at the beginning of the year in which you made the mistake.

Assets consolidated under the LLC become the sole asset of the account holder’s self-directed IRA. Once your IRA LLC has been funded, your IRA statement from the custodian will simply reflect one asset, i.e., the LLC. If structured properly, your IRA LLC should not pay any transactional, asset or holding fees, and why should you should it? After all, you are truly self directed and you are the one cutting the checks and paying the bills directly with your IRA checkbook.

The management of a self-directed IRA is a skill the investor can easily learn. Checkbook control of your IRA is something that every savvy investor should consider.

Begin the process of setting up your IRA LLC and feel free to call us at (877) 339-4559. Our company will complete the necessary agreements to complete the process for you.