By J.P. Dahdah, Founder & CEO of Vantage
With 2013 behind us, we can begin to focus our attention on a new list of retirement goals for the upcoming year. For some of you, the tradition of writing down your New Year resolutions has become a dreaded routine. Why? Because your list always seems to look the same every year, yet you cannot seem to stick to your grand plan for twelve months straight.
In order to get better results, you have to change the unsuccessful pattern you are currently in. In an effort to add a little pizzazz to your list this year, I ask that you add the following resolution for 2014: “Learn more about Self-Directed IRAs.”
Why is this so important?
Whether you are concerned about your retirement planning right now or not, believe me, you should be
The majority of people I talk to have very ambitious retirement goals, but they are not taking the necessary steps to accomplish them. If you are reading this article, you are most likely an active alternative asset investor or have high hopes to become one. The sole purpose of investing is to build wealth over time so you can become financially independent, right? Well, retirement plans offer tremendous tax advantages that can help you accelerate that process due to their tax-favored benefits.
Once you have acknowledged that the most powerful investment vehicle to use to build wealth and save taxes is your retirement plan, the next step is to select the asset class you feel comfortable with and enjoy investing in. Again, if you are reading this newsletter, I would have to guess that you prefer something other than stocks, bonds and mutual funds. Self-Directed IRAs allow you to purchase virtually any asset you want in a tax-advantaged environment! No more stressing over the impact of capital gain taxes on your investment return. The most common answer when I ask an investor how they feel about their retirement plan is “it hasn’t done anything in years.”
2014 is the year to change all that!
So, get out of your comfort zone, increase your financial literacy about Self-Directed IRAs and make this year your best investment year ever. Happy Investing!