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How To Find The Best Self Directed IRA

A self directed IRA is a great way to save money for your retirement. As the title states you will be the one in control of Smart Business Investmentshow your money is invested, but by law you will need to find what is called an IRA custodian or qualified trustee. Your IRA Custodian will hold your IRA account on behalf of yourself. The IRA custodian will have access to the funds in your IRA, will help you to maintain the IRA, will make transactions for you, will fill out and maintain all paperwork regarding the IRA account, they will file all IRS reports, they will issue you statements, and they will assist you in your decisions. The IRA custodian will also tell you if you are trying to make a transaction is not allowed and for what reason. All of these duties are very important, which means you will need to find only the best self directed IRA custodian.

Since you are required by law to hire an IRA custodian, to help maintain your self directed IRA account, you will need to ensure you choose an IRA custodian that is trustworthy and will be able to maintain your IRA account with only the best customer service. While you are looking for the best self directed IRA custodian you will also need to keep your eyes out for scams and con artists.

According to Forbes report about two percent of the 4.6 trillion IRA’s are self directed, and the number only continues to grow. Many people are leery of the stock market and have decided to take matters in their own hands by investing in a self directed IRA. The number of self directed IRA’s have increased and so have the number of scam artists poising as only the best self directed IRA custodians.

The money that is in your IRA is your money that you worked hard to put away and invest for your retirement, which is why you will need to do a lot of research before switching your self directed IRA custodian or finding a custodian to help you begin a self directed IRA.

Before you give away important personal information you will need to try and find only the best self directed IRA custodian to help you complete all of the correct documents and maintain your self directed IRA transactions. If you are looking for the right IRA custodian on the internet you will really need to ensure that it is not a scam and they truly are an IRA custodian to prevent scams such as identity theft.

1 Comment

  1. Candy Smith
    April 4, 2013 at 4:20 am #

    With the increasing numbers of scams nowadays, it is indeed important that you make some research on IRA custodians. This is to avoid scams that might lose your hard earned money. But I wonder what would be the criteria in finding a great IRA custodian.

    Reply

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