Bob Carlson, of Forbes Magazine, has made available for download his article, Know The Risks Of Self-Directed IRAs, published in Forbes. The abstract is as follows:
A coalition of regulators recently issued warnings about the risks of some self-directed IRAs that many investors aren’t aware of.
There are a couple types of self-directed IRAs. Most mutual fund companies and brokers say their IRAs are self-directed. By that, they mean that your IRA can buy any investment on their investment platforms, which usually means all publicly-traded securities.
A true self-directed IRA may acquire any asset that IRAs are permitted to own under the tax code. Under the code, an IRA can own anything other than life insurance and collectibles. The list of permissible investments includes non-publicly-traded assets, such as real estate, mortgages, small businesses, and more.
Click here to view Bob Carlson’s summary of Know The Risks Of Self-Directed IRAs
Posted by Kaitlyn Bare, Associate Editor, Wealth Strategies Journal.