Self-Directed IRA administration firm American IRA recently released questions to FAQs about Self-Directed Traditional IRAs.
ASHEVILLE, NORTH CAROLINA, US, July 22, 2023/EINPresswire.com/ — What are people asking most about Self-Directed Traditional IRAs in 2022? That was the subject of a recent post at American IRA. There, the Self-Directed IRA administration firm turned its blog’s attention to three key questions about Self-Directed Traditional IRAs and how they can be used by investors in the context of modern investing.
Self-direction, American IRA noted, is a style of investing in which the investor takes control over the direction of the retirement account. By working with a Self-Directed IRA custodian, the investor can direct said custodian to all sorts of possible and legitimate retirement investments, ranging from real estate investments to precious metals. As the Self-Directed Traditional IRA is the oldest standing style of account in the U.S., it makes sense that many investors would still consider this account when self-directing.
But why? What are the advantages to Self-Directed Traditional IRA investing when there are options like Self-Directed Roth IRAs or Self-Directed SEP IRAs? In the case of Roth IRAs, the contribution limits will be the same, but investors can shift to an after-tax contribution strategy. That can work for people who anticipate having a larger income in retirement. For SEP-IRAs, it may require having a business, which not every investor does have.
However, American IRA’s recent post talked specifically about Traditional IRAs—their limits, their advantages, their specific quirks. And as it turns out, they’re fairly straightforward and can be highly advantageous for Self-Directed investors and traditional style investors alike.
In the post, American IRA tackled three questions, such as “are there any income limits for contributing to a Self-Directed Traditional IRA?” The answer to this one is that there is not an income limit for Traditional IRAs, but there may be one for Roth IRAs—and American IRA recommends consulting a tax professional before considering these questions.
For more information about Self-Directed IRAs and what they mean for investors, seek out the post at www.AmericanIRA.com or call American IRA by dialing 866-7500-IRA.
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Article originally published on www.einpresswire.com as Frequently Asked Questions About Self-Directed Traditional IRAs