When it comes to retirement you want to be able to take out a plan that is most reliable. Individual retirement accounts, otherwise known as IRA retirement plans, are one of the oldest and most common retirement plans. When you choose a self-directed IRA you also have the option of selecting the type of investments you want within a retirement plan. You will also be able to get tax-deferred earnings while still establishing a self-directed traditional IRA.
How Should You Fund a Self-Directed IRA?
Experts such as Mountain West IRA can advise you and how you should fund a self-directed IRA. Typically, this type of funding is established with a 401(k) or IRA rollover, transfer or a contribution with the common technique for this type of funding being a contribution. The ability to transfer or rollover other funds is possible with existing plans such as a TSA, 401(k), 403(b), a defined contribution plan like the 457(b) and other types of traditional IRAs or pension plans. Does your current traditional IRA allow for self-direction? You could also transfer funds to a self-directed IRA so you are capable of choosing your investments.
What Makes You Eligible for a Traditional IRA?
In order to be able to take out a self-directed traditional IRA you must have income that you have earned and desire to save for your retirement on the basis that it’s tax-deferred. You can contribute to this type of IRA until you are 70 ½ years old. In order to get started and make a wise financial choice you should contact the professionals at Mountain West IRA. Using their services will help you to establish a trustworthy self-directed IRA plan. There is no time like the present to get started saving for your retirement.