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I just converted my Roth IRA over to a self-directed Roth IRA so I can have the flexiblity to buy individual stocks/ETF's/or funds from other companies (currently with USAA). When not invested, the money will sit in a money market account within the Roth.
The more I research these, the more options I see for those with self-directed IRA's, from land to timeshares (provided whatever you buy is not for your personal use). There are definitely fees and risk involved with certain routes, but I am a big boy and want choices with my money.
I was just curious if anyone here uses a self-directed IRA and if so, is anyone 'thinking outside the box' with regard to how/where you invest?
Buying a nice piece of land in a few years with cash from that account, and letting it grow tax free for 15-20 years with the option to sell and keep profits tax-free, or keep and convert to personal use and build a retirement home at 59 1/2, really intrigues me. 90% sure I will keep it in the market, but again, it is nice to have options, especially if the right real estate deal comes along. At a minimum I can add some nice individual stocks to my portfolio if I so desire.
Personally, I have a lifecycle fund with my 401(k) that is matched, and a nice retirement plan, so I am not averse to taking a bit more unusual approach with my IRA.
I was curious what everyone else thought?
The more I research these, the more options I see for those with self-directed IRA's, from land to timeshares (provided whatever you buy is not for your personal use). There are definitely fees and risk involved with certain routes, but I am a big boy and want choices with my money.
I was just curious if anyone here uses a self-directed IRA and if so, is anyone 'thinking outside the box' with regard to how/where you invest?
Buying a nice piece of land in a few years with cash from that account, and letting it grow tax free for 15-20 years with the option to sell and keep profits tax-free, or keep and convert to personal use and build a retirement home at 59 1/2, really intrigues me. 90% sure I will keep it in the market, but again, it is nice to have options, especially if the right real estate deal comes along. At a minimum I can add some nice individual stocks to my portfolio if I so desire.
Personally, I have a lifecycle fund with my 401(k) that is matched, and a nice retirement plan, so I am not averse to taking a bit more unusual approach with my IRA.
I was curious what everyone else thought?
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