We as Americans have seen our economy drop to one of its lowest points. The United States has seen the unemployment rates skyrocket causing many people economic strife. This strife and financial burden have caused many Americans to take some extremely drastic measures.
I have encountered people cashing in their 401K, 403(b), Keoghs, and SEP plans just to cover their monthly expenses. Many times this type of reaction isn’t needed. There are many ways to utilize retirement accounts that many people do not know about or understand what can be done.
One of the easiest ways to help people save their retirement accounts is by doing a full evaluation of their current status. I know a company that can run a full scenario of what your needs are at your current state and ultimately help you come up with a solution that is beneficial to you not only today but also for the future.
The biggest misconception that I run into is that people do not realize that their retirement account can be rolled over into a Self Directed IRA (SDIRA) and be used for many other things without causing tax implications including Real Estate Investments.
Rolling over a retirement account into a SDIRA and placing it into a LLC will allow Real Estate Investors multiple options. Using your SDIRA you can buy a business, buy into a business, purchase a franchise, and of course buy some real estate. However, you must do your research when buying real estate. You should never make a purchase with out using good real estate comps, which we offer at InvestorCompsOnline.com.
Since your SDIRA is actually part of an LLC you will be actually using the money that will benefit the IRA account and avoid all tax implications. What could be better than using your retirement account to be your own boss, be able to pay your bills, and still grow your account for the future?
For more information regarding using your retirement accounts, how to roll your retirement accounts, or if this is a plan for you, attend our webinar Thursday Feb 25, 2010 at 9 pm EST when we have John Stevens to explain how to benefit from your retirement account.