ASHEVILLE, NC / ACCESSWIRE / April 1, 2020 / Can investors exercise "checkbook control" to make retirement investing simpler? That was the question posed at a recent post at American IRA, a Self-Directed IRA administration firm based in North Carolina. In the post, American IRA tackled the issue of using a Self-Directed Single Member IRA LLC. This arrangement-in which an investor holds an LLC with an IRA and not through their own personal ownership-allows retirement investors to make quick and flexible investments thanks to the concept of "checkbook control."
In "checkbook control," explains the post, an investor allows the IRA to own a Single Member LLC. Because the IRA is the only holder of the LLC, the investor holds the ability to control the checkbook. This means that an investor can quickly make retirement investments with the LLC, with the LLC holding title on such assets as real estate.
In a Self-Directed IRA arrangement, notes the post, investors can access a much wider array of investments. Rather than solely focusing on bonds or stocks, investors can turn to assets such as real estate. With a Self-Directed Single Member IRA LLC, an investor can use checkbook control to quickly make these nontraditional investments.
"It's not for everyone," said Jim Hitt, CEO of American IRA, "but it is for people who want more control and freedom when it comes to their retirement investing. There are a lot of experienced real estate people out there, for example, and there's no reason that they shouldn't be able to leverage that experience with all of the protections of an IRA. They just have to know how to do it properly."
The post further detailed how a Self-Directed Single Member IRA LLC can work for investors who want to take more control over their retirement investments, noting that this is not a way around current retirement rules. Instead, it's a faster way for some investors to handle their retirement strategy. But it does require an initial setup period before the flexibility of checkbook control can be utilized.
For more information, be sure to visit www.AmericanIRA.com or call American IRA by dialing 866-7500-IRA.
"About:
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.