4 IRA Investment Options You Likely Weren’t Aware Of

Wednesday, May 29th 2024

You will find a wide variety of investment options on the market today and a good number of those are IRA accounts. A lot of these options can be volatile with the fluctuations in the market recently. With those fluctuations in mind, it is important to choose an IRA investment option that will serve you well. Take a look at these four, less common, IRA options that you probably didn’t know about.

Real Estate IRAs

A commonly missed type of IRA investment is real estate IRAs. These are retirement accounts that are funded by real property. You will find it easiest to convert your IRA to real estate via a Roth IRA account but numerous types of accounts can be converted into real property.

There are protocols in place on the proper way of converting an IRA account to being funded with real property. Before making the switch make sure that you consult with a professional to ensure you are following all of the steps.

New IRA Limits Via Starting a Business

IRAs have annual deposit limits that are set by the federal government. These are there to help prevent people from abusing the tax benefits of these savings accounts. But did you know there is a completely legal way around the annual deposit limits?

Starting a business allows you to have different options when it comes to depositing your money into a retirement account. This is because you can now have a business IRA account instead of a personal one. This is one of the tricks that many rich business owners have turned to in order to make more money and shelter the money they already have.

Roll Over Investment Accounts

A lot of people are under the impression that retirement accounts are set in stone. While this may appear to be the truth from the outside, there are a lot of things that you can do with your IRA account. One of them is rolling it over into other retirement investment accounts. A roll over is simply the process of taking the account you have and moving it into another type of account or another type of funding source.

Here are some reasons you might want to look at an IRA roll over:

  • You have started a new job and your old IRA account is sponsored by your old company.
  • You do not need to take distributions yet and still want the tax benefits of a retirement account.
  • You want to pass your money onto beneficiaries after you die and want to protect it until then.
  • You want to diversify your portfolio to protect your money.

Precious Metal Based IRA Accounts

Precious metal based IRA accounts are one of the least known retirement accounts out there. These accounts are funded by real precious metal instead of stocks or other paper investment options. By being backed by real metal your investment is tied to something physical and less apt to change on a whim.

There are several different types of metal that you can invest into a precious metal IRA:

  • Gold
  • Silver
  • Palladium
  • Platinum

The most common investment option when it comes to precious metals is gold. Gold has become more than just a hedge investment and is now something that people use to grow their IRA accounts. Not only do you get the growth of the gold but you also get the tax deferred nature of an IRA account.

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