In note investing, IRAs have been routinely called the single best instrument for building wealth. A self-directed IRA is a retirement account that allows you to put away tax-free money that you can take out in retirement. It basically lets you reduce your taxes on your current income by taking some of your income out of the equation and putting it into an IRA account. A traditional IRA will hopefully, if you keep adding to it and you have good investments, grow and you’ll have a nice pile of money by the time you retire. Another type is the Roth IRA, and the way it works is that you pay the taxes when you put the money in and then you never pay taxes again on that money. It doesn’t seem like there’s any benefit to be paying taxes now at a higher tax rate when you’re working versus paying them later when you’re retired. However, the real beauty of a Roth IRA is that in the real estate world where you can have fast growth in the value of your account, you can start with a small amount of money and, by being collaborative, grow it into a lot larger pile of money. Learn everything you need to know about self-directed IRAs and how it can be used for investing.
Love the show? Subscribe, rate, review, and share!
Join the Good Deeds Note Investing movement today:
- GoodDeedsNoteInvesting.com
- Chris Seveney Facebook
- Chris Seveney Twitter
- Chris Seveney Instagram
- 7EInvestments.com
- 7E Investments Facebook
- 7E Investments YouTube
- Labrador Lending
- Jamie Bateman LinkedIn
- Labrador Lending LinkedIn
- Labrador Lending YouTube
- Notes and Bolts Facebook Group
