You Are One Of Very Few
You are looking for an IRA Rollover Self-Directed Plan? Although you may be one of the few, it is possible that our numbers will increase. While only 5% of retirement investors choose to be self-directed, they can earn up to 100% more than the average account holder. You can see about holding gold in an IRA for more information.
The first steps of self-directing are educational. Learn which custodial companies provide self-directing. It is important to compare their fees and allowable investment options. That’s quite a bit of research.
Very small reasonable fees
The best companies I found charged a minimal set-up fee and a reasonable monthly fee. The worst companies can charge per-transaction charges that can really hurt your profits. The fine print is important, so make sure you read it.
It is also important to understand the rules governing IRA Rollover Self-Directed Plans. What are the banned transactions? What are the permissible investments according to the current tax laws You can find out a little more here.
Most prohibited transactions do not involve you, your immediate family member or “directly”. You could use the account to buy stock or a house for your son. Another example is to use the account to purchase stock in a company where “you” are the main stock-holder.
The list of permitted investments is longer than the ones that are prohibited. The account can’t be used for investments in antiquities, foreign companies, property, collectibles or jewelry (except gold bullion), or other personal items.
The account can be used for investment in commercial and residential real estate, raw lands, mortgage notes, LLCs and tax liens. You can also use it to make foreign currency or stock and bond purchases.