Accounts from pension plans, like 401(k) accounts, may be made via a direct transfer to a Roth IRA, rather than having to go through a Traditional IRA. This is a great feature since the elimination of extra steps will save you time, which ultimately saves you money
Another feature now available is to have your tax refund sent directly to your IRA. Isn’t technology and change great? To be able to add to your yearly contributions in your wealthy IRA, you can simply have your tax refund sent and contributed right away, without any problems.
This is a great feature for anyone who is not sure that once they get their refund that they will eventually contribute to their IRA on their own. It also earns interest more quickly, rather than transferring from the IRS to you, to your bank account, and then waiting until the time comes for you to contribute it on your own.
More interest equals a wealthier retirement. And as of 2007, you are allowed to make a direct tax-free charitable donation from your IRA. This avoids taking the distribution as taxable income before making a donation. Also, these donations do not count toward the maximum limit on donations allowed.
This is a great feature that allows you to share your wealth with others, without the double dip taxation that you used to pay by being taxed on the money when you earn it and getting taxed again when you withdrawal it. No more of that. Feel free to give and give freely as much as you want, tax free from your IRA.
These features of a self-directed or Roth IRA will help you continue to invest in your wealthy IRA and your financial future. Not only that, but taking control of your retirement through a 401(k) and a self-directed IRA invested in Real Estate will provide a cash-flowing investment in the short run and an appreciating asset in the long run.
Paul R. Whitacre is a managing partner at WealthyIRA.com. Our vision is to teach others to invest their IRAs and 401(k)s in the deepest discounted Real Estate in decades. Check out more at our http://www.WealthyIRA.com blog and follow us on Twitter at http://www.Twitter.com/WealthyIRA
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