Traditional IRAs are used more than self directed IRAs.
Individuals are afraid that they do not contain enough knowledge to properly execute their own IRA.
People feel more comfortable having a bank control their investing through a traditional IRA.
It is very easy to invest in a self directed IRA.
One great thing that people can invest their money with in this IRA is real estate.
The amount of the account can also grow faster than a traditional IRA.
The process of switching from a traditional IRA to a self guided IRA is very easy.
The process can be easier if individuals find the right custodian.
The custodian can make the process easier because he or she files all of the necessary paperwork.
The self directed IRA is managed by the custodian.
Investors instruct what they want the custodian to do and he or she does it.
The IRA is also kept safe by the custodian following IRA regulations.
Custodians can offer their knowledge to their investors.
If investors need help in deciding investment options, custodians are the ones to turn to.
Custodians offer advice when asked, but they follow what their clients say.
Traditional IRAs are the total opposite.
All of the decisions on the IRA investments are made by the brokers or banks.
Individuals have no choice and are subject to the brokers or banks choices.
Only in a self directed IRA can real estate be invested in.
Family is not aloud to live in the real estate.
The profit from the real estate must be used for the IRA.
If it is used for personal gain, then it is no longer qualified as an investment in the IRA.
Individuals can have control over their futures using this IRA.
They have the choice of investing in risky or conservative accounts.
Individuals can build and modify this IRA to achieve what they want in their retirement savings.