Wednesday, December 17, 2008
I took my concerns to a financial advisor. He suggested that I change my retirement plan from my company's 401 K into a self-directed IRA. He said that with the Roth IRA I can choose where my money goes instead of having the company make the choice for me. Not only could I make the choice of where I wanted my money to go, but after I placed it into this kind of account; I would never have to pay taxes on the money again. Can you imagine what that means? I am sure that by the time I retire, we will have seen a huge jump in the income tax. But I won't have to worry about it, because the income from my retirement will not be taxable.
My counselor advised me that buying real estate with Roth IRA is the best choice in today's wavering financial market. Property represents a tangible item that generally sees a rise in its value over time. Today, prices are low. The time is ripe to purchase property. Soon, the government's plan to shore up the housing market will kick into effect and property prices will regain their momentum. The return on my investments is sure to go over the 8% return that I am seeing today. Will a roll over IRA buying real estate really be an answer to my current financial woes?
I have decided to take my financial counselor's advice and have chosen to take my 401k and use the money to invest in a roll over IRA buying real estate. I look forward to sitting back and watching my investments grow. Buying real estate with Roth IRA seems like the right way to go for me.
