Self Manage Self-Directed IRA??

[Sophia Harris]

Hello, I'm looking to establish a Self-Directed IRA to make investments in rentals. Is it worth going through a professional company to establish and manage the IRA, or, with a bit of studying, is it worth saving on the fees to manage it myself? Is there a resource that helps guide me so I don't break any rules?

Thank you in advance!!!!

-Sophia :)

[Brian Eastman]

@Sophia Harris

Self-directing your retirement plan is definitely not a DIY concept.  You can work with a professional to create a structure that puts you very much in control of the investing, but always want to have someone on your team who can help you to navigate the IRS rules.

For investments like rental properties that tend to involve a lot of transactions, some of which may be time-sensitive, there will be significant benefits with a plan that offers checkbook control such as an IRA LLC or - if you qualify as self-employed with no full time employees - a Solo 401(k).