Many people are at risk of missing out on all the benefits that a self directed IRA can mean for their retirement funds if they listen to recent misinformed media reports, says The IRA LLC Partner.
Austin, TX -- (SBWIRE) -- 05/16/2012 -- Individuals researching their IRA account options are likely to have been deterred by recent media criticism of such accounts. Specifically, with the recent negative media coverage targeting self directed IRA accounts back in April. These are retirement accounts that offer greater privileges and flexibility. They allow investors to invest in a diverse range of investment options including gold and silver bullion, oil and gas, real estate and private business.
But, if individuals take the media’s unfavorable coverage word as gospel, then their retirement plans are likely to suffer, according to the IRA LLC Partner.
“In recent reports, the media has gone as far as conflating self directed IRA accounts with investment scams as if they are one in the same. But, this is certainly not the case!” said an IRA LLC Partner spokesperson. “The media have even decided to lump self directed IRAs together with investment scams and ponzi schemes. This association can lead the uninformed reader to believe that self directed IRA accounts should therefore be avoided, and as a result such individuals could miss out on all the benefits that this IRA can offer them, especially if they opt-in for checkbook control.”
The benefits of an IRA with checkbook control include:
1. The ability of individuals to gain significant control and diversity over their investment options.
2. Money saved as a result of bypassing custodial feels and bureaucratic red tape.
3. Full IRA checkbook writing privileges.
It is these factors make self directed IRAs with checkbook control so advantageous to account holders, according to The IRA LLC Partner.
But, if self directed IRAs can offer all these benefits, then why the media criticism? According to The IRA LLC Partner this is because the media reporting on the subject matter is misinformed.
“It just takes one misinformed media outlet to spin a story that mentions a self directed IRA in the same breathe as a scam.”
“With one media outlet trying to out do another, before you know it all the ‘repeaters’ in media would rather sell the sizzle versus the steak and sensationalize the story rather than research the facts that were feed to them.
One will also notice that not one of these media reports has actually offered any actionable information on how an individual can identify the scammers, but have just decided to lump all self directed IRAs into this group,” says The IRA LLC Partner.
The IRA LLC Partner is also keen to shed light on another area that is thought to have caused confusion. According to the company, many of the individuals caught up in the alleged investment scams did not have checkbook writing privileges for their account. This resulted in the blame being directed towards the IRA custodians who handled their transactions.
“It is thought that many of the individuals involved in these alleged investment scams did not actually have a checkbook IRA account, but a conventional self directed IRA account,” said the company spokesperson. “The difference is that with a conventional self directed IRA account a custodian acts a gatekeeper for every transaction. But with a truly self-directed IRA account (as provided at The IRA LLC Partner) the holder has full checkbook writing privileges and is completely free from any custodial influence. This eliminates much of the confusion if an errant investment decision is made.”
For more information on self-directed IRAs visit, The IRA LLC Partner website at http://www.irallcpartner.com where a free 40 page report titled “IRA Secrets The Media Doesn’t Want You To Know” can be downloaded.
The IRA LLC Partner can also be followed on Twitter: https://twitter.com/#!/ira_llc_partner
About The IRA LLC Partner
The IRA LLC Partner specializes in structuring self directed IRAs to enable individuals to gain greater control and flexibility over the retirement funds and gain full checkbook writing privileges. Account holders can then diversify their funds in any way that they see fit. For more information visit IRALLCPartner.com.