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A self-directed individual retirement account is an individual retirement account (IRA) which allows alternative investments for retirement savings. Some examples of these alternative investments are real estate, private mortgages, private company stock, oil and gas limited partnerships, precious metals, digital assets, horses and livestock, and intellectual property. [1]
Additionally, an IRA (or any other tax-advantaged retirement plan) can be funded only with what the IRS calls "taxable compensation". This in turn means that certain types of income cannot be used to contribute to an IRA; these include but are not limited to: Any unearned taxable income. Any tax-exempt income, apart from military combat pay.
A self-directed IRA is a type of IRA held by a custodian that allows investors to purchase certain investments that aren’t permitted in a traditional IRA. These investments include alternatives ...
A self-directed IRA is different from a traditional IRA because the account holder has essentially free reign over the types of investments they can put into it. A custodian limits the investments ...
An author described the traditional IRA in 1982 as "the biggest tax break in history". [2] The IRA is held at a custodian institution such as a bank or brokerage, and may be invested in anything that the custodian allows (for instance, a bank may allow certificates of deposit, and a brokerage may allow stocks and mutual funds).
A self-directed IRA can give workers more control over their retirement plans, but they'll still need a custodian. For the self-employed or the financially savvy, a self-directed IRA offers more ...