How to Setup a Self-Directed IRA in 2024

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Chapters:
0:00 Intro
0:20 What are Self-Directed IRAs?
0:55 Benefits of SDIRAs
2:05 Traditional and Roth SDIRAs
2:49 Contribution Limits
3:20 Forbidden Investments in SDIRAs
4:39 How Do SDIRAs Work?
5:43 Who are SDIRAs For?
6:50 How to Make Withdrawals from SDIRAs
7:46 Choosing Which Assets to Put into Your SDIRA
8:40 SDIRA Fees
9:04 Outro

Self-directed IRAs are a great retirement plan option for people who do not want to be limited to traditional investments. With self-directed IRAs, you can add many different alternative investments to your account such as precious metals, real estate, and even cryptocurrencies like Bitcoin or Ethereum.

In this video, tax expert, Karlton Dennis explains everything you need to know about self-directed IRAs, or SDIRAs as they are commonly referred to. He covers topics such as the benefits of SDIRAs, whether they are available as traditional or Roth accounts, what their contribution limits are, and more.

If you are someone who wants to be able to add many different types of investments to your retirement plan besides stocks, bonds, and CDs, then SDIRAs could be a great option for you. This video will teach you all of the basics of getting started with an SDIRA. So, if you want to learn about self-directing your IRA, then this video is for you!

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#selfdirectedira #sdira #retirementplanning