By J.P. Dahdah, Founder & CEO of Vantage
Do you include retirement planning in your New Year’s resolutions?
With 2019 behind us, we can begin to focus our attention on the new list of goals for the upcoming year. For some of you, the tradition of writing down your New Year’s resolutions has become a dreaded routine. Why? Because your list always seems to look the same every year, and you never seem to be able to stick to your grand plan for twelve months straight. To get better results, you have to change the unsuccessful pattern you are currently in.
To add a little pizzazz to your list this year, I ask that you add the following resolution for 2020: “Learn one more alternative investment strategy.”
Why is this so important? Well, whether you are concerned about your retirement planning right now or not, believe me, you should be.
The majority of people I talk to have very ambitious retirement goals, but they do not take the necessary steps to accomplish them.
If you’re reading this article, you will most likely be an active alternative asset investor or have high hopes to become one.
The sole purpose of investing is to build wealth over time to become financially independent.
Well, retirement plans offer tremendous tax advantages that can help you accelerate that process due to their tax-favored benefits. Once you have acknowledged that the most robust investment vehicle to use to build wealth and save taxes is a retirement plan, the next step is to select the asset class you feel comfortable with and enjoy investing in.
If you’re already investing in real estate, for example, perhaps you could learn about investing in private companies or how to become an effective private lender. Again, if you are reading this newsletter, I would have to guess you prefer something other than stocks, bonds, and mutual funds with at least a portion of your nest egg. Self-Directed IRAs allow you to purchase virtually any private asset you want in a tax-advantaged environment! No more stressing over the impact of capital gain taxes on your investment return. Another reason to increase your financial literacy about alternative investment strategies is to create a well-diversified retirement portfolio. The most common answer I receive when I ask an investor how they feel about their retirement plan is, “it hasn’t done anything in years.”
2020 is the year to change all that!
So, get out of your comfort zone, increase your financial literacy about at least one more alternative investment strategy within your Self-Directed IRA and make 2020 your best investment year ever.
Happy alternative investing!
For more information on how you can discover your IRA investing alternatives contact us
You can also schedule a time for a call that is most convenient for you by clicking here.