By J.P. Dahdah, Founder & CEO of Vantage
All investors have heard “it’s not what you know, but who you know” that can help you succeed in the wealth game. Sure, having access to influential and savvy investors can help uncover potential money making opportunities not readily available to the average Joe. In my experience, however, you don’t need to look very far to find beneficial relationships which can dramatically improve your ability to supercharge your IRA. Instead of asking yourself “who do I know that can help me make money and has access to unique opportunities?” and then jotting down that list of people, I would encourage you to ask yourself “who do I know that needs money?” and make that list instead. I am confident that the second list will be much larger than the first. Why is this question more fruitful? It’s simple. Your Self-Directed IRA can be utilized to lend money to others who are in need of capital. It is likely that their need for capital isn’t because they are in a poor financial position. Rather, it could be due to the fact that traditional banks and lenders aren’t providing much needed capital to individuals, entrepreneurs, or businesses these days. This scenario is one of basic economics — there is a shortage of supply and an ever increasing demand for capital. That translates into the market having a willingness to pay higher interest rates for that capital, which of course means higher returns for your IRA. Self-directed investors make it their business to find what I like to call ‘financial friends.’ People they trust, who are not related parties to their IRA, and who have a financial need that requires a solution. Your Vantage Self-Directed IRA can be that solution. Happy Investing!!!