By J.P. Dahdah, Founder & CEO of Vantage
Are you among the many who have watched your retirement portfolio ebb and flow with the stock market, without experiencing meaningful returns?
If so, you’re not alone because most people just place their money in an account and forget about it for years.
Unfortunately, this strategy can yield horrible returns and leave you with a smaller nest egg than you need when you retire. But there is a way to embrace your financial destiny and take control of your financial future.
In this post we will touch on the Self-Directed investor’s mindset that is needed to achieve financial success and develop a self-directed portfolio that will provide for your retirement.
1. Thought, Education and Planning. Think of investing your hard-earned income as a business which requires thought, education and planning. Just as you wouldn’t glance over a few resumes and make a half-hearted hiring decision in your business, you need to spend time analyzing potential investment opportunities and evaluate these situations as you would any business opportunity.
2. Embrace Your Financial Responsibility. Once you come to the realization that you are the only person who is really concerned about your long-term financial success, you can claim responsibility for your investments. Investment opportunities do exist in stocks and bonds, but there are also a plethora of alternative investments such as real estate, precious metals, private notes and private company opportunities, that offer diversification and stable returns. The key is to understand that you are the individual responsible for generating sufficient retirement income, not a mutual fund or an investment manager you have met a handful of times. By placing the onus on yourself you can direct your own financial destiny.
3. Know the Tools. Establishing a Self-Directed IRA can be the first step in taking control of your financial destiny. This type of IRA allows you to actively manage your portfolio, with the goal of finding multiple ways to earn returns beyond traditional stocks, bonds, annuities and mutual funds. Self-Directed IRAs provide access to alternative investments and allow you to create diversified portfolios that can generate optimized, non-correlated, risk-adjusted returns to Wall Street.
By changing your investor mindset, you can take control of your financial destiny and generate the appropriate returns that will allow you to retire comfortably.
For more information on how you can discover your IRA investing alternatives, contact our team at (866) 459-4590 or ClientService@VantageIRAs.com.