“Whatsoever your hand findeth to do, do it with thy might” (for there is no work, nor device, nor knowledge, nor wisdom, in the grave, whither thou goest)” Ecclesiastes 9:10. Since your IRA is primarily to benefit you prior to the grave, it would make sense that your hand (or efforts) be trained on making your investments grow.
Why should we not be as diligent with our investments as we are with our labor? After all, the Bible also says that for everyone to whom much is given, of him shall much be required. If we have the talent to make and save money, shouldn’t there be an additional requirement to invest it wisely?
I know that I get particularly uncomfortable when I have funds that are not invested, or those that are under-performing their potential. For example, while many may be comfortable in owning CDs that are paying a rate of 2%, I would be distraught knowing that better yielding choices were available of which I did not take advantage. That is the beauty, and responsibility of a self-directed IRA – it is up to you to seek the best balance of risk and reward, not a money manager or a mutual fund.
Retirement, and the costs of doing it comfortably, let’s face it, can be expensive. Make it a priority to surround yourself with advisors that can help you in your choices. If you are interested in real estate, introduce yourself to local real estate investment clubs, Realtors, property managers, and others who live in that world daily. If you want to invest your IRA in emerging businesses, speak with entrepreneurial organizations, CPAs, and attorneys that may be aware of new opportunities.
Come to NuView IRA client events, and use the ideas and energy of others to help propel your dream of retirement forward. After all, we all age at the same rate, at least chronologically, and sooner or later, we will stop working and depend on our savings. Use self-direction as an important tool to get there – thousands of our clients are doing it “with all their might”.
All the best in your investments…
Glen
