ASHEVILLE, NC, CHARLOTTE, NC, and ATLANTA, GA / ACCESSWIRE / March 20, 2020 / What is a SEP IRA? The Simplified Employee Pension IRA is a unique way for people to invest in retirement. But since this arrangement is not a Roth IRA or a Traditional IRA-or even a 401(k)-some investors may find themselves confused by how it works. That’s why a recent post at American IRA-a Self-Directed IRA Administration Firm based in Asheville, NC-detailed how these unique retirement accounts work.
The accounts, American IRA explained, tend to be good for self-employed people or entrepreneurs. Freelancers in the modern gig economy may also find that the SEP IRA works for them. In the case of a SEP IRA, an investor can quickly create an account that they can then contribute tax-deductible money to. That means that the money in these accounts will grow tax-deferred.
The act of self-directing this account, according to American IRA, also opens different possibilities in terms of the asset classes an investor might hold. For instance, an investor can hold real estate within a Self-Directed IRA. Other alternative retirement investment asset classes such as precious metals would also qualify.
“In this post, we wanted to show people that there’s more than one way to shear a sheep,” said Jim Hitt of American IRA. “In other words, there’s more than one way to plan for retirement. And for people who are already independently-minded-such as the self-employed-a SEP can be a great way to store a lot of money for retirement.”
A SEP IRA can be a powerful way for investors to plan for retirement. But American IRA also noted that these assets should be considered separate from one’s personal property, as the rules for a SEP IRA will also require that retirement investors do not use these assets for personal purposes, such as renting out a retirement investment property to a disqualified person such as a spouse or a son/daughter.
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term “they” refers to American IRA, located in Asheville and Charlotte, NC and Atlanta, GA.”
SOURCE: American IRA, LLC
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