The age-old question related to Self-Directed IRA plans….which ones can be self-directed? While there are some IRAs that, practically speaking, will not be self-directed, it doesn’t mean that they can’t be. You just don’t find it that often. Many folks just assume that if it is an IRA, only a Traditional IRA and a Roth IRA can be self-directed.
In reality, any IRA can be self-directed. This would include the following:
1) Traditional IRA;
2) Roth IRA;
3) SIMPLE IRA; and,
4) SEP IRA (Simplified Employee Pension).
That is it. It is not a question as to IF and IRA can be self-directed, but rather which type of IRA best suits your needs…self-directed or not.
As always, this information is provided to be educational in nature. The information is not intended to be, nor should it be interpreted as, any form of tax, legal, financial or investment advice. Always consult your respective professional for all assistance.