Retire Rich with Your Self-Directed IRA: What Your Broker & Banker Don't Want You to Know about Managing Your Own Retirement Investments

One of the main goals of author Nora Peterson, in the publishing of this book, was to share information in an easily understood format to increase the awareness of the multiple options available to retirees and future retirees when considering how to invest and protect hard-earned money accumulated over a lifetime. The book addresses a wide range of critical aspects to be considered when planning for a long-term retirement. It touches upon subjects we have heard about, some that we haven't, and yet others that should be considered when planning for our future and those of our heirs. Taking control of our financial future * Movement of retirement funds into a self-directed IRA * Understanding the roles and responsibilities of an IRA custodian, trustee, and administrator * Creating a team of professionals to maximize income-producing opportunities while effectively managing risks - especially as it pertains to unnecessary tax penalties which can and should be avoided Non-Traditional IRA investment options * Real Estate * Purchase and sale of mortgage notes * Owning a business within an IRA or participating in a business partnership * Buying precious metals Managing distributions from our IRA * Circumstances permitting withdrawals prior to age 59½ without paying a 10% tax penalty for early withdrawal * Withdrawals to pay for health insurance when unemployed, without incurring a tax penalty * Withdraw $10,00 to purchase a first home for a child, grandchild, or parent without penalty Asset Protection and Stretching Your IRA * Designation of a single beneficiary; and * Designation of multiple beneficiaries to minimize tax risks Getting to the "point" according to Nora Peterson: "The point is getting through this life with the maximum comfort and security you can arrange and ending up with at least a little left over when you're finished." That is our intended goal, isn't it?

Are you 20-40 years old? Do you have $100,000 in liquid assets? Does your company provide a 401(k)? How about IRA's? Are you a current contributor to one? Would you like to retire in comfort, preferably before you are 70? If you answered yes to any of these questions, then this is the book for you. I'll admit up-front that I only answered yes to three of these myself - and the liquid assets and 401(k) were not them. I bought this book, but I was afraid it would be filled with technical mumbo-jumbo that would make my eyes glaze over in defeat. Luckily that was not the case at all. In fact, I read this book in less than 24 hours, and plan on reading it again and again and . . . Peterson starts out slowly, explaining assumptions and terminology. Then we get to meet Joanne Moneymaker (that's Jo for short) who, after being a victim of corporate downsizing, has to decide what to do with her 401(k) funds. The author walks her through all the choices, explaining them in simple language with plenty of illustrations and charts - and the benefits and disadvantages of each. For those of you who are more advanced than I, you can skip the first few chapters and plunge right on in to the hard numbers. Penalties, taxes, and general IRS red flags are covered and warnings are peppered throughout. That being said, this book walks a person through taking charge of their own retirement and finances by moving to a self-directed IRA and using said funds to: 1) Buy and sell real estate - traditional versus nontraditional real estate sources 2) Become a landlord 3) Become a lender 4) Owning a business 5) Buying precious metals Additionally, Peterson covers areas within these divisions such as risk management, repossessions, REO properties, subcontractors, and credit risks. The book ends with planning for distributions and quite a bit of information about estate planning. Unfortunately, I am not in a position where I can go out and buy properties or make loans or buy precious metals. However, now I know what is out there and what I need to work towards. Whether you're just starting to plan your retirement or are well into the process, there is something here for you. Call it IRA's demystified!

It's a revelation! I happened upon this book and it revealed to me retirement options that I had no idea existed. The author, Nora Peterson, explains that unlimited opportunities exist for increasing the value of retirement accounts through the use of a self-directed IRA. Instead of traditional approaches to investments, she says, consideration should be given to a self-directed IRA . . . a method of investment that is significantly more flexible than conventional IRA and 401(k) plans, conforms to IRS rules, and offers the investor full control over his or her accounts. The book compares the results of investing using conventional strategies with the self-directed IRA and explains the route and rules for setting up a self-directed IRA. Ms. Peterson also describes investment options that I had not before considered, like investing in real estate-secured notes, real estate purchase options and precious metals, and includes chapters on estate planning and planning for distributions for the IRA account. This books presents a novel approach to retirement investments, and presents it comprehensively. It's a more than worthwhile read.

Retire Rich with Your Self-Directed IRA: What Your Broker & Banker Don't Want You to Know About Managing Your Own Retirement Investments by Nora Peterson, published by Atlantic Publishing Group, Inc. Rating: 5 stars out of five. If you've ever lost money in the stock market while relying on a broker, banker, or other financial advisor, this book is for you. Retire Rich with Your Self-Directed IRA describes an alternative to letting others manage your retirement investments, the self-directed IRA. This book explains in 345 pages how to use an IRA, usually a Roth IRA, to build wealth through your own control. It covers setting up an IRA, the kinds of funds to invest, and how to move funds from a standard IRA to a self-directed IRA. It also describes how to manage your investments while allowing an administrator to handle the day-to-day paperwork, the laws of which to be aware, and how to avoid pitfalls in very specific advice. Insider secrets are included. The author, Nora Peterson, has been involved in investing in financial markets for more than 30 years. In this excellent resource, she discusses a wide range of investments brokers don't offer and estimates potential returns. The returns she projects are much larger than earnings from stock market investments would be. In addition, she explains that there are no taxes on investment income from a Roth IRA, because the investment has already been taxed. This results in significant tax advantages of which I had never been aware. Everyone planning for retirement should read this book. It opened my eyes!

Being self-employed and just out of graduate school, I knew very little about IRAs, self-directed, Roth, or otherwise, before I picked up this book. In fact, the thought of learning about them was something I absolutely dreaded. Fortunately, I found Retire Rich With Your Self-Directed IRA. Nora Peterson is a genius in presenting the information through the eyes of 30-something Jo Moneymaker, who learns the best way to invest from Bill Cash. Through narrative, Peterson thoroughly highlights all the important considerations to make when choosing to have a self-directed IRA, including what is legally allowed when having a traditional IRA versus a Roth IRA. Several chapters also delve into real estate investing, including becoming a landlord and investing in real estate-backed notes. While I now have a much better understanding of self-directed IRAs, I definitely understand the need for an administrator, which Peterson covers in-depth, because there are so many rules and tax implications that make the chance for mistakes too great without the administrator. Easily a five-star book! A refreshing read - Peterson has taken a somewhat dry and confusing subject and has brought it alive through her main character, Jo, making it well-worth the read.