Dani Lynn RobisonWealth Activator | Real Estate Investor & Speaker | Helping People Create Wealth With Simplicity, Trust & Impact

Self-Directed IRA vs Retirement Account 💸 #selfdirectedira #retirementaccounts #thefreedomshow

23 Feb 2024

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This is a YouTube video titled "Self-Directed IRA vs Retirement Account 💸 #selfdirectedira #retirementaccounts #thefreedomshow" containing a discussion explaining the differences between self-directed IRAs and traditional retirement accounts, focusing on investment options and regulatory restrictions. The content features at least two speakers discussing financial topics related to retirement investing, recorded in February 2024.

Explain the difference between self directed IRA and a retirement account.
The best way to think about it for the audience is self directed is an industry term. It just tells the investor that they have the ability to self direct their retirement funds into any type of asset that they deem as the best fit for their portfolio. Now, it is important to caveat that with the notion that there are assets that you cannot invest in with your self directed ira. So no artwork, no collectibles, no Beanie babies or pogs. You can't invest in alcoholic beverages and be a member of an S corporation with your ira. There are certain individuals that you cannot transact with. These are called prohibited transactions. Ultimately, the tax code going back to 1974, the ERISA act, was exclusive rather than being inclusive. So there's a lot more that you can do than you can't do.