ASHEVILLE, NC / ACCESSWIRE / November 11, 2020 / What is the SIMPLE IRA? Given its name, it is easy to assume that more investors might understand this arrangement. But recently, American IRA-a Self-Directed IRA administration firm based in Asheville, NC-took to its blog to clear the air about the SIMPLE IRA, define some of its features, and explain which types of investors might be best suited to using a SIMPLE IRA.
The SIMPLE IRA, as the post notes, stands for a Savings Incentive Match Plan for Employees. As the post notes: “This type of plan is simple, easy to run, and usually comes with low operational costs.” It also notes how investors can decide how much the company will contribute to its employees.
The post notes how the Self-Directed SIMPLE IRA is generally targeted at small business with a few employees, but no more than 100. The SIMPLE IRA plan is designed for small businesses of that size, and typically is not ideal for large corporations looking for retirement plans. And, according to the post, the Self-Directed SIMPLE IRA makes for a good retirement benefit that can incentivize talent to join the company thanks to its retirement plans.
“The SIMPLE IRA is a great vehicle, but often one of the most misunderstood ones,” said Jim Hitt, CEO of American IRA. “A lot of people recognize that it’s a powerful way to put aside money for retirement, but they don’t realize that even small businesses can do employee matching. That’s where a SIMPLE IRA can come in.”
The post also notes that Self-Direction means that investors will have opportunities to put money in nontraditional retirement assets, which includes real estate, tax liens, private notes, LLCs, and more. This means more independence for people who want to take control over their financial destiny, especially as it relates to building a retirement plan.
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
View source version on accesswire.com: