How a Checkbook Control IRA Can Empower Your Investment Strategy
Ever write a check for something at the drop of a hat? It can be a powerful feeling. It means you not only have the means to do it, but that you have the flexibility and control over an investment account—so much so, in fact, that you’re able to seize an opportunity when you see it. But what not many people realize is that it’s possible to do this from an IRA. It’s known as a Checkbook Control IRA—and it’s worth taking a little time to explain how this can put your retirement investment strategies into overdrive.
What is a Checkbook Control IRA?
A Checkbook Control IRA allows you to directly control the investments in your retirement account, meaning you don’t have to wait for custodian approval to act on a great deal. If it sounds fun, it is. But it’s also practical.
With a traditional Self-Directed IRA, you usually have to go through a custodian or intermediary when making investments. However, with Checkbook Control, you form a Limited Liability Company (LLC) inside your IRA. This gives you the authority to sign checks and execute transactions without needing custodian approval.
This setup provides a level of autonomy that’s perfect for you if you want to move quickly when opportunities pop up. Maybe that’s purchasing real estate, lending money, or investing in private companies. Instead of waiting on third-party approval, you get to make decisions on your terms. It’s like having a turbocharged IRA, making you the decision-maker, rather than waiting on paperwork so someone can give you the green light.
The Advantages of Checkbook Control
One of the key advantages of a Checkbook Control IRA is its speed. Traditional retirement accounts can feel slow and bureaucratic. You may find yourself waiting days or even weeks for approval to make an investment. With Checkbook Control, that wait time is eliminated, giving you the ability to capitalize on opportunities as soon as they arise.
In addition to speed, a Checkbook Control IRA offers greater investment flexibility. You’re not limited to stocks, bonds, or mutual funds—though you can certainly invest in those if you like. But if you like, you can also invest in a much wider range of assets. Whether you’re interested in real estate, private equity, or precious metals, the possibilities are almost limitless. As long as your investments are in line with IRS rules, you can direct your retirement funds into practically anything you choose.
What You Need to Know Before Setting Up a Checkbook Control IRA
While the concept of a Checkbook Control IRA sounds appealing, there are some important considerations. First, setting up this type of account involves establishing an LLC, which can require some upfront paperwork and fees. You’ll also need a custodian to hold your IRA, but the custodian’s role is limited to overseeing the account and ensuring it adheres to IRS regulations. Once the LLC is set up, you’ll have control over the funds within your IRA.
But it’s essential to work with a knowledgeable custodian to ensure everything is set up correctly. That’s where a service like TurnKey IRA comes in. We help you establish the account, making sure the paperwork is properly completed. And once you’re set up, you’ll have lots of freedom to begin investing on your terms, without the red tape that many people with Self-Directed IRAs have to cut through.
Want to know more about how it works, or are you interested in starting a Checkbook Control IRA yourself? Maybe now’s the best time to start. Give us a ring here at TurnKey IRA by dialing our number: 844-8876-IRA (472).
Imagine a life where your retirement investments feel as easy to make as any other investment. Sure, rules are separating the two, but once you have a Checkbook IRA in place, you’d be surprised how natural it can feel to make retirement investments. Interested in learning more? Contact TurnKey IRA at 844-8876-IRA (472) for a free consultation. Download our free guide or visit us online at www.turnkeyira.com.
