Hubby and I decided it was time to take control of our own finances and reduce our exposure in the stock market. We decided to open self-directed IRA accounts and use an IRA, LLC so we could control the money ourselves.
Little did I know what a paperwork vortex I’d be entering. I just finished reading (hah, trying to read), the forms I’m supposed to sign stating that I understand all the high-risk booby traps waiting for me with an IRA, LLC. Wow, I need a lawyer just to read the stuff so I can sign that I understand. Jeez! I felt relatively intelligent and competent until I started reading that application package LOL.
Oh well. Seems like just yesterday I was stating how important it is to have a team of experts around you to help you succeed. Oh yeah, it was just yesterday. I’ll definitely be calling on the lawyer/CPA team member on Monday to help me wade through this paperwork so we set up our self-directed IRAs the correct way.
If you find yourself in over your head with something new, or information presented to you is as clear as mud, it’s great to know you’ve got a team to rely on. Start building your team today so you can continue to move forward to success.
Blessings,
Cindy
Tags: Personal Finances, real estate investing, Self-Directed IRA