When it comes to building long-term wealth, the time to start is always now. When it comes to investing in real estate, well, that can be a bit more complicated, with a number of factors to consider, including interest rates, the housing market and job growth. It can be intimidating, but it can be gratifying and rewarding, too. If you’re looking to either start, propel the growth of, or diversify your retirement fund, and you have some knowledge of real estate, the time to invest is also now, as historically low interest rates, a steady housing market and good job growth provide opportunities worth taking in Utah.
Invest With a Self-Directed IRA
If you have $200,000 or more in existing retirement accounts, and some real estate know-how, it might be advantageous for you to transfer or roll over your retirement funds to a Self-Directed IRA or Self-Directed Roth IRA, and invest in Utah’s real estate market. Both tools allow you to use your business experience to choose your own investments and build your retirement wealth.
The benefits of a Self-Directed IRA include:
- Tax-free or tax-deferred growth
- Asset protection
- Estate planning benefit
Control How You Invest
While a traditional IRA or Roth IRA might be used to invest in CDs or mutual funds, a self-directed IRA can be invested in many other alternatives. In addition to real estate (mortgages, land, land trusts, single family homes, apartment buildings), funds in a self-directed IRA might also be used for:
- Promissory notes
- Tax lien certificates
- Partial notes
- Trust deed notes
- Private company stock
- LLCs, franchises and partnerships
- And more
Get Started
First, talk to your financial advisor. Then, call Bank of Utah’s Trust Department to set up your Self-Directed IRA account. We are one of the few institutions in the state that has both trust powers and the ability to hold custodial IRAs. As a custodian, we can safeguard your funds by:
- Providing guidance and professional expertise
- Managing assets according to the direction of the owner
- Filing reports in compliance with IRA regulations
- Issuing bank statements of net gains and losses
- Recording all transactions pertaining to the IRA
Remember, the time to build long-term wealth is now. While a Self-Directed IRA might be new to you, our personal trust officers can guide you through it, step by step.
Brenda Lambert is a vice president and senior trust officer for Bank of Utah’s Personal Trust Department.
