Dispelling the Most Common Myths About Self-Directed IRAs

The truth about the myths surrounding Self-Directed IRAs…

Have you ever watched a health report on the evening news, wherein even the most credible researchers appear to completely reverse an earlier notion about which foods are healthy to eat and which are not?

Truth is, we’ve all experienced myths like these in our lives. Sometimes we buy into them, like believing that an urban legend is real when it turns out to be a fabrication. And sometimes we wisely keep clear of the myth by not making a judgment one way or another.

Most of the time, these myths are innocent. But sometimes these myths embed themselves into the popular consciousness and prevent people from making fully-informed decisions.

Consider the world of Self-Directed IRAs. Myths about these IRAs are rampant-some of them true, some of them way off base. If you’ve just discovered this site, now’s the time to learn more about Self-Directed IRAs so you can evaluate them with a clear head… and a mind free of myths.

“The Only Possible Investments in Retirement Accounts are Stocks, CDs, and Mutual Funds.”

You might not have even heard this one directly. It simply seems to be the underlying assumption that many investors make. Even money managers make this mistake often enough that the myth has become pervasive. The truth? Self-Directed IRAs allow you the ability to invest in intellectual property, real estate, private companies, gold, and more. There aren’t as many limits on retirement accounts as you might think.

We should note, however, that if you want to expand your retirement investment options, you might have to switch over to a Self-Directed IRA. These IRAs will allow you the financial freedom to make more of your own decisions, pay fewer fees to wealth managers, and take charge of your retirement destiny.

Our ruling on this one: Myth.

“Self-Directed IRAs Are Inherently Riskier.”

Have you heard this from a money manager? Try asking yourself if they were selling you on their latest mutual fund.

The real truth about IRAs and investment in general is, well, a little murkier. Sure, we could sell you on a number of easy platitudes and generalizations, but the truth is, different retirement accounts work for different people. Self-Directed IRAs might work out better for you than the traditional IRAs you’ve been sold all your life.

If you have a lot of experience in real estate investing, for example, then you might actually have less financial risk associated with Self-Directed IRA real estate investments. You know the market well, you know how to handle the investments, and you know how to generate a return. Is that riskier than the traditional IRA? You tell us.

Our ruling on this one: Myth.

“I have more options with a Self-Directed IRA.”

Is this one really a myth? Consider the limited scope of the traditional IRA: CDs, mutual funds, stocks. That’s the traditional route. With a Self-Directed IRA, however, you can open up your investments to real estate, private IRA lending, private stocks, tax liens, precious metals, and more. Opening up a Self-Directed IRA will expand the breadth of your options… and possibly the depth, as well.

One common argument money managers often make is that Self-Directed IRAs require a more subtle appreciation for the difficulty investments. And while this is true, it’s not prohibitive by any means. Ordinary people make real estate and private investments all the time-often, with stable, effective results.

Has the Internet Killed Off the Direct Mail Baron?

Over the past 30 years, direct mail has been responsible for generating vast amounts of money for businesses and individuals alike, but is it still an effective means of marketing?

The short answer, in the short term, is yes. But the Internet has without doubt diluted the power of pen on paper and will continue to do so, until only a few die-hard individuals and the glossy brochure brigade, are left to pick the bones of an industry once plump and ripe for plucking and plundering.

Today, the Internet offers the consumer a pure, unadulterated and convenient environment for buying goods, services, bill paying and browsing. And with more people logging on every day, it’s where businesses need to focus.

Compared to direct mail, marketing a business or service on the internet is simple, very cost-effective and can be just as profitable. If it’s the ‘right’ kind of business, offering the ‘right’ kind of product or service, it can prove to be overwhelmingly prosperous. And there’s many an Internet millionaire that will testify to that.

The big advantage, in terms of doing business on the Internet, falls right at the feet of the little guy. The one-man outfit, who has virtually no overheads and no employees. Better off still, is the little guy with no overheads, employees, products or services. He can make a phenomenal amount of money by selling other people’s products for commissions.

That’s quite difficult to do with direct mail and would likely prove prohibitively expensive to operate. And that’s another reason why direct mail is in decline. The overall expense of the operation.

When you add up the cost of stationery, printing, postage, mailing lists and the labor involved in the whole process, it’s clear to see that the ‘end is nigh’, for what was once a very lucrative marketing venture. That’s not to say that there isn’t still a place for some forms of direct mail. Some online businesses, especially the bigger companies, would do well to incorporate a direct mail strategy in promoting their online activities.

But generally, the opportunity of making a killing with direct mail is fading fast. So it’s goodbye to the direct mail baron and welcome to the Internet marketing guru. It’s the same animal but with different spots.

2 Reasons Niche Marketing Is The Way To Go

Niche marketing is important for a number of reasons. The first reason is because you can operate in a competition free zone. Now even though a lot of the niches that you see today contain some form of competition, you will still be able to turn a profit as opposed to if you didn’t go into a niche.

If you’re looking for a way to go into a niche, begin by focusing on your business first. We can sit and talk about all the different kinds of ways that other business owners can go into a niche, but instead we will talk about yours. Here’s the first reason why you should consider going into a niche:

1) Less cost

You won’t have to advertise more of your money to get your message across in your niche. This means you can save money, all while collecting as much leads and sales as possible. To do this, you will want to test and track your results. If you find that an ad in a niche publication surpasses what you get from advertising in a different medium or newspaper – I would stick to advertising in this publication alone.

With the less cost of advertising, you’ll get to save some of that money and use it to spend elsewhere in your business. This one reason alone for going into a niche can be considered a pro. Plus, you can easily regain the cost of acquiring the customer – if you choose to use backend marketing. Here’s another reason why going into a niche is a good idea.

2) Be perceived as an expert

When you go into a niche, almost immediately you’re perceived as an expert. People will come to you simply because they believe in your talents, and they feel like you can deliver results. As an expert in your niche, you have a lot of credibility. You can inspire confidence in your prospects because they believe you are the obvious person for the job.

With an expert status in your niche, almost everybody will know you. You can gain market dominance, and can automatically build a brand in your business. This will help you to stand out from the rest of your competitors, and will help you to gain as much dominance as possible.

Another thing that you should know is that whenever someone has a problem, they will contact you first. This is because they value your information, and that they will be willing to learn everything that they can to improve their sales and profits. With that being said, I thin it’s a technique that you should be using in your business today.

Most of the techniques that you hear about when it comes to going into a niche are sound advice. Niche marketing is a technique that that many people don’t seem to understand. If you can incorporate this into your business strategy, you will find that you can stand to profit immensely from this strategy.

Good luck with making these niche marketing tips work for you today in your business.