Most people consider stocks, bonds, mutual funds and exchange-traded funds when evaluating investments for their individual retirement account, or IRA. But you have many other choices.
You might want to try a nontraditional approach with at least some of your IRA assets. You can save for retirement by investing in real estate or a closely held business within your IRA. Likewise, a physical stash of gold coins may appeal to you if you worry about financial calamity or runaway inflation.
Before using your IRA to dabble in investments that are out of the mainstream, however, be aware that along with potential rewards are, in some cases, higher-than-average risks. Nontraditional investments typically are done through self-directed IRAs. You’ll need a custodian to handle the account, which may be tough to find, because major IRA custodians, such as banks and mutual funds, typically stick to basic offerings. So, do your homework, don’t rush — and don’t do anything that makes you uneasy.
Read more: http://www.bankrate.com/finance/retirement/6-surprising-ira-investment-options-1.aspx#ixzz3wIi8DztG
Follow us: @Bankrate on Twitter | Bankrate on Facebook
[“source -cncb”]
