Question 1

What is a self-directed IRA?

Accepted Answer

A self-directed IRA is a retirement account that allows you to invest in a wider range of assets beyond the typical stocks, bonds, and mutual funds found in a traditional IRA. With a self-directed IRA, you can invest in real estate, precious metals, private placements, and other alternative assets.

Question 2

What are the benefits of a self-directed IRA?

Accepted Answer

The main benefits of a self-directed IRA include greater control over your investments, the ability to diversify your portfolio, and the potential for higher returns through alternative investments. Self-directed IRAs also offer tax-deferred or tax-free growth, depending on the type of account.

Question 3

What types of investments are allowed in a self-directed IRA?

Accepted Answer

A self-directed IRA allows you to invest in a wide range of assets, including real estate, precious metals, private placements, crowdfunding, and more. However, there are some prohibited transactions, such as investing in collectibles or life insurance.

Question 4

How do I open a self-directed IRA?

Accepted Answer

To open a self-directed IRA, you'll need to work with a custodian or administrator that specializes in these types of accounts. Madison Trust can help you set up a self-directed IRA and guide you through the process of funding and investing your account.

Question 5

What are the fees associated with a self-directed IRA?

Accepted Answer

The fees for a self-directed IRA can vary depending on the custodian and the types of investments you make. Common fees may include annual account maintenance fees, transaction fees, and fees for specific services, such as the purchase of alternative assets. Madison Trust provides a transparent fee schedule to help you understand the costs.

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Frequently Asked Questions about Madison Trust Company

What is a self-directed IRA?

What are the benefits of a self-directed IRA?

What types of investments are allowed in a self-directed IRA?

How do I open a self-directed IRA?

What are the fees associated with a self-directed IRA?

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