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I was talking to an old friend one night on the telephone and he gradually brought the conversation around to work, my work not his. He asked me how to go about rolling his 401(k) over to an IRA and also what IRA did I recommend? I was slightly taken aback by this and I said “Charlie I have known you for over ten years and you have known all along what I do for a living, why have you waited this long to ask for advice?” “Well Gordon” he said “I have been waiting for you to sell me on the idea.” “My friend you really don't know how I work, do you? I will tell you how I go about getting customers.” I took A deep breath and carried on. “You know I write articles about IRAs and real estate don't you, well if you read the articles you will see that I tell the reader to go to the bottom of the article and click on my url. This will take the reader to my website and they will be able to see what real estate is still viable in this economy today. And they will be able to find out how to roll over a 401(k) to an self directed IRA. It is up to the reader then just how far they want to go with the information we have provided for them.” While 401(k) plans have some good points they also have a down side compared to a self directed IRA.. It is suggested that anyone who wants to rollover a 401(k) change over to a self directed IRA. There are many reasons for this and this article will help explain why it is better to roll over the 401(k) to a self directed IRA. One of the biggest reasons for changing the 401(k) over to an IRA in the first place, is to allow for greater variety in investment choices. If changing over to a traditional IRA, a big part of the benefit is lost, as traditional types of IRA still have many limits on the type of assets you can invest in. The person rolling their 401(k) over should choose a self directed IRA, as it allows for full control of your money. All IRAs are better than a 401(k) because 401(k)s are bound to your employer and his company. This means the company sets things up for the greatest benefit for itself and not for the greatest benefit of the person who holds the account. A self directed IRA is the best way to go as this type of account has a custodian that guides you through all the pitfalls and the rules, but does not control what happens in the account. When the account holder is not bound by other interests, there is no limit to the investments that can benefit the account holder. In conclusion a self directed IRA is simply the best choice for rolling over a 401(k). At the risk of repeating myself if you want a more TURNKEY type of investment. Go to the url at the bottom of this article and go to my website, there you will find more information on IRAs and real estate investing. Gordon Hall is an ardent reviewer of IRAs and other retirement funds. Visit his website now at http://www.double-your-ira.com to discover which retirement funds Gordon recommends after far ranging and extensive comparisons.
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