Six or seven years ago as a mid-level manager for a major int'l conglomerate I burned out. I was too young to retire, had no immediate plans on what I wanted to do - but I resigned anyway. I know it sounds dumb, but that's what I did.
So, I embarked from there on an adventure spanning numerous failed business ventures as a self-employed nobody. I even took on partners twice in two separate ventures since that time and those failed as well.
Then, one day I guess I woke up and realized that my large nest egg wasn't so large anymore and I'd better get serious about my future. I wasn't getting any younger and needed to find something that would pay the bills now and in retirement - which I knew I couldn't afford.
It's weird - but one night I couldn't sleep, so I turned on the TV in the middle of the night and started watching Public TV here in Southern California and they had a guest named Robert Kiyosaki (of Rich Dad, Poor Dad fame). At the time, I'd never heard of Mr. Kiyosaki but I was honestly inspired by what he had to say. So, in support of the Public TV fundraising offer, I ordered a set of CD's. Next, I went to one of the Rich Dad seminars, bought some books and more CD's, etc.
Here's an image link to the Rich Dad website for anyone interested:
To make a long story short, I learned a lot about investing and more importantly, I learned that I still had much more to learn. So, I started to educate myself more and more (and still do). I read just about everything I can get my hands on the subject. I surf the web for information. I attend free and paid seminars. All about investing in its various forms.
One of the key things I learned along the way that many people like me probably aren't aware of is the fact that you can use your IRA and 401K funds to invest in a LOT more things than are offered by the fund managers. For example: Real estate! raw land, land developments, rental houses, trust deeds, tax lien certificates, local businesses, and much more.
I was literally amazed to learn this. Why didn't I hear about this before? The answer is simple really: Fund Managers and Financial Advisors don't make any money or commissions if you invest in these alternatives outside of their stocks, bonds, and occasional REIT (real estate investment trust) funds.
Anyway, you absolutely CAN use your IRA and 401K funds to invest in alternative investments such as Real estate, etc. through a self-directed IRA and it's very simple to set up. You simply contact a quality self-directed IRA custodian and they walk you through the steps. I use a company called Pensco Trust Company. Here's an image link to their website if you want to learn more:
By the way, I don't make any money by sharing these sites with you. This is simply my way of offering what I've learned and I hope that it might help someone else.
Anyway, that's it for now. I hope my first blog was OK. I'll expand on some of these thoughts in future blogs. Regards! Retirement Wiz
(email me at: johnha7@yahoo.com )
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