Can you open up an IRA for Real Estate Investments? Sure you can
. The first step is do you have any current IRAs right now? If you do we can use that money to create a self-directed IRA.
If you don’t even have one Ira we can start a brand new one.
It’s important to get started as soon as possible.
Remember the gains that you make you don’t have to pay tax on. You will down the road but not today.
To grow tax deferred is a lot faster than if you have to pay tax on the gain.
A traditional IRA basically delays the taxation
. A Roth IRA can grow faster because you already paid the tax.
With a Roth IRA, you contribute after-tax dollars, your money grows tax-free, and you can generally make tax- and penalty-free withdrawals after age 59½.
With a Traditional IRA, you contribute pre- or after-tax dollars, your money grows tax-deferred, and withdrawals are taxed as current income after age 59½.
