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FORBES: The #1 Account All Wealthy People Have (That You Probably Don’t)

FORBES: The #1 Account All Wealthy People Have (That You Probably Don’t)

By: Christine von Liederbach
October 14, 2021
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Article by Jeff Rose in Forbes

Can you imagine your little old traditional or Roth IRA is worth millions of dollars?

It happens for some people.

According to the US Government Accountability Office (GAO), 791 individuals have IRA balances between $10 million and $25 million, while 314 are worth over $25 million.

That was in 2011. There are probably many more today.

Former presidential candidate Mitt Romney reportedly had an IRA worth in excess of $100 million.

What’s their secret?

Many wealthy people use true self-directed IRA (or 401k) accounts to accumulate multimillion-dollar retirement portfolios. These are unlike the self-directed plans most people have.

Instead, the wealthy use self-directed retirement plans to invest in non-traditional investments.

They’re not available name brand brokers, banks, and robo-advisors.

Instead, they’re small, highly specialized trustees, concentrating on a small number of very high-profit asset classes. 

What exactly is a self-directed IRA (or 401k)?…to read this article in its entirety, click here.

 

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Although the information in this commentary has been obtained from sources believed to be reliable, The Gold IRA Company does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. The Gold IRA Company will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.

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