During the 2012 elections, one of the revelations that came out about Republican candidate Mitt Romney’s finances was that his self-directed IRA was worth up to $100m. With current annual contribution limits of $5,500 for those younger than 50 and $6,500 for 50 and older, how the heck does anybody build an IRA worth $100m?
With a self-directed IRA with checkbook control, the owner has complete signing authority over his/her retirement funds. No more going through an administrator to fund investments. This type of control offers greater investment freedom, allowing the owner to manage assets with ease.