Don’t Pay For The Self-Directed IRA Boot Camp!

The self-directed IRA is a wonderful tool for diversifying retirement investments. A truly self-directed plan allows the account holder to invest in an array of alternative investments including real estate, private placements, notes, precious metals and more. We at New Direction IRA are passionate about what we do and we enjoy explaining to investors how self-directed retirement plans work.

We find that many of our event attendees know very little about self-directed IRAs before they find New Direction IRA and start asking questions. As someone that teaches a lot of these classes, I often have the pleasure of seeing the excitement our prospective investors have when they learn about all the neat things you can do through a self-directed plan.

Several of our competitors have picked up on the fact that the ‘idea’ of self-directed IRAs can attract a crowd. A couple of these companies have recently promoted ira boot camp or destination weekend workshops for which they charge a sizeable fee. The problem is the information they provide is the same information that we provide for free!

Many of these companies will get you started by answering your basic questions for free but then tell you that you need the IRA boot camp to take your knowledge to the next level. There is no hidden or secret information in respect to self-directed IRAs. The answers are what the answers are….the issue is whether the company you are working with will give them to you. Admittedly sometimes things do get complicated with this industry, and questions get a bit more in-depth, but that is all the more reason to work with a company that you can call for free to get answers to those questions.

Another frustrating thing that we’ve found is some of these companies, even after you’ve paid to attend their event, won’t give you the information you seek. Instead they will try to sell you a book or a CD or a ticket to another event! How frustrating is that? You take the time, energy and money to get yourself to an event to learn about self-directed IRAs, and you walk away with nothing but an opportunity to invest more time, energy and money.

Just to be clear, I think generally speaking, IRA boot camps can be great. I’ve been to several and I always walk away with good information and new contacts. It is important, however, that you don’t pay for an IRA boot camp when you could get the same information free somewhere else. The IRA boot camps that I’ve attended and enjoyed “sold” information that I otherwise couldn’t get my hands on… and thus they were worth it.

It should be noted as well that just because you pay for an event doesn’t mean the event is better. We will take the Pepsi Challenge with any self-directed IRA company when it comes to educating investors and providing in-depth information. And we will do it without charging and without forcing you to fly to Florida for the weekend boot camp. Our endgame is the self-directed IRA client that sets up an account and purchases an asset like real estate, precious metals, hard money loans, or even publicly-held stocks. Everything that we do leading up to that point is just part of the business.

We realize that there is a gap between what people currently know and understand about self-directed IRAs and what they need to know and understand to be comfortable enough to open an account and move forward. We try to fill that gap with free education and employees on staff that are available to answer your questions.

I should mention that I am not opposed to a company selling their product and making a buck. Good for them. Yea Capitalism! But for you, the individual that wants to learn about self-directed IRAs, do your homework up front and you can probably save a few bucks and get things started on the right foot. If you have questions, call your local experts here at New Direction IRA, Inc. We are here to help.

Image courtesy of Tobyotter