Part one

Like most people, I used to save for retirement the traditional way using the stock market, with mutual funds and broker’s fees. And, like a hamster on the wheel, I was running, but going nowhere. I was tired of the rise and loss of the market and couldn’t really see retirement in my future. If you're sick of the roller coaster ride too and feel it's the big cats that take away the real money...read on. You too can take advantage of the lowest prices in real estate we've seen in 10-15 years with an self-directed IRA.

A friend told me about self-directed individual retirement accounts and that I should Google it and see if it's a fit. If not for me...for my present and future clients. As a self-employed person, I learned I can take a chunk of my retirement money and put it into an asset, like gold, notes, tax liens or, you guessed it, a piece of real estate.

If there really is a heaven...it must be here!

For me, this is the perfect storm or good stuff! There is a beautiful piece of lakefront property in New Hampshire that’s been in my wife’s family for years. It’s the prettiest, most desirable location on the lake. I proposed to my bride up there. Add to that it's the best place for me to do creative work, relax, and decompress from the pressures of life in CT and in real estate. I was emotionally attached!

​My unspoiled view on Long Pond...

When the family wanted to sell the lake house, I had an opportunity to buy the property AND I could have an IRA-tax-sheltered investment that was outside stocks, bonds and mutual funds.  I have complete, check-book control of the asset. Not somebody else. Don’t have to invest in mutual funds; I make the decision.

It follows all the traditional rules of an IRA. I must start taking distribution when I turn 70.

Most people with self-directed IRAs buy the properties for investment. Not me. This is my dream home and we plan to live there when we retire. While prices of homes are favorable and interest rates at such historical lows, it only makes sense for me to ride the appreciation of the real estate market that I know is coming.

Next week: The process of setting up a self-directed real estate IRA.