In recent decades, many people have begun turning their traditional IRAs into a self-directed IRAs to access more investment opportunities. A self directed IRA (SDIRA) grants you complete control over your investments and greater latitude to diversify your retirement portfolio and grow your account.
Thinking about converting your current IRA into a self directed IRA (SDIRA)? It pays to know what advantages and disadvantages a SDIRA offers. Both an IRA and a SDIRA offer the same tax advantages, whether it’s a Roth IRA or traditional IRA. They are also both limited by the same regulations from the IRS. The difference mainly lies in the investment options available between the two and the role of the account owner.