Ep. 408: Should We Move Our Money To A Self-Directed IRA?

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Show Notes:


  • “My husband and I are seeking more information on how to move our 401(k)s to a self-directed IRA for each of us. We’ve spoken to investment people who either don’t know enough about them or don’t want to touch this. We anticipate the market tanking soon and don’t want to lose our money tied up in a 401(k) like what happened in the early 2000s. Can you provide additional info on whether this is a good money move for not losing our nest egg, or is there a better alternative to a 401(k)?

    • Damian: There is a such thing as an “in-service withdrawal,” and maybe 60–70% of 401(k)s offer this, though there are restrictions.
    • Pete: If you have fear of a ‘market correction,’ moving your money out of your 401(k) doesn’t necessarily solve anything.
    • There are really three options: weather it and wait for the bounce back, sit this out and possibly miss getting back in, or seeing opportunity within the storm and making money from it


  • “What is a self-directed IRA?”
    • Damian: A true self-directed IRA can include more broad investments than the common ones in traditional IRAs. For example, they can include real estate, gold, etc. Most financial advisors don’t even handle them, they’re so uncommon. The regulations for setting up and operating one are also very stringent
    • It’s very important to know what you want to accomplish. It’s equally important to know exactly how these work and the rules that govern them.

This episode goes deep into the topic. Don’t miss the entire conversation for the best gems.  — click PLAY below for the full show.

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