American IRA a Self-Directed IRA Firm Clarifies Working into Retirement with a Self-Directed Solo 401(K) Plan

ASHEVILLE, N.C., Dec. 12, 2018 /PRNewswire-PRWeb/ -- For American IRA, most of their Self-Directed IRA clients will understand that there are required minimum distributions from Self-Directed IRAs thanks to a high level of education and conscientiousness with retirement. Other tax-advantaged non-Roth retirement accounts will require these distributions by April 1 of the year after the year in which they turn 70 ½.

But with more and more Americans working into years that were traditionally for retirement, it is possible that many do not realize that these RMDs even exist, especially when it comes to old retirement accounts. For those who continue to work into their retirement years, taking out retirement money might not seem like an option?but as it is required, it is important for those with a Self-Directed Solo 401(K) plan and other types of retirement accounts to understand what's necessary.

Why highlight the Self-Directed Solo 401(K) plan? According to the post, a qualified plan such as a 401(K) may allow a retiree?or soon-to-be retiree?to defer these RMDs, depending on the circumstances of the plan. That is why it is important to be aware of these required distributions.

"We like our clients to be highly informed when it comes to decisions such as RMD deferrals," said Jim Hitt, CEO of American IRA. "What many people do not realize is that there are plenty of options available to them depending on their circumstances. In this case, knowledge is power. And knowledge is power because knowing about these required distributions can prevent someone from accumulating a lot of penalties and fees that eat into their retirement plans?and that's not ideal."

The post went on to detail what the IRS expects from people who turn a certain age with specific retirement account types. For many RMDs, the age is what matters?even those who are still working should take into account what the IRS requires of them due to their age and the type of retirement account they hold.

For more information on required minimum distributions and the Self-Directed Solo 401(K) plan, visit American IRA at http://www.AmericanIRA.com or call 866-7500-IRA.

About:
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.

As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville and Charlotte, NC.

SOURCE American IRA