Should Self-Directed IRA Owners Ignore the ’50 Best Cities to Live In’?

American IRA CEO

American IRA CEO, Jim Hitt

While demographics such as safety, education, and median home values were important for gauging a community on a general level, there are those with Self-Directed IRA ownership who might want to look at different statistics.

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When USA Today recently unveiled the 50 best cities to live in, the list made headlines across the country. But some are debating the merits of using general demographics to measure whether a city is appropriate for individuals. One such argument recently came from Jim Hitt, CEO of American IRA, who took to the American IRA blog for a response.

In the blog response, Jim Hitt pointed out that while demographics such as safety, education, and median home values were important for gauging a community on a general level, there are those with Self-Directed IRA ownership who might want to look at different statistics.

“The key here is understanding that not every city is for everyone,” said Jim Hitt. “In my opinion, it’s better for retirement investors to focus on issues such as cost of living. This gives them the freedom and flexibility to either invest more of their income or simply let their retirement dollar stretch more.”

While Jim Hitt did not dismiss the important statistics such as crime and poverty levels, the American IRA CEO noted that a general list is not always of much use to investors.

“It might be tempting to read a list like this and want to take action,” Jim Hitt said. “But the truth is, moving to an entirely new state because of an article isn’t always possible. Some may need to stay in their current location to remain with loved ones, or because they’re tied to a specific job.”

The Self-Directed IRA is an investment vehicle through which retirement investors can hold assets of a wide range, including real estate. That available asset class means that there are other considerations for retirement investors looking to build a retirement nest egg. Though some investment types are not local to any specific area, any type of real estate will necessarily have ebbs and flows regarding local markets, says Jim Hitt.

“What I wanted people to get out of this post is that there’s no one single list that says you have to live in a specific place,” said Jim Hitt. “The Self-Directed IRA investor is always looking for a personalized solution that maximizes their individual wealth. Choosing where to live should also be a private, scrutinized decision—not something out of a newspaper.”

To read the blog, visit http://www.AmericanIRA.com. For more information, call 866-7500-IRA.

About:

American IRA, LLC was established in 2004 by James C. Hitt in Asheville, NC.

The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Mr. Hitt and his team have grown the company to over $250 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, NC.

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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