How to Invest your Self Directed IRA in Panama. You are not getting any younger and you may not be getting any richer. You are counting down the days until you can sit back in your hammock and watch the sun set over the deep blue sea. The reality is that by the time that day comes your perfect piece of paradise will be gone or financially unattainable.
What many baby boomers and even the younger generation don’t know is that for over 35 years, the concept of Self Directing your IRA into an Real Estate investment has been a reality. Buy your retirement haven now with no tax implications or penalties.
This is how it works. You find your retirement dream home that you will want to reside in when you turn 59 ½ years old. You direct your IRA’s into the investment of that home, you rent it or let it build equity that is piped back into your IRA and when it is time to shut the door on the corporate rat race, you then take your standard distribution and buy your home through your Individual Retirement Account.
The money you make through this investment must be for the sole benefit of your IRA until you retire. Your real estate purchase must be in the best interest of your retirement fund. This type of retirement planning has become hugely popular with the Baby Boomers in recent years as they look to increase their retirement nest egg fast. Further more, foreign investment is on most investors radar due to the present distressed housing situation.
You will want to find a provider who specializes in IRA LLC’s. By using a traditional IRA holder, there will be a fee, which is a percentage of your transaction and then a lengthy coordination of the purchase. This can all be avoided by seeking out the provider that will allow you to write a cheque anytime and anywhere you want to invest.
Purchasing real estate now in a foreign country, like Panama is smart and all the “cool kids” are doing it. Knowing that your retirement haven is waiting for you will give you peace of mind, until you decide it is time to grab your sun glasses and towel and retire to your Paradise.