Saving for Retirement? Discipline Yourself with a Self-Directed Retirement Diet

Published on August 9, 2016

Planning for retirement is often like dieting—the end goal may seem a long way off. So, how can you ensure that you are not that person who complains that they need to lose weight and then never does (or, in this case, find yourself coming up short in retirement)?

Like dieting, retirement is a marathon, not a sprint. The golden rule: Keep your goal top of mind daily and every bit helps. Here are some tips to bring discipline to your retirement planning:

  1. Think before you spend. Yes, life is full of necessities—food, shelter and clothing. However, do you really need to eat out (or take in) five nights a week? Perhaps you can cut back to once or twice a week and put the savings into a self-directed IRA. (See Number 3.)
  2. Contribute often and regularly. This is where the self-control comes in. It’s kind of like laying off the carbs in your diet—just do it! Reduce your spending, increase your savings and contribute to a self-directed IRA. (See Number 3.)
  1. Save with a self-directed IRA. Everyone should have a special savings vehicle earmarked for retirement. This approach will ensure that all your hard work pays off in retirement. By investing these funds wisely in the alternative assets allowed in these retirement plans, your account will grow.

When you discipline yourself with a retirement diet that’s as simple as 1, 2, 3, the numbers add up and with compounding, the results can be pleasantly surprising.

Now, about those alternative assets
Alternative InvestmentsSavvy investors who put their retirement funds in a self-directed retirement plan can build their retirement wealth more aggressively. This investment vehicle allows individuals to invest in what they know and understand, and might already be investing in outside of their existing plan. They can follow their hearts (and minds) by including assets like precious metals, real estate, private placements, commodities, hedge funds, or loans … the types of nontraditional investments that are not allowed within typical retirement plans.

At Next Generation Trust Services, our professionals are available to answer questions about self-directed retirement plans and the types of nontraditional investments allowed in these plans. Our transaction specialists make certain that you are investing within IRS guidelines. However, since we do not give investment advice, we strongly recommend you consult your trusted financial advisors about your investments and any tax implications they have for your unique situation.

Feeling disciplined about your retirement savings?
Download our white paper that has lots of helpful information; you can also contact Next Generation at 888.857.8058 or, or read through our Starter Kits to open your self-directed retirement account.