High Yield Roth IRA

High Yield Roth IRA

For many years, people invested in high yield savings accounts to increase their earnings on their balance. Since the interest rates have been so low through banks, these same investors are finding that the once called high yield accounts do not really exist anymore. While this may be a cause for panic in some people, others are learning that there are other ways to save money while still getting the benefits of a high yield account. How do they do this? The answer is a high yield Roth IRA.

Generally, people start saving for retirement by opening an IRA account. Most people choose either a traditional IRA account or a Roth IRA. Now, we all know there are major differences between the two. Generally speaking, the Roth IRA seems to be the popular choice. With a Roth IRA, the contributions that are made to the account cannot be deducted when taxes are filed. Some of the high yield investments approved by the IRA and IRS rules include real estate, real estate mortgages, foreign currencies, oil and gas, gold bullion, life settlements, and structured settlements. Due to these opportunities, this type of IRA can earn a higher yield than a traditional bank account because of its tax free growth characteristics. While it is not classified as so, the account can actually be considered a high yield Roth IRA.

How to Create a High Yield Roth IRA

When a Roth IRA account is opened, it is like every other Roth IRA. The main benefits are the same. This means that no matter what, the Roth IRA will have the same rules. It will have no age limit, the same contribution limit, withdrawal and transfer rules etc. So, you may ask, how do I create a high yield Roth IRA? The answer can be as simple or as complicated as you make it. As an investor and an owner of a Roth IRA account, you will have various choices regarding how you wish to invest your money in the account. In most cases, people will invest in the typical investments, such as stocks, bonds and mutual funds. However, these are not the only avenues you can travel with your Roth IRA.

In order to make your Roth IRA high yield, you must know what types of high yield investments are allowed and approved by the IRA as well as the IRS. As mentioned previously, these investments can include real estate, real estate mortgages, foreign currencies, oil and gas, gold bullion, life settlements, and structured settlements.

So, let's say you already have a Roth IRA retirement account and you have been making regular contributions. With the state of the stock market, the account has not done well growth wise, meaning that the stock market is not yielding a high return. So you decide to look into other types of investments to build your account and strengthen your portfolio. The key to having a high yield Roth IRA is placing your money in investments that have high yield returns. This sounds attractive and simple, but as an investor, it is a risk. Most high yield investments are also high risk investments. This means it could go either way. You could lose more than you invest, or on the other hand, you could get enormous returns.

In closing, if you do decide to turn your account into a high yield Roth IRA, it is highly recommended that you have an experienced financial advisor to manage these investments. High yield investments can be difficult to understand, so it is always best to allow an advisor to handle your portfolio. They will also make sure that all Roth IRA rules are followed and that the investments are approved by the IRS.

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Rocco Beatrice, CPA, MST (Master of Science in Taxation), MBA (Master of Business Administration), BSBA (Management/Accounting), CWPP (Certified Wealth Preservation Planner), CMMB (Certified Mortgage Broker), CAPP (Certified Asset Protection Planner), Managing Director, Estate Street Partners, LLC. Mr. Beatrice is an asset protection, award-winning trust, estate planning and tax expert.

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