What is a self-directed IRA?
The Bankrate.com financial term of the day is: "self-directed IRA."
Are you a control freak? Or at least the type who likes to do things yourself? A self-directed IRA may be the perfect way for you to save for retirement. It's an individual retirement account that allows you to make the big decisions about how your savings are invested. You can even go beyond the usual stocks, bonds and mutual funds and put money into real estate or other nontraditional options. A custodian or trustee will keep an eye on you and oversee the process.
A self-directed IRA is a retirement savings vehicle that puts you in the driver's seat.
For answers to all of your retirement questions, visit the Retirement section at Bankrate.com.