Today’s “Ask the Expert” column features Jason Craig, president of The Entrust Group.
Q: How can self-directed IRAs help brokers stay competitive?
A: At a recent RE/MAX broker event, I was highly impressed with the brokers’ knowledge of self-directed IRAs (SDIRAs). Beyond being aware of SDIRAs, most of them knew that you could invest in real estate as a strategy to grow your IRA. Some even had a self-directed IRA. However, none of them had thought of using it to attract and retain talent, while also helping grow their business.
Here’s how self-directed IRAs can help brokers:
Provide a retirement solution – Self-directed IRAs can help your agents maximize their own retirement savings. Most companies offer 401(k) plans that are not as flexible. With a SDIRA, agents can put away as little or as much as they wish from every commission check. And even more importantly, they can invest in what they know—real estate.
Help them stand out from the competition – Your agents can differentiate themselves by incorporating SDIRAs into their marketing strategy. For example, offering educational content about SDIRAs also creates touch points with clients and prospects.
Save on taxes – In a self-directed simplified employee pension (SEP) (agents’ most popular retirement plan), agents can put away up to 25 percent of wages and save on taxes.
Taking advantage of SDIRAs offers a unique solution to create loyalty and business growth, providing a way for your agents to prepare for their future. To learn more about the advantages of providing this solution for your agents at no cost to you, visit theentrustgroup.com/agentira.
For more information, visit www.theentrustgroup.com.