Many people saving for retirement have used a standard IRA structure to hold and invest their funds - but today:
Some IRA Owners Need an Alternative to the Standard IRA
Based on the magnitude of the recent financial crisis, we have found that many IRA owners may be:
- Reluctant to modify their current IRA portfolio.
- Feeling that traditional investments are the only investments available for their IRA.
- Resistant to IRA investment options they see as the "same old ideas".
- Unwilling to face the fact that their IRA account has substantially decreased in value.
- Afraid to even look at their IRA account statements.
- Unaware of the IRA investment opportunities the current financial climate provides.
What all the above statements point to is hesitancy by many IRA owners to do anything with their IRA accounts. This hesitancy may cause some IRA owners to overlook potential opportunities that could allow them to resurrect their IRAs that they have left for dead.
The vast majority of IRA and retirement plan owners have lost money in their accounts over the last 18 months. We feel it is certainly not the time to do nothing and assume everything will be fine with the accounts. Simply by letting them sit there and not paying any attention to the decreased values does not necessarily provide the potential for long-term desired results. Actions may be required to both protect and grow IRA and other retirement plan values. |
