A self-directed IRA is a type of traditional or Roth IRA, meaning it allows you to save for retirement on a tax-advantaged basis and has a contribution limit in 2023 of $6,500, or $7,500 for people age 50 and older, says Lori Gross, financial and investment advisor at Outlook Financial Center.
“These funds receive an agreed-upon interest rate and are often laddered to mature over a specified time frame, allowing for preservation of capital with a rotating stream of income,” says Lori Gross, an investment advisor at Ohio-based Outlook Financial Center.
“When it comes to low-risk investments, it all depends on your personality, risk tolerance, objectives and investment horizons,” says Lori Gross, lead investment advisor at Outlook Financial Center.
