August 9, 2023

Retirement Wealth Is Your North Star with a Self-Directed IRA in Minnesota

Written By: Daniel Gleich 

Key Points 

  • A Self-Directed IRA (SDIRA) in Minnesota allows you to invest in alternative assets like real estate, private business, previous metals, and more.
  • Minnesota's high quality of life, strong economy, and business-friendly environment shine light on the benefits of investing with a Self-Directed IRA.
  • Minnesota is also considered to be an ideal state to retire and enjoy the wealth you’ve built.

Minnesota is a magical place. It’s the North Star State, the Land of 10,000 Lakes, and a state where dreams come true. Whether you're a lifelong Minnesotan or a newcomer to the state, opening a Self-Directed IRA can redefine your idea of investing for retirement.

Northern Lights during winter

With a Self-Directed IRA in Minnesota, you can:

Buy Real Estate

From the vibrant streets of the Twin Cities to the serene shores of Lake Superior, Minnesota presents many options for real estate investments that can generate passive income and long-term growth. Recent rankings have recognized Minnesota as one of the best states to live in. The state consistently ranks high in categories such as education, healthcare, and career opportunities, attracting an ongoing influx of new residents. The Minneapolis-St. Paul metropolitan area, in particular, offers a dynamic housing market and a relatively steady demand for rental properties.

With a Self-Directed IRA, you can seize the opportunity to invest in residential or commercial properties, capitalize on the thriving rental market, and potentially achieve attractive returns on Minnesota real estate. Minnesota is also a coveted retirement destination, so you may very well want to stay when it’s time to relax and enjoy what you’ve earned and saved from your investments.

Become a Business Investor

Minnesota's business-friendly environment has earned it accolades as one of the top states for starting and growing businesses. CNBC's "America's Top States for Business 2022" ranked Minnesota in the top 10, highlighting its strong infrastructure, life and health factors, and technology and innovation. The state's commitment to skilled workforce development provides a solid foundation for business growth and success.

With a Self-Directed IRA (SDIRA), you can invest in private companies, startups, and emerging industries to diversify your retirement portfolio. Whether you’re interested in supporting local businesses or exploring opportunities to have a hand in larger companies, your Self-Directed IRA gives you a tax-advantaged account in which you can invest in private businesses of all types and sizes, not just in Minnesota, but anywhere in the country.

Invest in Precious Metals

You may consider mirroring Minnesota's reputation as a state that values stability and economic resilience by bolstering your retirement portfolio with tangible assets. Precious metals have long been considered somewhat of a safe investment, thanks to their inherent value. By including precious metals, such as gold and silver, in your Self-Directed IRA, you can potentially hedge against market volatility. With Madison Trust, you can simply purchase gold and other precious metals from FideliTrade, a Delaware Depository Company, and have the metals safely stored at Delaware Depository. You have the flexibility to invest in physical bullion or select authorized coins to ensure compliance with IRS regulations.

Establish an IRA LLC

For greater control of your retirement funds, consider establishing an IRA LLC in Minnesota to create what’s called a Checkbook IRA. With a Checkbook IRA, you have “checkbook control” of your account. This structure allows you to manage everyday investment transactions swiftly and efficiently, without relying on a custodian.

With the guidance of Madison Trust's sister company, Broad Financial, you can navigate the process of forming an IRA LLC in Minnesota seamlessly with a Checkbook IRA. You can then benefit from the flexibility and convenience of checkbook control while enjoying the added protection and peace of mind that an LLC provides.

How to Open a Self-Directed IRA in Minnesota

Opening a Self-Directed IRA in Minnesota is a straightforward process with Madison Trust. Simply open, fund, and invest! Our team is dedicated to providing the guidance and support you need to embark on your Self-Directed IRA journey and invest toward a future as bright as the Northern Lights. Schedule a free discovery call today!

Disclaimer: All of the information contained on our website is a general discussion for informational purposes only. Madison Trust Company does not provide legal, tax or investment advice. Nothing of the foregoing, or of any other written, electronic, or oral statement or communication by Madison Trust Company or its representatives, is intended to be, or may be relayed as, legal, tax, investment advice, statements, opinions, or predictions. Prior to making any investment decisions, please consult with the appropriate legal, tax, and investment professionals for advice.

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