The tax advantages available for saving in an IRA are intended to encourage saving for retirement. To discourage early use of IRA assets, an additional 10% tax applies to withdrawals taken before an IRA owner reaches age 59½.
Non-conventional lending is an immensely popular area for Self-Directed IRA investors. The availability of real estate security along with higher than average returns has attracted many IRA investors into the space.
Because of the significant increase in the federal Consumer Price Index (CPI) over the past year, the IRA and retirement plan contribution limits will be increasing for 2023 – in some cases by a lot.