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What is a Self-Directed IRA and what are the benefits?

A Self-Directed IRA, or SDIRA, is a type of IRA that allows an individual to directly manage their investments first-hand rather than having to operate through an intermediary. SDIRAs open up doors to a wide variety of alternative investment opportunities. Some examples include cryptocurrency, real estate investments, partnerships, and even franchises. Individuals who choose to open SDIRAs are responsible for due diligence, research, and management of assets within their account, as custodians are not allowed to provide financial or investment advice for these types of IRAs.
The Dorado platform provides a simple and easy way to create your very own self-directed IRA. For a one-time fee of $299 and just $20 a month, you’ll receive a fully-compliant Self-Directed IRA (Traditional or Roth), a new IRA bank account with checkbook control, and yearly compliance and administrative services all done for you.