Uh Oh
SAN FRANCISCO--(BUSINESS WIRE)--Oct. 14, 2005--Once a fraction of the $3.7 trillion IRA market, self-directed IRAs are now the fastest growing segment. Roughly 75% of new retirees roll their 401K retirement accounts into IRAs they control and can diversify beyond stocks and bonds.Actually, this could be a scary notion. Boomers took a huge whupping in stocks during the dot.bust, and now they want to shovel what's left into a possible real estate bubble? And for those already in, how fast will they head for the exits if this bubble starts to collapse, and what will that mean for the market? Nothing good, I'm afraid."Most of this country's wealth is in real estate and small business ownership," says Tom Anderson, founder of PENSCO Trust Company, the only US firm dedicated to the administration and custody of self-directed IRAs. "And investors over 40 are clamoring for the tax benefits of holding their tangible assets in IRA accounts."
Angry investors ask, "Why didn't my CPA tell me?"