CHARLOTTE, NC / ACCESSWIRE / July 29, 2020 / With the rise of COVID-19 and the economic fallout it created, Americans are in more need of flexibility with their budget than they have for generations. In fact, in 2019, it was widely reported that many Americans couldn't even swing a $400 payment in the case of emergencies. According to a recent post at American IRA, that uncertainty has led to a lot of fear, panic, and questionable financial decisions.

But are there retirement plan options that may help provide Americans with more flexibility in their budget? For those who have to stay at home, or have been either laid off or furloughed, every little bit helps. And according to the post at American IRA, there are options for families that need to pay the bills.

In one example, according to the post, the Self-Directed Roth IRA can serve as a rainy-day fund of last resort. The logic is simple: because contributions to a Self-Directed Roth IRA are used with taxable money-there are no deductions for these contributions-the government allows retirement investors to withdraw those contributions easily. This, in turn, makes the Roth IRA a flexible way to invest in retirement. While the first priority for any investor should be to keep retirement money exclusively for retirement, there can be some added peace of mind for investors who know that the money in a Roth IRA can serve them in dire emergencies.

The post also pointed to the ability of investors to make tax-deductible contributions in retirement. This makes it more feasible for investors to fit regular investments into a long-term plan while still saving money in the short term.

'When there are crises like these, not everyone is thinking about retirement,' said Jim Hitt, CEO of American IRA. 'And that's for good reason. People out there are hurting, and they are uncertain about their future. But it is important to remember that there may be attributes of these retirement accounts that can help people do their best to manage-and to continue to build long-term wealth that gives them peace of mind.'

For more information about these individual accounts and what American IRA had to say about how they might help with budget flexibility, visit the post at www.AmericanIRA.com. Interested parties may contact American IRA at 866-7500-IRA.

About:
'American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.

The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.

As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term 'they' refers to American IRA, located in Asheville and Charlotte, NC and Atlanta, GA.'

SOURCE: American IRA, LLC