TITLE

IRAs offer creative option for raising money

AUTHOR(S)
Maxwell, Paul E.
PUB. DATE
December 2005
SOURCE
North Western Financial Review;12/15/2005, Vol. 190 Issue 24, p8
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents information on the individual retirement account (IRA) plan offered by some new banks. Banks are offering this plan in order to find the elusive perfect investor. It has been estimated that more than $3 trillion resides in IRA plan. A stir has been created in the financial services industry due to the growing interest in self-directed retirement plans. According to many de novo they were able to gather upwards of 25 percent of their capital from such sources. This plan is not only proving beneficial for these banks but also for the investors as all gains on the investment will be sheltered in a tax-deferred environment.
ACCESSION #
19585700

 

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