The financial gurus tell us we should save 10% of our annual income in order to have enough cash to last through our retirement. Most of us are not in a position to save this kind of money due to the rising cost of everyday living. Just look at the gas pump!

Some of us might feel we don’t have the financial resources to start stashing cash until we are in our 40s and even then, it could be a stretch. Yet, waiting until you are over 40 to start socking money away is not a wise idea. After all, had you started saving $100 per month at age 20, earning 7% a year, you would end up with $381,472 by the time you turn 65. However, if you wait until age 40 to start saving $100 at 7%, you would only have $82,056. Would of, could of, should of, right? WRONG!

One of the few tax enhancements we all have is our IRA or 401(k). No matter how old you are, every dollar you put away in your retirement plan today compounds at some interest rate on a tax deferred or tax free basis for your future!

If you could start putting away the maximum amount allowed in your IRA or 401(k) at your place of employment, that’s a start. Bonus if your company provides matching money! Of course, I believe in the truly self-directed IRA where a portion of my retirement account is invested in what I choose—real estate, gold, investing in a new business, or investing in energy are just a few examples. Did you know there are over 40 different asset types one can invest in with their self-directed plan? By having a portion of my retirement account in a self-directed plan, I have the ability to steer my funds into investments I feel have the best potential for growth.

In these difficult financial times, now more than ever, you need to take control of your financial future, even if you think you have very few dollars to contribute. Look into a self-directed IRA… you will thank yourself when 40 turns to 50 turns to 60. By the time you start taking distributions, you will have figured out how to max that cash because no one cares more about your money than you!

To learn how a truly self-directed retirement plan (not offered by traditional brokerage houses!) works, visit The Entrust Group ( Take a tour of the web site, download the newsletters and view special reports that can help you overcome financial procrastination and maximize your retirement plans!

Author's Bio: 

Lisa Moren Bromma has been a real estate investor since 1978, a note investor since 1998 and has worked with some of the top private mortgage institutional buyers. She is President of The Entrust Group, the nation’s largest network of self-directed IRA administrators, and the author of Real Estate Investing for the Utterly Confused, and Wise Women Invest in Real Estate. Visit her web sites at and