𝑩𝑬𝑾𝑨𝑹𝑬! The Dangers of Private Lending

We had a special guest with us for episode 163 of the Real Power Family Radio Show! Ryan Cura joined us to share his insights on using an IRA for private lending.

Ryan is leveraging his IRA to build wealth HIS way; self-directing his investments outside of the stock market and lending out his IRA funds.

This strategy allows him to grow his retirement account significantly, even though he can't access the funds until he hits retirement age.

He and Eric discuss some of the key steps anyone must take when lending their own money to someone doing a real estate deal. Because there are absolutely potential pitfalls involved, and it's crucial to understand both the benefits and the risks associated with private lending.

Ryan's approach highlights the importance of making your money work for you, especially when it comes to retirement planning. By lending out his IRA, he not only keeps his funds active but also benefits from the interest earned on these loans.

𝗥𝗶𝘀𝗸 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁: It's vital to thoroughly vet potential borrowers. Trust and track record are essential factors. Ryan emphasizes trusting the person you lend to and understanding their financial history.

𝗜𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻 𝗔𝘄𝗮𝗿𝗲𝗻𝗲𝘀𝘀: Simply letting your IRA money sit idle guarantees a loss due to inflation. Investing it wisely helps combat this issue and grow your wealth.

𝗦𝗲𝘁𝘁𝗶𝗻𝗴 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀: Establish your own criteria for what makes a borrower qualified. This might include looking at their financial statements, credit history, and business plans.

𝗖𝗼𝗻𝘁𝗶𝗻𝘂𝗼𝘂𝘀 𝗟𝗲𝗮𝗿𝗻𝗶𝗻𝗴: The financial landscape is constantly changing. Keep educating yourself and adapting your strategies to maximize your returns and minimize risks.

How do you manage your retirement investments?
What criteria do you use to vet potential borrowers?
Share your thoughts and experiences in the comments below!

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