Too many people are afraid of the uncertainty and confusion in the investment markets. They hope and dream that one day they can retire with enough money in their portfolio to live comfortably when they are older. They trust their financial advisors and 401(k) investing managers implicitly with this task. They believe they’re doing the right thing by letting a licensed professional actively manage their retirement accounts.
Based out of Florida, Internet entrepreneur Tim Schmidt had an entirely different plan in mind. He changed his thinking completely about traditional retirement investing. And in his early 30s, he finally decided to take action. He saw what happened during the housing market crash and the devastating losses that so many experienced on the stock market in 2008. Even more important, Schmidt saw the writing on the wall. Although he felt terrible, he didn’t want to become another victim to lose half of his retirement portfolio in the next crash. He wanted to safely secure his investments to protect his financial future for him and his family. Schmidt had to push past his feelings and traditional investing mentality to open a self-directed IRA to begin the process of protecting and building his future wealth.
Schmidt became an entrepreneur before he even turned 10 years old. He began his foray into the business world working odd jobs like cutting grass and shoveling snow in the Twin Cities area located in Minnesota. But he didn’t stop there, because he continued to develop his entrepreneurial mindset and it really began to flourish while in college. During this time, he started making money promoting parties, starting a customized compact disc business out of his dorm room, and he also sold term papers on the Internet. Schmidt secured a job with Accenture after graduation, but the financial crisis was in full swing so the company put his job on hold for 24 months. Tim made a life-changing choice during this time that set the tone for his current success. Instead of waiting for his position to reopen, he chose to pack everything he owned and moved to Miami, Florida. Not long after he got there, Schmidt began working at a search engine optimization agency as a sales consultant.
Moving forward into the future, Schmidt worked hard and dedicated himself to becoming a successful entrepreneur. During this period of massive growth, Tim created and developed a multimillion dollar business. And the digital marketing world looks upon him with awe because of his massive success. Best of all, Schmidt was able to accomplish his goals and dreams outside of a traditional corporate environment wearing surfing shorts and throwback baseball jerseys. By grabbing life by the horns, he never had to worry about a boss or manager looking over his shoulder and this allowed him to live life and grow on his own terms. Tim reconnected with his college roommate and friend who happened to head a Midwest office of New York Life and asked him for financial advice. Before long, Tim opened a retirement account and a college fund for his son that his friend managed. Schmidt also made the life-changing decision to begin handling his own investments. He realized that nobody would care for and protect his retirement wealth better than he could.
According to information discovered on Schmidt’s retirement website IRAInvesting.com, he initially opened his self-directed IRA account to invest in real estate, gold and precious metals, and cryptocurrencies like Bitcoin and Ethereum. He is an avid investor in the equities market as well and enjoys and appreciates the responsibility of personally managing his self-directed IRA account. When contacted for a comment, Schmidt said, “Investing in a self-directed IRA account is phenomenal because I can focus on nontraditional investments and areas where I have specific expertise. One example is my investment partnership with Graze, a Food Hall in the North Loop of Minnesota. It isn’t possible to enter into groundbreaking opportunities like this with traditional retirement investing. But my self-directed IRA account makes this unorthodox investment possible.”
On his website, Schmidt writes about the ins and outs of the investing markets from his home in South Florida and covers precious metals with great detail. He also discusses the impact of the Covid-19 pandemic and its effect on the world and the global financial markets. “I always approach life with complete transparency, whether in person or on my website. My guest writers and I tell it like it is with our personal investments and share all the particulars whether we win or lose.”
Nobody should be surprised that Schmidt decided to manage his own money. A year ago Tim wrote and published “Amplifying Average” and turned it into an Amazon bestseller. In his book, there is a chapter about living outside your comfort zone. “Force yourself to step out of your default patterns every single day and, pretty soon, it will become a habit. That’s exactly when the good [stuff] will start happening.”
It’s impossible to predict the future. No one would’ve guessed what happened in the US and the rest of the world in 2020 yet here we are. Schmidt’s retirement investing experiment could be a huge success or a dismal failure. Follow his website every day in real time to keep track of his progress.