The Self Managed Individual Retirement Account (SDIRA) is a variation of the traditional or Roth Individual Retirement Account (IRA).
You can own a variety of alternative investments, including real estate, in self-managed IRAs that you cannot do in conventional IRAs.
Standalone IRAs are generally only available through specialist firms that offer SDIRA custody services.
Custodians cannot give financial or investment advice on SDIRA, which means that any research, due diligence and asset management is solely the responsibility of the account holder.
There are other risks associated with SDIRA, including fees and the possibility of fraud.