Self-directed IRAs provide the owners with greater control over their investment accounts. A trustee or custodian is responsible for managing these IRAs, but the owners are still responsible for making investment decisions. These IRAs also allow individuals to invest in a broader range of assets, including private businesses, precious metals, and real estate. There are several self-directed IRA types, including solo 401 (k)s, Roth, and traditional. Each of these IRAs comes with unique rules and regulations. These IRAs can also be an excellent option for individuals comfortable making investment decisions. However, self-directed IRAs still come with additional responsibilities and risks.