Self Directed IRA allows for a broader range of investments. The retirement accounts offered by banks and brokerage houses limit the types of assets you may invest in; the options are usually restricted to what the financial institution sells-stocks, bonds, mutual funds. Self-directed accounts allow for a much wider array of both traditional and nontraditional investments, such as real estate, precious metals, hedge funds, commodities, private placements, and much more.Self-directed IRAs come in all types. They may be Traditional or Roth (for individuals), SEP (for the self-employed) or SIMPLE (for business owners and their employees). You may also self-direct the holdings in a health savings account (HSA), a Coverdell Education Savings Account, or a 401(k) if your employer allows this as part of its plans.