Imagine putting away as much as $77,500 in a self-directed IRA that will grow tax-free for the rest of your life, all while investing in cash flowing and appreciating real estate assets. In this article I explain how that’s possible with a Solo 401(k) and share the features of this account, as well as how this could potentially work for you.
What is a Solo 401(k) and how does it work?
A Solo 401(k) is a retirement plan designed for self-employed individuals or small business owners with no full-time employees, aside from a spouse. This plan offers the same benefits as a traditional 401(k), including tax-deferred growth and the ability to make substantial contributions each year, but it is tailored for individuals running their own businesses.
The Solo 401(k) is unique because it enables you to contribute both as an employee and as an employer, maximizing your retirement savings potential. The plan provides significant flexibility with contribution limits and offers features like tax advantages and loan options that can benefit self-employed individuals looking for greater control over their retirement planning.
Read More...