There is nothing more rewarding as seeing your money grow and multiply through quality investments and the highest 2015 Solo 401 k contribution. Numerous features of the Individual 401k retirement plan open opportunities of wealth-building such as the 401 k real estate investment. Before you make an investment on a retirement plan, it is imperative to know more about the Solo k retirement plan on top of detailed information regarding the 2015 Solo 401 k contribution.
2015 Solo 401 k Contribution and More Features
For serious retirement investors, it is not enough to secure your money in a retirement plan. With the Solo 401 k retirement policy, you also get tons of opportunities to make your money grow. Here are some of the most important points you need to learn about the Individual 401 k retirement account:
Higher Contribution Limits
The updated 2015 Solo 401 k contribution is almost ten times higher compared to Roth IRA or Traditional IRA plans. The total annual salary deferral contribution is up to $18,000 with an allowable catch-up contribution of $6,000 for plan participants who are over 50 years old. This makes a total of up to $24,000 contribution for 50 years old plan owners for salary deferral options. Another contribution type is profit sharing, where participants can contribute up to $53,000 or $59,000 for plan owners who qualify for the 50 year old age requirement.
On top of the impressive 2015 Solo 401 k contribution, the Solo k retirement plan also allows plan participants to have significant control over their retirement funds. There is no need for custodian consent because the plan owner automatically becomes the plan’s trustee. Plan owners can use their huge retirement savings from a high Solo 401 k maximum contribution without additional costs on custodian fees.
Using your savings from your 2015 Solo 401 k contribution is as hassle-free as writing a check. Moreover, you can enjoy true diversification of investment as you can use your retirement funds to invest in real estate, stocks, precious metals, and even private businesses. Your options are limitless as long as you don’t engage in prohibited transactions according to the Solo k rules.
The Self-Directed 401k plan is one of the most popular options for a retirement plan that allows wealth-building while you save your hard-earned cash. A lot of retirement investors see the difference that a higher 2015 Solo 401 k contribution can offer for better investment and wealth-building.
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