There are numerous retirement plans out there but nothing comes close to the benefits and upsides of the Solo 401 k. On top of the numerous features, the 401k limits maximum contribution is considered the highest compared to other retirement policies available in the market. Thus, it is much wiser and advantageous to opt for the Owner-Only retirement plan today. Trusted administrators such as Sense Financial led by CEO, founder and real estate expert, Dmitriy Fomichenko, could guide you towards establishing the retirement plan that would take care of your future. Moreover, if you avail of the Roth Solo 401k plan, you can get more privileges to boost your retirement funds.
Why the Individual 401 k retirement plan?
You can find tons of reasons why you must establish and secure the Solo 401k retirement policy. However, it is equally imperative to learn more about other basic points including the eligibility requirements when you open an account. There are two main qualifications for you to have and enjoy the benefits of the Solo 401k plan:
- You must be self-employed which means you can be a full-time employee of a particular company but still have self-employed activities or business on the side. Self-employed activities include side jobs as a consultant or an independent contractor.
- You must be an owner of a small business. Small scale enterprises or businesses are those without full-time employees. Moreover, you and your spouse must be the only full-time employees of the business.
The Roth Solo 401 k Features: 401k Limits
This is a powerful feature of the retirement plan aside from the highest 401k limits. For instance, it is considered a tax-free solution to remedy your retirement funds and savings. Through an after-tax contribution, you get to enjoy tax break to boost your money, invest and withdraw and use your funds. It is important to note that this specific feature does not instantly provide tax breaks however its powerful upside provides solutions in a long term basis. You can check some other outstanding features through the 401k online sources particularly the Sense Financial website.
The Individual 401 k retirement plan is a truly lucrative feature for those who are preparing for their golden years. In the midst of an unstable economy, it helps to have a dependable and highly lucrative investment starting with a retirement policy with high 401k limits that works.