The best 401 k investment starts with a comprehensive and in-depth understanding of the Individual k retirement account. You can easily spot a good retirement investment based on the benefits you can get. A lot of people did not see the need for a retirement plan until it is too late. The establishment of the Solo 401 k plan is possible even years before you retire from your current work or business. Establish a Self-Directed Solo k retirement plan and enjoy the best 401 k investment available today.
Exploring the Best 401 k Investment
Wealth-building is one of the upsides of investing in the Solo k retirement plan. Upon establishment of your account and complying with the Solo 401 k limits, you are entitled of using your retirement funds to the best 401 k investment of your choice. The possibilities of earning and investing are endless especially if you know where to invest and how to do it. There are top notch and dependable plan providers that guide their plan participants into the best 401 k investment.
Here are some of the investment fields where you can use the Owner-Only Solo k retirement policy for surefire income generation:
- Real estate (rental buildings, foreclosed properties, mortgage notes, tax liens, tax deeds, commercial properties, raw lands)
- Precious metals (gold, silver, titanium, platinum, and so much more)
- Foreign currencies
- Private businesses
- Hard money lending
- Stocks and bonds
Exceptionally High Contribution Limits
In order to make the best 401 k investment, you need a large amount from your retirement funds. This is not a problem because the Solo 401 k retirement plan offers high contribution limits compared to SEP IRA or Traditional plans. In fact, the Individual k contribution annual limit is 10 times higher than other retirement accounts. Make the best 401 k investment using your retirement savings from an annual $18,000 contribution for self-deferral options. Plan participants who are over 50 years of age are allowed an additional $6,000 catch-up contribution which makes their total yearly contribution up to $24,000.
The Solo k retirement account is indeed the most viable way to make the best 401 k investment. It allows plan owners to invest their hard-earned money on a lucrative niche of their choice with tax exemption on the generated income. There are numerous other perks from the Owner-Only 401 k plan such as loan options and the custodian-free Checkbook Control feature.
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- Solo 401 k limits
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- Owner-Only 401 k plan