Why worry about retirement when you have the choice to set up the best retirement plans for self employed individuals?
The best retirement plans for self employed people will answer the topmost financial concern of most middle aged Americans these days— which is the worry of not having enough money for retirement. Other financial concerns that Americans mostly worry about following retirement are the inability to pay medical bills when accident or serious illness arise and the worry of not being able to keep the standard of living they got used to. This is a report made by Gallup on the first week of April this year.
So what exactly is the best retirement plan for self employed? There are two types of self employed retirement plans most financial service providers offer. This is the Solo 401k which is considered as one of the best 401k plans for individuals with small business without any fulltime staff and the SEP IRA which is the best ira for self employed owners of large business. The best thing about these plans is that both can be self-directed according to the choice of the participant. When self-directed, the retirement funds can be invested by the account holder to any non-traditional investment options with the assistance of their plan provider.
Self directing an account allows the participant to utilize his or her own savings in the investment he or she is familiar with. Non-traditional assets include real estate, precious metals like gold and silver, start-up businesses or private entities, as well as loans, tax liens and tax deeds. These are considered as tangible assets that an investor could control which lessens the risk of losing funds in investments. Unlike traditional assets, non-traditional investments like real estate are safer especially if you know the how-to’s of your chosen investment vehicle.
You can completely eliminate your retirement worries by choosing any of these plans that will suit the self-employment type you are currently in. Also, partnering with the best providers of the best retirement plans for self employed will make you more at ease and confident that you will achieve your retirement goals.
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