Solo 401(k)s have become a popular retirement plan option for self-employed persons. Unfortunately, many of the plans are not properly maintained and are at the risk of significant penalty and/or plan termination. If you have a Solo 401(k), you need to ensure that the 401(k) is being properly maintained. Here’s a quick checklist to make […]
“If you’re not willing to risk the usual, you will have to settle for the ordinary.” ~ Jim Rohn Many freelance professionals or self-employed individuals would connect with what Jim Rohn said. Working as a freelancer has its own set of challenges and benefits, and judging by the numbers, freelancing is catching up in the […]
Owning and operating a small business is a popular trend in the U.S. According to a report, more than 28 million small businesses operate in the country out of which, 22 million are self-employed, with no additional employees. When it comes to self-employment, a lot of people consider financial independence as one of its biggest […]
“Save your money. You’re going to need twice as much money in your old age as you think.” — Michael Caine If you’re self-employed and trying to boost your retirement savings, Solo 401(k) plans are a potential option. Solo 401(k) plans are qualified retirement plans for self-employed professionals and business owners with no employees other […]
“Buy land, they’re not making it anymore.” ~ Mark Twain Being real estate investors, none of us could deny what Mark Twain said here. Whether you’re just starting with real estate investing or have a long track record, you always want certain things to work in your favor. For starters, a day with 28 hours […]
If you have a self-directed IRA with non-publicly traded assets like real estate, private stock, or an LLC interest, you’ve definitely been asked for an annual fair market valuation for the assets in your account. Why does your IRA custodian ask for this every year? Because they have to. An IRA must report its fair […]
Financial planning is an important aspect of real estate investing, and most of the realtors pay special attention to it. However, when it comes to retirement planning, we often prioritize other financial responsibilities instead. It’s critical to understand that you’ll need at least 80% of your current income to maintain your current standard of life […]
Have you hired a CPA yet? Decided whether you want to file for an extension? For investors in particular, all of these looming 2017 tax deadlines might seem daunting. If you’re wondering where you should focus your attention as April approaches, use this visual representation to organize your thoughts. 2017 Tax Deadlines Investors Can’t Miss […]
What does “living the dream” mean to you? If you’re like so many other digital nomads, or people wanting to become nomads while running their own business, it means being able to operate and service your clients and customers from anywhere in the world. Having the freedom to move around as you see fit, […]
“The beauty of diversification is it’s about as close as you can get to a free lunch in investing.” ~ Barry Ritholtz When it comes to investing, not everyone holds an in-depth understanding of the different types of financial assets. For the average investor, it’s advisable to diversify his/her investment portfolio. The same rule applies […]