Delay Not Your Retirement with Self Employed 401k Retirement Plans
Many Americans are planning to delay retirement for several reasons—they are happy with their work/workplace, they find retirement boring, and they are not yet financially prepared to live the kind of retirement they want. These are some of the reasons why an individual would choose to keep working or running their business rather than spending their golden years away from their respective careers. Among the different reasons mentioned, being financially unready could be the most alarming. Even if you are a small business owner who has a self employed 401k, you could still become financially unprepared if you don’t take your retirement plan seriously.
Taking your self employed 401k retirement plan seriously and making the most of its features will help you forget about retiring to a much older age
Retirement could be really rewarding in a lot of ways especially if you have the funds to support the kind of lifestyle you want. Most individuals, if given the chance, would be more than happy to retire and live the life the way they want, spend more time on their hobbies, find interesting new things to do, travel around the world, and a lot more gratifying things they could afford to do in their later years. An individual 401 k retirement plan could be a helpful source of funds as its investment income could satisfy a worthwhile retirement life.
The Solo 401 k is a powerful type of retirement plan. It has very useful features and its limits are higher compare to self directed IRA. When you max out your contribution up to the limits and make catch up contributions when you reach 50 years old, an abundant retirement income could be achieved. Gains from your contributions are not going to be put at risk because you can self direct your investments to real estate, loans, mortgage notes, and other non-traditional assets that have lesser or zero risk if compared to stocks.
Having enough money in your self employed 401k will give you the option not to delay your retirement. Seeing where your money goes and the control that self directed Solo 401k offers lets you have the peace of mind to being financially prepared as retirement comes your way.
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