One of the most important things to consider when establishing the Qualified 401 k retirement account is to choose the best 2015 Individual 401k plan provider. Nowadays, your options are definitely overflowing but only a few can deliver the best services. Take note that the ability to maximize potentials of the Individual k retirement plan mainly depends on the plan provider that facilitates the usage of your plan.
Choosing the Best 2015 Individual 401k Plan Provider
It is important to choose the right plan provider because in most cases, you can only enjoy the benefits of the plan if the plan administrator helps you maximize it. For instance, not all plan providers facilitate the needs of the participants to loan from the Individual 401 k especially when it comes to paperwork for loan application approval. The best 2015 Individual 401k plan provider takes care of all the documentations required so that you can borrow up to $50,000 or 50% of your total plan value.
Choose the best 2015 Individual 401k plan provider who offers free consultation to their prospective clients. These are plan administrators who also regularly conduct wealth-building activities and seminars to enrich the experience and knowledge of the plan participants.
More Self-Directed 401 k Advantages
Unlike any other retirement plans, the Participant-Only 401k offers 10 times higher 401k contribution maximum limit, compared to a regular IRA plan. The total combined contribution limit is $59,000 for profit sharing and for participants who are 50 years old and older. The best 2015 Individual 401k plan provider also helps plan participants to invest their retirement money in profitable and lucrative fields such as real estate. Most importantly, the right plan administrator helps participants avoid Prohibited Transactions that could jeopardize their earning and incur penalties in the long haul.
The Checkbook Control feature is one of the most popular reasons why the Individual k is a remarkable retirement plan option. The best 2015 Individual 401k plan provider helps you take total control over your retirement funds and avoid any custodian consent or related fees. This feature also enables plan participants to access and invest their money on allowed investment fields and use them as easy as writing a check.
Choosing the best 2015 Individual 401k plan provider is the key to opening countless earning opportunities through the Owner-Only 401 k retirement account. Make sure you find the right people to guide and help you on your quest to wealth-building and financial success.
. loan from the Individual 401 k
. 401k contribution maximum limit
. Qualified 401 k retirement account
. Self-Directed 401 k advantages