The real estate 401 k investment is just one of the many perks you get when you venture into the self directed Solo 401k account. The 401 k retirement account is a viable and lucrative investment vehicle. It offers a lot of advantages for retirement investors. For instance, it allows you to maximize your retirement savings through wealth-building investments. There are numerous investment opportunities to enjoy using the Qualified plan 401k.
Eligibility, Real Estate 401 k Investment and More
There are 2 eligibility requirements for those that want to establish the retirement plan. First, you need to show proof of a small business ownership. Make sure that you don’t have any full time employees that are currently working in your company. According to the IRS, full time employees render up to 1,000 working hours per year to the business. The Participant-Only 401k is also referred to as 401 k self-employment retirement account. That’s because eligible plan participants must show proof that they are self-employed. Self-employed individuals work as freelancers, consultants, and independent contractors, among others.
Diversified Earnings and Investments
One of the most lucrative fields to venture into using your retirement funds is the real estate 401 k investment. The real estate niche is a promising and profitable industry for retirement investors. Plan participants can use their retirement money to invest in mortgage notes, tax liens, tax deeds, raw lands, rental properties, and others that are not referred to as “Prohibited Transactions.” These are remarkable wealth-building fields where you can see your retirement money grow and multiply.
Other Perks and Privileges
Plan participants see the difference between the Checkbook Solo k and other traditional IRA accounts. On top of the profitable real estate 401 k investment, the Solo 401 k Checkbook Control feature is another appealing option. This states that plan participants are the trustee of their own account. This eliminates the need for custodian consent and other related custodian charges. The Checkbook Control feature allows you to use and access your retirement money as easy as wiring cash or writing a check.
The real estate 401 k investment is the start of a promising and fruitful retirement venture. You can establish the retirement plan today and experience wealth building from the highest Individual 401k maximum contribution. It gives you various ways to diversify your retirement money and enjoy financial stability upfront. Learn more about the 401 k retirement account and all its privileges.
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