“The major fortunes in America have been made in land.” ~ John D. Rockefeller If one of the richest men in the American history sees real estate as an opportunity, chances are that you will too. Real estate has proven to be one of the consistent favorites of wealthy men throughout the history, let it be […]
“The most important thing in terms of your circle of competence is not how large the area of it is, but how well you’ve defined the perimeter.” ~ Warrant Buffet Are you a real estate investor? Yes or perhaps you plan to get into it. If that’s the case, real estate is likely to be your […]
The 401(k) plan is known to be one of the most cost-effective and tax-advantaged savings vehicles for your retirement. What’s more, it doesn’t only serve as an investment, but also as a financing option. 401(k) contributors can tap a portion of their investment on a tax-free basis, so long as it is allowed by their […]
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted on March 27, 2020 to provide short-term financial relief to those who have experienced adverse financial consequences from the current pandemic. The CARES Act includes expanded provisions for Coronavirus-related distributions and participant loans. Solo 401k owners can utilize these expanded provisions under the CARES […]
So which is better: foreign or domestic property investment? The value of a real estate investment, and the growth of that value, is determined by a number of factors. These include desirability, security, popularity, improvements, and area preference. In terms of land, things like transferability, demand, scarcity, and utility come into play. Make the right […]
Guest post by Eva Benoit If you are a stay-at-home mom, it’s likely you aren’t short on work. However, many stay-at-home parents miss the challenges that come with a job including the financial compensation. What you need is a flexible home gig that allows you enough time to handle your household tasks while helping you […]
All retirement account owners must be familiar with the required minimum distribution (“RMD”) rules applicable to their accounts. These rules require you, in most instances, to take partial distributions from your retirement account when you reach age 70 ½. And, surprise, the rules for Traditional IRAs, Roth IRAs, and 401(k)s differ. In fact, even 401(k)s […]
Self-Directed IRA investors should be aware of the following IRA tax reporting responsibilities. Some of these items are completed by your custodian and some of them are the IRA owner’s sole responsibility. Here’s a quick summary of what should be reported to the IRS each year for your self-directed IRA. IRA Custodian Files Your IRA […]
Guest article by Jamie Moulton With the rise of any investment, people tend to ask themselves whether it is the best investment mean. What are the opportunity costs? And should they exit other investments and pour their savings in this mean? All these questions are being asked again these days while we are seeing bitcoin prices […]
Dmitriy Fomichenko, President of Sense Financial Services LLC, a leading provider of self directed Solo 401k and IRA with checkbook control, has been accepted into the Forbes Finance Council, an invitation-only community for executives in accounting, financial planning, wealth and asset management and investment firms. Dmitriy Fomichenko joins other Forbes Finance Council members, who are […]