Retirement investment is one of the most popular options for plan owners who want to try wealth-building in limitless investment fields. You have a wide array of choices when it comes to the best Solo 401 k investment. Most plan participants are quite uncertain on how they can boost their retirement savings and make their money grow when they first established the Individual k plan. However, a reliable plan provider makes all the difference. Not all plan administrators could guide you into making a lucrative retirement investment. Thus, before you establish the Owner-Only 401 k plan, make sure you choose the best plan facilitator.
Types of Retirement Investment
The maximum Solo 401 k contribution is deemed ten times higher than Traditional or Roth IRA retirement plans. Thus, plan participants enjoy much bigger retirement savings that they can use for wealth-building and financial growth. Here are some of the choices plan owners have in terms of retirement investment for the Solo k funds:
Real Estate
One of the most lucrative and viable options where you can invest the self directed Individual k retirement funds is through real estate. A lot of plan participants see huge returns on investment when they invest their retirement money in this particular niche. Your retirement investment in real estate may be in the form of buying a rental property, mortgage notes, tax liens, tax deeds, raw lands, and multi-story buildings.
Precious Metals
Gold, platinum, silver, and titanium are just few of the precious metals which you can include in the Participant Only 401 k retirement investment. Profit is highly possible especially in trading rare metals in the stock market.
Stocks and Bonds
Foreign exchange trading and foreign currencies are also good options for the Self-Directed retirement investment. You can also buy stocks and bonds for trading and a reliable plan provider can help you know and understand good markets that offer high potential returns.
Hard-Money Lending
A lot of plan participants get viable profits in this type of retirement investment. Make sure you don’t cross the line between allowed and prohibited transactions according to the Solo 401 k rules and regulations to avoid penalties.
The Solo 401 k retirement investment is indeed a remarkable way to boost your retirement savings in lots of investment fields available out there. The 401 k retirement plan promises outstanding income generating sources but you need the assistance of the experts, particularly plan providers for your wealth-building quest.
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