The Self-Directed 401 k advantages make your retirement plan the most lucrative and profitable. According to the Individual k retirement account rules, the plan participant is eligible to enjoy some of the best privileges for the 401 k retirement plan that no other plans can offer. The Solo k retirement plan is one of the most popular choices among retirement investors due to its wealth-building potentials. It is best to learn more about the retirement plan in order to have a clear picture of the Self-Directed 401 k advantages.
The Self-Directed 401 k Advantages Exposed
Did you make the right choice in establishing the Individual k retirement account? There are various features of this popular retirement plan for self-employed and small business owners that make the plan the best tool for lucrative investment. If you want to enjoy your retirement savings through viable investment and tax-free benefits, take a look at some of the Self-Directed 401 k advantages such as the following:
The 401 k Plan Loan
The loan option of the Solo 401k is one of the most appealing features of the retirement account. However, take note that not all plan providers are amenable to offering the loan option. One of the Self-Directed 401 k advantages is that plan owners can actually borrow from their retirement savings, which is 50% of the total plan value. Qualified Plan 401 k participants are eligible to loan up to $50,000 if their retirement funds allow it.
Checkbook Control 401 k
The Self-Directed 401 k advantages also offer total control and access over your retirement savings through the Checkbook Control. The plan owner is the trustee of his own account which also ensures low cost administration. There are no custodian consents and fees required in order to access and invest your retirement funds.
Diversified Investment and Earning
One of the Self-Directed 401 k advantages is the wide range of investment opportunities you can take advantage of. Plan participants can use their retirement savings in real estate, raw lands, mortgage notes, tax liens, tax deeds, and precious metals among many others.
The countless privileges you can experience from the Participant Only 401k are indications that you are making the right choice in establishing the account. The Self-Directed 401 k advantages offer remarkable opportunities for retirement investors to become successful in their field of investment without tax restrictions especially with the Solo k Roth sub account rollover.
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