The Self Directed 401 k is your best option for financial security especially when setting up your pension plan with trusted provider, Sense Financial. Dubbed as the best retirement plan, the Solo 401 k account helps you secure your future particularly when financial problems strike. There are two things you can do with your retirement savings. First, you can use the money to fund a particular investment and earn from it. Second, you can borrow your retirement funds as a last resort to pay off bills, credit cards, debts, and even to start up a new business.
The Self Directed 401 k Helps Grow your Money
According to experts from Sense Financial, you can use your retirement account to have financial growth and productivity. How? You can use your retirement savings to fund your chosen investment in a wide range of industry selections. For instance, you can invest in real estate as in purchasing a single or multi-family home, rental property, tax liens, mortgage notes, and the like. The Self Directed 401 k is perfect for those who are born investors and are not afraid to take a risk just to see their money grow and earn more exponentially. One of the best perks of the Owner-Only 401 k retirement account is the Checkbook Control feature which allows the plan holder to have easy access to their savings as easily as writing a check.
The Profit Sharing 401k Loan Option
Your main goal in establishing the Self Directed 401 k is to have bigger retirement savings to be used for your investments in the future. Thus, the loan option ought to be your last resort especially if you are in dire need of cash. Based on the provisions of the Individual k pension plan, plan owners can actually borrow up to 50% of their total plan value or up to $50,000, whichever is less. The repayment schedule is on a quarterly basis at the interest rate of Prime plus one percent. Moreover, plan owners can use the loaned amount for whatever purpose they deem necessarily, no questions asked.
The Self Directed 401 k is the best choice if you are looking for ways to boost your earnings or to put your hard-earned money in the right place. Start with choosing the right plan provider to have hassle-free and secure transactions as well as a dependable and comprehensive option to help make your retirement money grow.