There are varieties of Solo 401k investment options that an individual with small business could choose from
The Solo 401k investment options depends on what type of Solo 401k for small business owners he or she signed up for. There are two types of Solo 401k, the brokerage based plan and the self-directed plan. Between the two, the Solo 401khas been known for its self-directed plan since other brokerage based Solo 401k is somewhat similar to the traditional 401ks except for some certain features.
When you sign up for Solo 401k brokerage based plan, your investment options are limited only to stocks and mutual funds. On the other hand, self-directed Solo 401k plan allows an individual to invest his or her funds to several Solo 401k investment options such as real estate, loans, businesses, gold and silver, tax liens and tax deeds, and other types of investment vehicle you feel convenient putting your retirement savings in.
If you are a plan holder of the self-directed plan, there is no better way to invest your retirement savings than the investing on the kind of assets you are proficient at or at least something you know about. Most account holders would make Solo 401k real estate investments as this is the most popular choice for tangible assets among independent investors as well as retirement investors.
If your retirement plan has enough savings, then your Solo 401k investment options are not limited to just one type of investment. Diversification of investments is always possible and your financial service partner would be glad to assist you and discuss with you what could be the best investment choices for your hard earned money. Diversifying your retirement portfolio is never too difficult when you have a self directed Solo 401k plan, and this is one of the reasons why more and more small business owners are signing up for this ultimate retirement plan.
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