The Solo 401k loan is an attractive feature of the plan. It benefits both the plan and the participant. The Solo 401k participant can borrow from his/her funds within the plan. He/she repays the loan to the Solo 401k, and the Solo 401k receives the amount back with interest. The maximum loan amount is $50,000 […]
Did you ever have difficulty fighting a financial crunch? If you’re a self-employed professional or owner-only business, it is quite likely that you are aware of the situation. With a limited availability of credit or long-list of eligibility requirements, it’s always good to have an additional credit resource available all the time. Our team has put together […]
Ask any financial expert, dipping into your retirement savings is the last piece of advice you could expect. However, some circumstances require urgent attention and your retirement savings can offer the much needed financial cushion. If you’re an owner-only business or self-employed professional with a Solo 401k plan, the IRS allows you to borrow from […]
“A bank is a place that will lend you money if you can prove that you don’t need it.” ~ Bob Hope If you’re a small business owner or sole proprietor, you pretty much understand the essence of Bob Hope’s quote. We all have been there, especially after the economic crisis of 2008. Big banks have […]
“Real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity has devised.” ~ Russell Sage According to a recent survey conducted by the Association of Foreign Investors in Real Estate, focusing its members that hold real estate worth in excess of $2 trillion globally, U.S. remains one of […]
“Don’t find customers for your products, find products for your customers.” ~ Seth Godin As a small business owner or self-employed professional, you already understand the importance of creating products that serve a specific need of your target audience. While this strategy is highly effective for any professional service or product, could the same be […]
Real estate investments allure investors from all walks of life, let it be a real estate investor, a technology professional, an investment banker, or a small business owner, and rightly so. The real estate prices are close to 2008 levels, indicating significant improvement in the housing environment. If you are a small business owner or […]
Most people turn to stocks, bonds and mutual funds when they want to invest for retirement. These assets can be good sources of passive income — but some retirement savers prefer to mix in alternative investments, such as real estate, as well. Solo 401(k) Real Estate plans allow certain investors to do just that. The self-directed plans are designed for […]
Financial problems are the worst nightmares of small business owners; they eat up valuable business resources and cause setbacks. The best strategy is to act proactively and utilize all the available financial resources. Solo 401k might not be the first word that comes in your mind, but it sure does the job. The IRS allows […]
It is possible to have both an employer-sponsored 401k and a self directed Solo 401k at the same time. Many plan owners would like to perform a Solo 401 k rollover to move funds from their existing retirement plans to their newly created plan. The Solo 401 k rollover can be possible for current 401k account, […]