Hardship 401k Withdrawal

August 15th, 2011

A 401k is meant to be used as a savings tool to put money away for your retirement. In some cases, you may be able to withdraw money before you are 59 1/2 years of age. However, it is usually discouraged, except if you are in dire straits. If this is the case, you may be able to take a Hardship 401k withdrawal. To withdraw money from your 401k, you must be able to show you are in a hardship situation. Situations that would be allowed to take a Hardship 401k withdrawal would be eviction, foreclosure or difficulty in paying for your basic living expenses.

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Best Reasons for Having a Self Directed IRA

June 8th, 2011

Having a self directed IRA is important for independent business owners, because a self directed IRA provides financial stability. Some self-employed people have no idea they can still enjoy the benefits a self directed Roth IRA has to offer.

A self directed Roth IRA allows a person to use retirement funds to invest in real estate, businesses, precious metals, oil, and other commodities. Self directed IRA real estate investments can help any retirement account to explode with profits. Real estate makes a great investment for a solo 401K, because individuals can live within real estate while it accumulates value. In addition, real estate foreclosures are usually very affordable and can be a profitable way to start off any solo 401K retirement account.

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