Fund Your Business With An Individual Solo 401(k) Loan
- Pay no penalties or taxes – take out a $50,000 loan or 50% of the account value
- Use the Individual 401(k) loan option to fund your business
- Enjoy low interest rates with your Individual 401(k) Loan
- Receive expert service with IRA Financial’s in-house tax professionals
- Be your bank and pay yourself back with interest.
Why Should You Choose IRA Financial
IRA Financial Group’s tax and ERISA specialists have helped more than 12,000 clients self-direct their IRA and invest $4 billion in alternative assets, such as real-estate.
Founder of IRA Financial Group and former tax and ERISA attorney, Adam Bergman, has published seven books to help investors self-direct their individual retirement account.
Find IRA Financial Group on Forbes! Adam Bergman is a frequent contributor to Forbes.com and an official member of the Forbes Financial Council.
Experience You Need
IRA Financial Group has over a decade of experience helping investors self-direct their retirement accounts.
Tell Us What You Need
Our team will work one-on-one with you to establish a Self-Directed IRA, Solo 401(k) or ROBS solution that fits your goals.
Benefits of Using 401K Loan
Quick Access to Funds
When you need to quickly access money to fund your small business, use the Individual 401(k) Loan feature. Because it’s a loan and not a withdrawal, you won’t be penalized for the money you take out.
Investments You Trust
The Individual 401(k) allows you to invest in traditional assets, like stocks, as well as alternative assets, like real-estate. Invest more confidently in assets you know and understand. This also diversifies your retirement portfolio.
Enjoy the peace of mind knowing that your Individual 401(k) is protected against creditors in a bankruptcy proceeding. This is thanks to the Employee Retirement Income Security Act of 1974, otherwise known as ERISA.
The Roth IRA prevents higher income earners from contributing to a Roth IRA, or from converting their IRA to a Roth. The Individual 401(k) Plan has a built-in Roth sub-account that you can invest into no matter how much you earn. Benefit from tax-free investments
Compare to the SEP IRA
Small business owners prefer this over the SEP IRA because of the Individual 401(k) Loan feature, higher contribution limits, Roth contribution option and the diverse investment opportunities. The SEP IRA lacks in these areas.
Retirement Portfolio Diversity
An Individual 401(k) Plan lets you diversify your retirement portfolio. No longer make all investments in equities, like stocks and bonds. Now you can invest in alternative assets like real estate and tax liens thanks to “checkbook control.”
Self-employed participants who are 50 and older can make contributions as high as $25,000. If you’re 50 or younger, you can contribute $19,000 to the Solo 401(k). Compare this to the SEP IRA contribution limit, which is only 25% of employee compensation.
Easy to Administer
Not only does this plan allow you to take out an Individual 401(k) Loan, but you can reach your maximum savings faster than with an SEP IRA. It’s also straightforward and much easier to administer because there are fewer filing requirements.
“What about your IRA, including rollover IRA? You need to look at state law, advises tax attorney Adam Bergman of New York’s IRA Financial Group.”
“Adam Bergman…gets several calls a day from clients like McDermott looking to invest their retirement funds in real estate. ‘Our average client has retirement accounts of about $150,000 and is looking to buy one or two properties.'”
“Jeff Brown…transferred roughly $50,000 from his workplace 401(k) to purchase homes to fix up and sell…He uses a self-directed IRA that he set up through IRA Financial Group in Miami Beach.”