The Solo 401K plan is unique and so popular for doctors because it is designed explicitly for small, owner only business.
The Solo 401K is perfect for any self-employed individual or small business owner with no non-owner employees.
n contrast to a self employed IRA, a Solo 401K Plan offers a self-employed individual the ability to use more of their compensation to make Solo 401K Plan contribution
This is one reason why the IRA Financial Group is the leading provider of Solo 401K Plans
The IRA Financial Group will take care of setting up your entire Self Directed 401K Plan.
With an Individual 401K, you will be able to invest in almost any type of investment opportunity that you discover, including: Real Estate
Solo 401K plans have been designed for the self-employed business person and their spouse who have no full-time employees. Contributions to the plan are tax deductible like other self-directed IRA accounts, and the funds are considered to be assets that are intended to grow without being taxed directly as income or capital gains until you withdraw the funds from the account.
An individual 401K Plan can be adopted by any business as long as that business has no full-time employees other than the owner and his/her spouse, an Individual 401K Plan can be established.
There seems to be a growing trend among smart Individual Retirement Account owners and 401k plan holders who are willing to be in the forefront of their finances by investing their retirement funds in their Self-Directed IRA. These accounts require the owners to make investment decisions as well as investments on behalf of their retirement plan.
Self Directed IRA LLC with a checkbook control or checkbook IRA allows the owner to make other investment selections regarding all their future investments. When using a self-directed IRA LLC with a checkbook control in your financial planning, you will have control of your retirement funds. You will be the one to make the decision on how your retirement funds and pension plan funds are to be invested. What this means is that you are in full control of your financial future. Since you are the signer on the checks, there’s no need to get the custodian involved or even ask for permission.