For small business owners, not having enough funds during retirement could make them unable to afford the standard of living they got used to. In this case, a downgrade in lifestyle may be deemed necessary, but having the best retirement plans for self employed individuals like the Solo 401k plus a good retirement planning strategy could make one maintain his standard of living or even have more in retirement. One of the major concerns of Americans according to the recent Gallup report is retirement. In fact, retirement hits the top spot among other financial worries such as medical costs, debts and monthly expenses.
Saving up for retirement specifically for self employed people must start with dedication and commitment because they are the ones who will fully fund their self employed retirement plans, except having a spouse to help them contribute to the account. The Solo 401k self directed plan is the perfect option for low-risk investments using funds from retirement accounts. The choices this plan offers to participants are all non-traditional and some of them are the best long term investment picks based on survey. Low risk investment can safeguard ones retirement savings, but some low risk investments yield lower income. With the Solo 401k, low risk with high returns investment can be accessed by the participant because they can choose the kind of investments they like. Real estate is an example of low risk with high returns investment choice.
The Solo 401k is indeed one of the best retirement plans for self employed people. Its high contribution limit and built-in Roth sub account can help overcome the effect of inflation which is one of the factors that greatly affects the cost of living in retirement. Maxing out the contribution limits while promptly paying the taxes beforehand can guarantee to generate bigger retirement income in the future.
Debts can ruin retirement planning, but the best retirement plans for self employed individuals can help achieve absolute financial freedom through a debt-free retirement. The Solo 401k retirement plan for self employed individuals has a loan feature available for the account holder. Half of the value of the account or
Sense Financial is
To learn more information about Solo 401(k) for self-employed real estate agents, please visit http://www.sensefinancial.com.
Read the full story at http://www.prweb.com/releases/sensefinancial/best-retirement-plans/prweb11892462.htm
Most Popular Stories
- Criminal Investigation Opened Into James Foley's Death
- Swiss Suicide Tourism Doubled Since 2009
- Wealth Gap Widened in Past Decade: Census
- Florida's Largest Insurer Says 'Bailout' Attacks Unfair
- Gap Reports Higher Profits, India Plans
- James Foley Beheading Sparks Anger, Little Action
- International Revulsion Grows Over James Foley Death
- Beyonce, Jay-Z Cuba Trip Was Legal After All
- Chinese Stock Funds Are a Late-summer Bloomer
- Sears Holdings Loses $573 Million