Self-employed real estate investors and professionals know the importance of having financial stability through real estate investing. This financial venture is unquestionably very lucrative and profitable yet demands a big amount of money. One of the most trusted and highly recommended options to help you finance your real estate investment ventures is through Solo 401k. This is considered the best retirement plan especially for real estate professionals and investors who want to boost their retirement account funds. It is specifically designed for individuals who are qualified as self-employed as well as for small business owners without full time staff. This retirement account provides powerful features which you could not get from conventional types of retirement plans such as 401k and IRA.
What makes Solo 401k the best retirement plan for real estate investors?
There are various features that this type of special retirement account has to offer. For instance, it is a flexible and tax efficient retirement solution. It helps you invest in real estate ventures such as mortgage notes, foreclosures or raw lands with tax-deferred and tax-free privileges. Solo 401k plans for self employed and small business owners and investors are ideal if you want to boost your retirement funds through establishing your real estate investment wealth. The plan simply opens a lot of investment and financial opportunities for individuals who are self-employed or proprietors of small scale businesses. There are unlimited potentials for investment in this plan tailored for professionals such as real estate agents. The retirement funds you get from this plan could be utilized for real estate related ventures including tax liens and tax deeds among others.
Difference between Solo 401k and SD IRA
Solo 401k retirement plan is quite different from other retirement accounts such as the Self-Directed IRA. The former allows the plan holder investment of their retirement account funds into any types of investment ventures and at their own volition. There is no need for consent from a custodian in order for them to utilize their funds particularly in investing for real estate wealth. This is one of the many perks of Solo 401k which makes it the best retirement plan especially for small business owners and self-employed professionals such as professionals and agents in the real estate industry.
Solo 401k plan is also great tax sheltering vehicle, compared to an IRA, it allows plan participant to contribute nearly 10 times more.
Free yourself from investing on the wrong stock market and venture into the lucrative and rewarding world of real estate investment. Solo 401k is the best retirement plan and key to exploring the investment opportunities in real estate today.