For those looking to get the most out of their retirement savings, the Solo 401(k) is the best option currently available. Those who qualify for the Solo 401(k) are able to contribute up to $55,000 on a yearly basis (more if your 50 or older), invest in any asset allowed by the IRS, and finally, not pay an arm and a leg in fees.
You can contribute up to $55k to your Solo, and take huge tax deductions.
Invest in anything allowed by the IRS.
Borrow up to $50k from your Solo 401(k), and pay yourself back over time.
Enjoy all of the tax protections of a 401(k), whether you have a traditional or
Solo 401(k) account holders may be able to contribute up to $55,000 ($61,000 if 50 or older). $18,500 ($24,500 if 50 or older) can be a straight deferral of income, and the remaining $36,500 comes from profit sharing.
Investing is easy with a Self Directed IRA from Rocket Dollar. Use your retirement funds to pursue an almost unlimited number of investment options. No longer limited to a predetermined menu of mutual funds, you are able to pursue opportunities in:
Real Estate (Rental Properties, Commercial Funds, etc)
Hard Money Lending
Startups and Private Companies
Stocks and Bonds
With a Solo 401(k), you are able to instantly make a loan to yourself for half the value of your plan, up to $50,000. Best of all, this money can be used for anything. Whether you’d like to make an investment outside of your 401(k), bridge a dip in income, or anything else you need cash for, a loan from your Solo 401(k) is a quick, guaranteed line of credit.
Your investments will grow tax-advantaged until you retire (or forever if you have a ROTH). Combine the power of all the investment options available to you and the tax protections of a retirement account makes for a powerful combination.