ASHEVILLE, NC / ACCESSWIRE / September 14, 2020 / What do investors need to know about a Self-Directed Solo 401(k) plan? According to a recent post at American IRA, a Self-Directed IRA administration firm based in Asheville, NC, there is more than any one particular fact. A Solo 401(k) plan is a tool for entrepreneurs and solopreneurs and the self-employed to put aside a lot of money for retirement, particularly with its high contribution limits. But as American IRA recently pointed out, there are individual quirks to this plan worth learning before investors get started.
The Self-Directed Solo 401(k) is especially good for investors who want to put away a lot of money, according to the post. This is because the 401(k) has high contribution limits-much higher than the Traditional or Roth IRA. And because the Self-Directed Solo 401(k) uses before-tax money in the form of deductible contributions, it can save a lot of money for people who want to create an aggressive savings plan.
Asheville, NC The post also noted that the account is for "solopreneurs." In other words, there may be some limits when it comes to expanding the amount of people that a self-employed individual has in their company. There are other account types that make sense for an expanding or growing company, such as a SIMPLE IRA.
American IRA included several points in its summation on the Self-Directed IRA, noting that maintenance for a Self-Directed Solo 401(k) plan is easy when working through a Self-Directed IRA administration firm that handles many of the particulars involving paperwork. Having a Self-Directed IRA custodian is an integral part of the process, argues American IRA. And with the nontraditional retirement assets available with a Self-Directed Solo 401(k), investors who handle things this way would have more potential options for creating a diversified portfolio.
The post is available at the American IRA blog at www.AmericanIRA.com. Anyone who is interested in learning more about the Self-Directed Solo 401(k) or American IRA can contact the Self-Directed IRA administration firm at 866-7500-IRA.
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC. The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville and Charlotte, NC and Atlanta, GA."
SOURCE: American IRA, LLC