ASHEVILLE, NC / ACCESSWIRE / January 11, 2021 / What is a Self-Directed Solo 401(k), and what types of investors might be a match for it? That is the question recently posed at American IRA; a Self-Directed IRA administration firm based in North Carolina. According to the post, a Self-Directed Solo 401(k) can be a powerful account through which investors can build a retirement portfolio. But the post also contained details about who this type of account might work best for.
For example, a Self-Directed Solo 401(k) carries very high contribution limits. For retirement investors with a lot of disposable income to put away for retirement, this is a significant advantage. It means that investors can leverage these tax protections to put aside money for retirement. This money then grows within the account, only being taxed upon distribution of the account.
And why Self-Directing? The post points out that a Self-Directed Solo 401(k) is a powerful way to invest because it allows investors to expand beyond the typical investments. For instance, a 401(k) through an employer may come through a plan that has limited options for investments. But using a Self-Directed strategy makes it simple for investors to put money into real estate, precious metals, private companies, and more. The result can be a more diversified portfolio that goes beyond the typical retirement investments of stocks and bonds.
"The Self-Directed Solo 401(k) is a unique account," said Jim Hitt. "But what many people like about it is that they're familiar with a 401(k). So, they get it. They know the power this type of account can have in retirement. But for some people, going solo is the only option. And for them, considering self-direction is something that they should take on as they plan for their retirement."
For more information about how the Self-Directed Solo 401(k) works, American IRA hosts a page on its website, www.AmericanIRA.com. Interested parties may also contact the Self-Directed IRA administration firm by dialing 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