ASHEVILLE, NC / ACCESSWIRE / March 31, 2021 / Many investors are familiar with the 401(k) plan as an employer-sponsored plan from through which employees can make retirement contributions. But as a recent post at American IRA highlights, there is also the Self-Directed Solo 401(k) to consider. This type of account has many of the best features of the 401(k) through an employer, but with some additional benefits that investors should be aware of.
The post itself, hosted at the American IRA website, details how the Solo 401(k) works, including its basic makeup, how contribution limits work. American IRA also refers to this type of account as a "Self-Directed IRA on steroids," when a Self-Directed Solo 401(k) is considered. That is because the Self-Directed Solo 401(k) features high contribution limits, since the self-employed investor can make contributions both as the employer and as the employee.
Later on, the post details the specific benefits of investing through a Self-Directed Solo 401(k) plan. The high contribution limits are one immediate benefit, but the post also talks about catch-up contributions, and the ability of investors to borrow from the Solo 401(k) plan. This flexibility makes the Solo 401(k) plan ideal for many self-employed individuals who need to utilize these benefits.
"The Self-Directed Solo 401(k) is a powerful investment tool," said Jim Hitt, CEO of American IRA. "We wanted to create a dedicated post talking about what it does, what the contribution limits have been, and what investors need to know."
Later on, in the post, American IRA includes a recap about the Self-Directed Solo 401(k) and what investors should be thinking about and researching as they consider whether self-direction is the right choice for them.
The Self-Directed Solo 401(k) plan can be administered by a Self-Directed IRA administration firm, while the investor who holds the account makes the investment decisions. For more information about how the Self-Directed Solo 401(k) works, interested parties can seek out the post at www.AmericanIRA.com or call American IRA at 866-7500-IRA.
About:
"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 $500 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."
SOURCE: American IRA, LLC