The retirement plan for entrepreneurs
We have spoken in many venues about the benefits of the Solo 401(k) plan. No matter how often we talk about it, entrepreneurs are consistently surprised that this is an option for them. It seems nobody else out there is preaching the virtues of the Solo 401(k)! Why? Because no institutions make money when you control your own retirement, so they don't advertise it to you.
If you have business activity intended to make a profit, and have no employees, then you qualify for a Solo 401(k). It's that simple. My wife and I opened ours when she first became a real estate agent with the intent of using it as a vehicle into which we could roll our employer based retirement money. We then used the plan to start buying rental real estate for cash.
Since then, our businesses are both producing profits, and we can shelter up to $112,000 per year into the plan.
For a series of video vignettes that explain the ins and outs, please use this link.
When you're ready to get started, click here!