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Guest Blog: Solo 401k Solution: How to Insure Your Retirement

This blog was originally published by Sense Financial Services LLC.

Written by
Dmitriy Fomichenko

Founder and President 

Dmitriy is the founder and president of Sense Financial Services LLC, boutique financial firm specializing in self-directed retirement accounts with checkbook control. He owns multiple investment properties in various states and is a licensed California Real Estate Broker. Over the years, he has instructed hundreds of investment and financial planning seminars and has mentored thousands of investors.

Solo 401k Solution: How to Insure Your Retirement

Financial security is one of the ultimate goals that we work hard to achieve. A good insurance plan is what it takes to protect the people and the things that truly matter in our lives. What most people often overlook, however, is their retirement prospect, when financial security becomes even more crucial. Many are experiencing difficulty in finding ways to save enough money for retirement. With low returns from investing in stocks and after the current economic crisis, a financially secure retirement is becoming a difficult goal to achieve.

Solo 401k Plan: A solution to Financial Problems at Retirement

Fortunately, there is an answer to that problem.  With the Solo 401k solution from Sense Financial Services, the retirement financial problem is a thing of the past. Self-employed individuals and business owners who do not have any full time employees can benefit from the powerful features of this retirement plan.

The Individual k or Solo 401k plan from Sense Financial is a versatile and a tax-efficient retirement solution which opens up a brand new world of financial investment opportunities with limitless possibilities. The plan enables participants to invest in private businesses, real estate, mortgage notes, tax liens, tax deeds, precious metals and other investment opportunities, without the need of any third party custodian consent. Best of all, the investments are on a tax-deferred or tax-free basis.

In addition to the freedom of investing your own retirement funds, the Solo 401k solution allows you to borrow up to $50,000 from your retirement account for any purpose.  The Solo 401k loan feature gives you access to funds for emergencies and other personal needs.

Other Solo 401k Solution benefits include:

  • Tax-free profits
  • Up to $57,500 of tax contribution deductions in 2014
  • Asset protection
  • Estate planning

In 2014, Solo 401k plan participants are allowed a maximum contribution limit of $57,500, which is about 10 times higher than a traditional IRA account. With this generous limit, account holders can now shelter a bigger part of their yearly income into the tax efficient account. The loan option and ability to invest without custodian consent also let the account holder take full control of their retirement future.

Again, financial security is crucial to ensure a healthy retirement. Just like how a reputable insurance plan insures your loved ones, your homes and vehicles against unfortunate events, having the right retirement plan is the solution to insure your retirement against financial hardship.




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