There are different self employed retirement plans today but only a few such as the Solo 401k retirement account by Sense Financial could offer lucrative ways to maximize your retirement savings. Self directed retirement accounts are known for their no tax restriction features especially on tax-free income and withdrawal. Moreover, plan owners could enjoy other perks such as the highest max 401k contribution for larger retirement savings, even 10 times bigger than traditional Roth IRA retirement plans.
Why are they called Self Employed Retirement Plans?
The Individual 401 k retirement account is also referred to as the self employed or self-directed Solo 401k. The reason is that one of the main eligibility requirements to make you qualify to set up and establish an account is if you can prove your self-employment activities. For instance, you can still be a fulltime employee of a particular company but you must also have self-employment jobs or activities on the side. You may be working as a consultant or independent contractor for you to be eligible to set up one of the self employed retirement plans.
What includes the Solo 401k Establishment Service?
If you set up and establish the Individual 401k retirement account with trusted providers such as Sense Financial, you can enjoy the most comprehensive services for your financial preparation. Here are some of the services inclusive in a Solo 401k Establishment:
Benefits of the Self-Directed 401k
As one of the most lucrative self employed retirement plans, the Solo 401 k account offers remarkable upsides and perks for the plan owner including:
The Solo 401k is undoubtedly the most lucrative self employed retirement plans with overflowing benefits for plan owners. It is the best way to prepare for your future through a dynamic retirement account.