Ever heard of a self-directed 401K? It might be what you need. It’s not very common for employers to offer a self-directed 401K, more than likely you’ve been contributing to an employer-sponsored 401K. While there are similarities, they’re both retirement savings vehicles, and they follow the same rules, but the fundamental difference is that there’s […]
Category: Self-Directed 401K
Start Rolling Over Your 401K to an IRA
When it comes to a 401K, you can take it with you from job to job, and in fact, you should, and it should be in the form of a 401K rollover. But making the most of the money you’ve built up means performing the rollover correctly. Here’s the four-step process for how to rollover […]
Self-Directed 401K Plans Broken Down and Explained
A self-directed 401K lets you invest as you see fit. You can choose your own mutual funds, stocks and bonds rather than sticking to the pre-made funds typically associated with a retirement savings account. You can even invest in more unconventional assets like real estate and commodities if your employer allows it. The types of […]
Self-Directed IRA Rollover Terminology Broken Down
Rollovers are the most common way to transfer funds within retirement accounts. Transfers and rollovers are transactions that allows for the movement of assets between IRAs and 401K plans. Let’s go over the basic terminology. Direct Rollover A Direct Rollover is generally used when moving funds from an employer plan (like a former employer 401K) […]
How Everyone Can Save for Retirement When a 401K isn’t Offered at Work
Are you one of the millions of workers without a retirement plan at work? Or perhaps you’re self-employed and don’t have an employer at all? In either case, it’s imperative that you take your retirement savings and investments into your own hands. Employer retirement accounts are great, but many businesses don’t take on the added […]
The CARES Act Allows Savers to Cash Out Their 401K, But Should They?
Typically, the penalty for withdrawing from a 401K before the age of 59½ is 10% of the distribution, plus an automatic withholding of at least 20% for taxes. But with the passage of the CARES Act, that all changes for 2020. The $300 billion earmarked for direct payments is getting considerable attention, but the CARES […]
The IRS Has Released IRA Contributions Limits for 2020
Each year, the IRS announces IRA contributions and their limits, Traditional IRA deduction income limits, and Roth IRA contribution income limits. Not only is there a maximum amount that Americans can contribute to their IRAs each year, but not everyone is eligible for both types of IRAs. Click here for the self-directed IRA contribution limits […]
Investing Your Retirement In Your Startup
Are you looking to start your own business and are wondering where to get the capital? I bet you never thought it was possible to invest your retirement into your own startup. This is very possible and it is done through what we call a mysop. This is done with a self directed 401k and […]
What Is Your 401k Invested In?
Do you have a 401k? If so, do you know what it is invested in? The standard investments inside of a 401k are stocks and bonds. Most likely you are invested in variation of stocks and bonds. Regardless of what you are invested in you should know what those investments are because you may come […]
401k Benefits are Getting Worse
The word on the street from Bloomberg is that employers are holding back on the amount and the timing of 401k matching funds and they are also dragging out vesting schedules. The article states that this isn’t just happening due to small companies making the change. We are talking about some of the biggest companies […]
Make the Right Choice With A Self Directed 401k
Does your company offer a 401k account? If they do be grateful because you are with a company that isn't following the trend.Less and less companies are offering 401k benefits. Make sure you take advantage of your companies 401k as it is one of the smartest things you can do for your retirement. If you […]
Fund your Business with a Self Directed 401k
Have you ever wanted to start your own business but don’t have the funds available to start the business? Maybe you have been laid off and have funds sitting around in your 401k. Now could be the perfect time to start that business you always wanted to start. Why not use the funds in your […]