Enjoy Enhanced Flexibility with an Individual 401(k) Retirement Plan

by | Dec 11, 2017 | Investment

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Are you trying to build up your retirement savings fast? If so, then an individual 401 K retirement plan is a perfect choice. This type of retirement plan gives you the opportunity to put a considerable amount of your earnings into a plan that has a generous contribution formula. You can put money aside at a lower level of income than you can if you chose a SEP IRA. Employees aged 50 years or older can put up $24,000 in their 401 K. As the business owner, you are allowed to contribute up to 25% in compensation with the maximum reaching $53,000 including employee contributions. All contributions are discretionary giving the advantage of saving the maximum during flush years and nothing during tough times.

There Are Many Benefits to Establishing a 401 K Plan

401 K plans are a great retirement and savings option that employers can offer employees. When you use the services of IRA specialists they can assist you in setting up such a plan with ease giving you the benefit of taking advantage of contribution limits. You will receive reliable retirement investment advice that allows you to provide more flexibility for your employees, as well. There are also ROTH options available that will be outlined so you are fully aware of all of your options. Basically, ROTH options include after-tax deferrals with your plan. There is also the option of self-directing funds into investments that are alternative in regards to an individual 401 K plan so you can easily rollover or transfer funds.

Why You Should Consider Opening a Self-Directed Individual 401 K Plan

If you are searching for a way to make the largest potential contribution without employees that are common law, then an individual 401 K Retirement plan is perfect for you. You will also be able to borrow from your plan should you need to before you retire. Perhaps you’re also interested in being able to purchase leveraged real estate within your plan so you can avoid the unrelated debt financing income tax.

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