Self-Directed Retirement Accounts With Checkbook Control – What?


Now I’m not going to tell you that you can retire wealthy or get rich using a certain retirement account, nor am I going to try to sell you services. I’m just a regular guy who stumbled upon this relatively new type of retirement account for self employed entrepreneurs. To make a very long story short, here’s what I do: I use the cash assets within my Solo 401(k) plan to buy properties and to sell them. I write a check for the deposit which comes out of my Solo 401(k) plan checking account. If I get a bank loan for a property the mortgage is in the name of my Solo 401(k) plan. Properties I buy are titled in the name of my Solo 401(k) plan. When I sell a property, the profit goes into my Solo401(k) plan. I transfer funds in my Solo 401(k) plan checking account t to my Solo401(k) plan savings account. In addition, every penny my Solo 401(k) plan bank accounts earn all profits (and interest) tax free.

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