At the end of the day, there are a seemingly endless number of arguments in favor of maxing out your legally sanctioned retirement accounts. However, few are more powerful than the legal protection that these accounts provide to your hard-earned money.
Charlotte, NC (PRWEB) September 15, 2015
The USA Today article dated September 14, 2015 titled "The smartest reason to max out your 401(k) and IRA contributions" hits on some very important points in relation to protecting assets. Jim Hitt says "This is an important topic that also applies to Self-Directed IRA account holders who have Self-Directed 401K s and Self-Directed Solo 401Ks."
The article says "regardless of how much you have contributed to your 401(k), the amounts therein are yours and yours alone. Even if you're found liable for a multi-million dollar legal claim, the opposing party can't touch your 401(k) -- except, that is, when the creditor is either a former spouse or the IRS." Jim Hitt agrees with this statement completely and has published many articles on this topic encouraging individuals to protect their assets. A point that many people miss is that if they hold these funds in a Self-Directed 401K or a Self-Directed Solo 401K, they can also hold non-traditional assets within those accounts such as real estate, precious metals, private lending, tax liens, tax sales, and more.
Another point the article makes that Jim Hitt couldn't agree more with is "At the end of the day, there are a seemingly endless number of arguments in favor of maxing out your legally sanctioned retirement accounts. However, few are more powerful than the legal protection that these accounts provide to your hard-earned money and assets."
Jim Hitt closes in saying "This is a timely article that is 100% on-point. Everyone should take notice of the tax advantages and legal protection that these accounts afford."
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