Self-Directed Solo 401k with Checkbook Control for Real Estate Professionals Debuts with Sense Financial
Miami, FL (PRWEB) June 19, 2013 (PRWEB) July 16, 2013 -- The launch of Self-Directed Solo 401k Checkbook Control Solution is announced by Sense Financial. According to the organization,this is the ideal and most essential retirement plan especially for professionals who are working in the real estate industry. The plan, further explained by Sense Financial, is designed and formulated for real estate professionals who are self-employed. This is essential for those self-employed real estate agents, brokers and salespersons aiming to maximize and boost their retirement funds and savings.
Based on the popularity rating of the Solo 401k retirement plan, there is a massive increase in the rate of peopleaccessing this plan basically because of the modifications done with the EGTRRA Tax Law which took place in 2002. The modification in the legislation made significant changes especially in the contributory salary deferral. There is basically a different approach when it comes to the calculation of the maximum deductible limits for the contribution to the retirement plan Solo 401k. The modification and changes made it a more beneficial term for self-employed real estate professionals who do not have employees working for them. It allows them to put away and add more amount to their retirement plan.
The other term used for Solo 401k is Self-Directed or Individual 401k plan. This type of plan is essential if you want to use your retirement funds in any investment type where they venture their investment transactions on their own. The Solo 401k plan has various different specifications including having no penalty or tax or any consent from a custodian. According to the tax attorney of Sense Financial, Adam Bergman, with the Solo 401k plan, all investors are given investment, retirement and tax privileges. He further state, “the Solo 401k plan of Sense Financial is very popular and unique and it is plainly designed for professionals in the real estate industry who are considered self-employed.”
Sense Financial introduces the features of the Solo 401k plan including its high contribution limits amounting to an annual amount of $51,000 and additional $5,500 for plan holders aged 50 and above. This additional contribution is referred to as the catch up contribution. The plan allows participants to borrow 50% of their account value for any purposes such as credit card payment.
About Sense Financial Services:
Sense Financial is California's leading provider of retirement accounts with “Checkbook Control”: the Solo 401k and the Checkbook IRA. Over the years, they have assisted hundreds of clients obtain checkbook control over their retirement accounts while providing them with the ability to invest in virtually any investment class, including real estate, private lending, mortgage notes and much more without the need for custodian approval.
To learn more about the solutions they provide, please contact: (949) 228-9393.
Dmitriy Fomichenko, Sense Financial Services, (949) 228-9393, [email protected]
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