Participation in an Individual k or Solo 401k while being employed to another company is not impossible as long as certain rules and solo 401 k eligibility requirements are met.
Los Angeles, CA (PRWEB) March 16, 2014
Sense Financial reveals how delaying retirement decision of the aging population could be minimized by using Individual k or Solo 401k on their retirement planning. This is in line with the recent survey released by CareerBuilder on Feb 27, 2014 where it shows that 79% can’t afford to retire financially thus opting to postpone retirement. There are also other factors stated in the report as to why people delay their retirement. 49% from the respondents choose to postpone retirement because they still enjoy their job, 46% enjoy their work environment and 27% answered that they are afraid that retirement may be boring for them. The full survey result can be viewed at their website.
Sense Financial shares that participation in an Individual k or Solo 401k while being employed to another company is not impossible as long as certain rules and solo 401 k eligibility requirements are met. Another conclusion to address the growing number of people delaying retirement is to develop a good retirement planning strategy and this would also answer the concerns of those who fear that retirement may become boring.
Aside from the surveys that show decent percentage of employers who consider hiring mature workers for their job openings in which most are overqualified, the solo 401k advantages are something that retirement plan account holders must take into consideration particularly the wide investment options, checkbook control feature and the Solo 401k loan .
A New York Times article on retiring written by Kerry Hannon says, "Employers and clients are progressively accepting professional certifications as proof of proficiency." Hannon also shares some of the promising and in demand careers for the aging population, and these include home modification business, financial planning, and travel guide. Sense Financial sees that people can still work easy during the retirement age and earn additional income on top of the distribution they receive from their qualified retirement plan. This can be continued until they plan to retire completely.
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.