When investments are self directed, the retirement investor can decide for himself on what type of investment he wants to put his savings in and at this point, he can even apply his own proficiencies.
Los Angeles, CA (PRWEB) May 13, 2014
Fewer Americans are relying on their retirement accounts as a major source of their retirement income compared from the past years before the great recession had its peak in 2009. This is significantly connected to the reported decrease in retirement confidence, the increasing number of people who plan to delay retirement, and how retirement investors choose low earning retirement plans with safe initial investment over high earning but risk-involved retirement plans. Sense Financial, the market's leading Checkbook IRA and Solo 401k facilitator, provides the best individual 401k plans as retirement vehicle that the self employed could rely on.
On the 2nd of May this year, Gallup conducted their newest poll which revealed that only 48% of retirement investors are going to rely on their 401k and other retirement accounts they have. This was down by 6% from the year before the recession began, but significantly higher by 6% from the reported percentage of 42% during the height of recession. Though the percentage is moving upward, still, the increase pattern is comparatively slow.
Individual 401 k plans designed for the self employed as well as employed individuals who are performing a small business aside from being under employment could answer the implications involving the non-reliance of more Americans on their retirement savings. Investments are the vehicle that determines the growth of a retirement account. The risk of losing even an individual’s initial investment is one of the primary reasons why people lose their faith in investing for retirement, most especially in stocks and mutual funds.
With individual k or solo 401k, greater risk could be avoided since investment options of self directed plans are focused on tangible assets, with real estate investment listed as the top choice. When investments are self directed, the retirement investor can decide for himself on what type of investment he wants to put his savings in and at this point, he can even apply his own proficiencies.
The Roth sub account feature of the Solo 401k is another added benefit. Post tax contributions and tax diversification of retirement plan are made easy. This allows an account holder to confidently rely on their retirement money knowing that no tax will be taken from it when they start receiving qualified distributions even if the tax rate in the future increases.
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.