Not All Individual 401k Plan Providers Offer the Same, Sense Financial Discuss How to Choose a Retirement Planning Partner

Most plan providers have their own field of expertise in terms of investments and choosing the right partner to help grow an individual’s retirement money is crucial. Also, not all providers will be honest enough to disclose or offer the important benefits of the Solo 401k or individual 401k plan.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend
...some individual 401k plan providers are not willing to discuss the full benefits enclosed with the Solo 401k, furthermore, they are not offering important features such as the loan access and checkbook control

Los Angeles, CA (PRWEB) April 16, 2014

Many individuals these days are asking about the individual 401k plan also called the Solo 401k, how it works, the benefits they can get, and how to set up one. There are different 401 k plan providers that offer this kind of retirement plan, with each of them having its own expertise particularly on the retirement plan’s investment options. The Solo 401k plan is similar to the traditional 401k plan but is intended for small business owners without any employees other than the owner and their spouse. It has similar rules and requirements and tax benefits as a regular 401k. The Solo 401k has two types—the self-directed and the brokerage based. Each type has different investment options and policies.

Not all individual 401k plan providers offer these two types. Normally, plan providers offer the Solo 401k based on their specialty—self-directed plans are offered by providers that are real estate experts while brokerage based plans are offered by providers that are Wall Street professionals. In this sense, an individual who plans to avail this kind of retirement plan must be aware that not all plan providers are the same.

When choosing the right financial planning provider, an individual must take into account the provider’s field of expertise. This is invaluable in growing an individual’s retirement funds. If investing in stocks and mutual funds is the goal of an individual, there are several brokerage based plan providers that can help them achieve this goal as well as those who are interested to invest in annuities. For those who wish to put their funds in non-traditional investments such as real estate, precious metals, start up and private businesses, tax liens and tax deeds, and other investment options not related to stock market, a self directed 401k plan provider would be the perfect partner.

Choosing the right partner when it comes to the self-directed 401 k plans for small business owners could be quite complex. This is because some individual 401k plan providers are not willing to discuss the full benefits enclosed with the Solo 401k, furthermore, they are not offering important features such as the loan access and checkbook control, and won’t even allow to make Roth contributions. These providers are not giving the full benefits approved by the IRS for the Solo 401k participants and this kind of providers must be avoided.

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 information about Solo 401(k) for self-employed real estate agents, please visit http://www.sensefinancial.com