Los Angeles, CA (PRWEB) May 01, 2014
As retirement approaches for older Americans, the realization that their financial capacity may fall short come retirement age pushes them to retire 2 years later or more than the ideal age for retirement. Sense Financial, expert in retirement planning, provides self-employed individuals with their qualified plans and services to make sure that participants will have enough or more than enough upon retirement.
The new survey from Gallup reveals that the average age for most aging Americans to retire is at 62. This survey was released during one of their annual Economy and Personal Finance survey held last April 3 to 6 this year. After more than 20 years, this has been the first time the average age of retirement reached that high next to last year’s 61. For younger Americans, they see themselves retiring at age 66 which is the same as last year’s poll.
This newest release proves to show that more Americans, whether self-employed or not, are delaying, if not, postponing their retirement to several years than the original age they are most likely to retire. Several factors lead to this result but the most prominent of them all is their financial incapacity to support their retirement lifestyle. Sense Financial recommends to self-employed individuals to set up qualified plans such as the Solo 401k or the self directed IRA.
Both qualified retirement plans allow participants to allot their funds to several investment vehicles that are completely different from the risky stock market. The money could be invested in start-up and private businesses, loans, tax liens and tax deeds, and to top investment choices like the rising real estate market and gold. Another feature that participants could take advantage of is the checkbook control feature. This allows individuals to completely takeover any transactions from their account even without the custodian’s consent. Monitoring and updating the retirement account is less complicated and being aware how the investment choices work provides participants with safer income as they decide to retire at the exact age of retirement or later.
Between the two qualified plans offered by Sense Financial, the Solo 401k works best for individuals who wish to tax diversify their retirement funds as this plan has a built-in Roth sub account. After tax contributions can be made anytime and the limit is shared with the regular contributions. This could give the participant more flexibility in terms of qualified distributions in the future.
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.