When to Use a Solo 401(k) vs. a Self-Directed IRA

Updated : Sep 12, 2019 in Articles

When to Use a Solo 401(k) vs. a Self-Directed IRA

hi welcome to self-directed retirement
plan video tips today we’ll be talking about when to use
a self-directed solo 401k instead at an IRA a
self-directed solo 401k isn’t excellent tool for those who are
self-employed and have no other full-time employees
in their business other than themselves and their spouse a self directed 401K has some advantages over
an IRA such as you can contribute more the
account per year a self directed 401k you can contribute up
to fifty two thousand dollars per year into the account with the solo
self-directed 401 K you can invest your account into real
estate LLC’s precious metals another alternative assets similar to a
self-directed IRA but you can serve as the plan trustee an
administrator of a solo 401K if have a
self-directed IRA as you may know you must have a
third-party custodian involved also with the self-directed solo 401 K
there’s no UDFI tax if you leverage the account to buy real estate can be you UDFI tax when you leverage an
account with self-directed IRA to buy real-estate when using a
self-directed solo 401k you will have a bank account in the solo
401k’s name where you’ll be a signer will be able to direct investment and
you determine now keep in mind a solo 401k is only available for those
persons who are self-employed or for those who are starting a new
business if you’re not self-employed or starting a new business you should simply consider a
self-directed IRA thanks for tuning in check out the links below to learn more
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