Learn about the advantage of savings for retirement using a Solo 401K
Concord, CA -- (SBWIRE) -- 02/25/2013 -- Many Americans have lost their jobs during the recent economic times, and have thus started their own business. In looking for a way to continue saving for retirement as well as gaining access to retirement funds to cover ongoing business or personal living expenses without paying taxes or going through a credit check, a solo 401k with a participant loan option from MySolo401K.NET can accomplish these needs.
MySolo401K.NET at http://www.mysolo401k.net , explains the advantages of saving for retirement using a solo 401k and explains the solo 401k loan process.
Individuals that are self employed, or small business owners, who have no other full time employees other than their spouses are eligible to setup a solo 401k plan. By doing this, they can roll their existing 401k from a previous employer into the plan. Once this solo 401k is funded, the IRS allows for an individual to borrow up to $50,000 or 50%, whichever is less. Individuals have flexible pay-back terms. The funds remain earmarked for retirement as long as the individual is able to continue making loan payments.
In order to learn more about the Solo 401k retirement plan, visit http://www.mysolo401k.net
MySolo401k.net is a retirement services company that provides small businesses with affordable, quality Solo 401k plans and the choice to invest in alternative investments such as real estate, private companies, businesses, private notes as well as traditional investments—stocks and mutual funds. As a Solo 401k provider, educator, and directed administrator we don’t have conflicts of interest as we don’t offer investments or investment advice.
Founded by a Harvard Law trained attorney and Self-Directed IRA/401K Compliance Officer having over 16 years of experience administering retirement plans and alternative investments, MySolo401k.net is well equipped to assist everyone with their self-directed retirement account needs.
MySolo401k.net does not endorse any particular advisory firms or investment opportunities. Potential clients are advised to perform their own due diligence in choosing an attorney, tax advisor or any investment opportunity.
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