A solo, or self-directed, 401(k) is an individual retirement account that allows the self-employed business owner to maintain complete control over selecting and directing his or her retirement account.
Self-directed 401(k)s give self-employed individuals access to assets not typically available in traditional IRAs, including real estate, promissory notes, limited partnerships, precious metals, and other alternative investments. High contribution limits are one of many features that make solo 401(k) plans so appealing.
Is a Self-Directed 401(k) Right For Me?
A self-directed 401(k) is designed for the self-employed business owner who wants to maintain complete control over directing retirement account savings. A self-directed 401(k) may be right for you if:
- You are looking for the largest potential contribution for a business without full-time employees.
- You want the flexibility to invest in assets other than stocks and mutual funds.
- You want the freedom to borrow from your plan.
- You want to purchase leveraged real estate in your plan, and avoid unrelated business income tax (UBIT).
Benefits of a Self-Directed 401(k)
The self-directed 401(k) is the premium platform for efficiently turbocharging your retirement funds. With Broad Financial’s Ultimate Self-Directed 401(k), you will enjoy the following benefits:
- Invest in your own strengths. With self-direction, you have the power to invest in assets not available in traditional retirement plans, such as real estate, promissory notes, limited partnerships, precious metals, and more.
- Make stress-free investments. Purchase assets within your retirement account by simply writing a check—no paperwork or authorization required.
- Enjoy unrestricted access to your funds. You can take a personal loan of up to $50,000 from your self-directed 401(k) without any restrictions on how the funds are used.
- Get peace of mind about account security. You hold all of your retirement funds in a bank of your choosing, so you never have to worry about who may be accessing your account.
- Stop paying unnecessary fees. With Broad’s Checkbook Control feature, you personally perform the transactions in your retirement account, eliminating costly custodian fees.
Broad Financial’s Ultimate Self-Directed 401(k) provides self-employed investors with the confidence for retirement that they lack with an employer’s 401(k). The account setup process is easy, and Broad’s friendly service backs you up with industry-leading customer support.
Call 800-395-5200 today to find out how you can start growing your own wealth now.
Take Control of Your Retirement Account with a Self-Directed 401(k)
“After reviewing 3-4 other companies with similar products, we found Broad Financial to be the best informed about the Solo 401(k) vehicle. They were thorough, professional, and actually the lowest price option we found.” – David Palmer, Brooklyn, New York
“Broad Financial made setting up my Solo 401(k) so easy. They handled all the details. I had a ton of questions and they were very quick to respond with answers. They even talked to my bank when setting up my checkbook account. I would recommend them to anyone interested of taking control of their retirement account." – Rob Sturm, Johns Island, SC
Read more testimonials from Broad Financial clients.