The Self-Directed 401k FAQs
Friday, February 01
Having been in the retirement account industry for 15 years, I have come across a variety of questions surrounding which I have discussed below. Participant LoansQUESTION: Can my husband and I both borrow from our solo 401k plan?ANSWER: Each participant can borrow from the solo 401k provided eac...
IRA and Solo 401k Non-Recourse Lenders
Friday, February 02
A non-recourse loan may be obtained from a bank or hard-money lender.The following banks specialize in loaning funds to IRA ans solo 401k plans.http://www.iralending.com/http://www.myiralender.com/www.fnba.comwww.efirstbank.comwww.paccrest.comwww.psrs.comwww.TheHardMoneyPros.com
Solo 401k Eligibility/Qualifying For a Solo 401k Plan
Sunday, January 28
The solo 401(k) has been available since the inception of the 401(k); however, it became popular with the passage of the Economic Growth and Tax Reconciliation Act (EGTRRA) of 2001. Here is the what the following IRS page says:https://www.irs.gov/retirement-plans/one-participant-401k-plansA solo...
What is an IRA LLC/Checkbook IRA?
Friday, January 26
A key feature of the IRA LLC is the checkbook control feature. This allows you as the manager of the IRA LLC to direct investments by simply writing a check or by requesting a bank wire.The self-directed IRA becomes the member in the newly formed LLC by purchasing units of the LLC. The IRA L...
Solo 401k Investment via tenancy in common with personal mortgage
Tuesday, November 21
QUESTION:Looking to buy a property with my solo 401K but don't have enough money, will I have to get a loan in my name. Can I be a co-owner with?I will have 50% down paid from solo 401k trust and then 50% as mortgage under my name. ownership will be split 50/50.ANSWER:While you can certainly purc...
Mega Back Door Roth 401k Guru
Friday, November 03
Dear Mega Back Door Roth guru,I am in the considering opening a Solo 401k and Roth 401K for my small business. My company is set up as an S-Corp and I am the only owner. I just read your article on the Mega Back Door Roth, and I have a couple of questions.First let me set the stage,I am 46 years ...