The key is that material services are performed, whether under an LLC, sole proprietorship or corporation, for example. https://www.irs.gov/businesses/small-businesses-se...Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions; andBoth are prohibited from investing in assets listed under I.R.C. 408(m).The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (Checkbook IRA) must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2017, the solo 401k contribution limit is $54,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

So as much as our big family want to support her, we don't want to waste our precious votes on her if she doesn't have a chance.

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andThe Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company  (IRA LLC) must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2015; the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

Of course we all know how volatile the stock market is and should realize by now that would "should" happen isn't always what "does" happen.Some would say go with precious metals but I have no clue how you really value a pretty rock.

Life is so precious-please remember that you are all blessed, even/especially during this trying time.

And a huge thank you to all of the speakers who took precious time out of their undoubtedly busy life to share some wisdom with all of the attendees!

Fleck personally guarantee a business loan owned by their self-directed IRATammy personally guarantees a bank loan to her Self-Directed IRA Bill uses his personal assets as security for an Self-Directed IRA investment Allan uses Self-Directed IRA funds to lend an entity owned and controlled by his father $25,000 Terry acquires a credit card for his Self-Directed IRA LLCbank account 4975(c)(1)(C): The direct or indirect furnishing of goods, services, or facilities between an IRA and a “disqualified person” Dan purchases real estate with his Self-Directed IRA funds and personally makes repairs on the property Larry purchases a condo with his Self-Directed IRA funds and paints the walls without receiving a fee Kris buys a piece of property with his Self-Directed IRA funds and hires his son to work on the property Karen buys a home with her Self-Directed IRA funds and her son makes repairs for free Lisa owns an office building with her Self-Directed IRA and hires her son to manage the property for a fee Shari owns an apartment building with her Self-Directed IRA funds and has her father manage the property for free Joe receives compensation from his Self-Directed IRA for investment advice Troy acts as the real estate agent for his Self Directed IRA 4975(c)(1)(D): The direct or indirect transfer to a “disqualified person” of income or assets of an IRA Steve uses a house owned by his Self Directed IRA for personal uses Tim deposits Self-Directed IRA funds in to his personal bank account Pat is in a financial jam and takes $12,000 from his Self-Directed IRA to pay a personal debt Mark buys precious metals using his Self-Directed IRA funds and uses them for personal gain Jack purchases a vacation home with his Self-Directed Self Directed IRA funds and stays in the home on occasion Amy buys a cottage on the lake using her Self Directed IRA and rents it out to her daughter and son-in-law Sylvia purchases a condo on the beach with her Self Directed IRA funds and lets her son use it for free Richard uses his Self-Directed IRA to purchase a rental property and hires his friend to manage the property.

Happy Thanksgiving, first of all - hope you took it to heart!Now, many of you are here because you are looking for a better (or any) way to retire. Good! But, please try to not forget that all of this is just a game, ...

Time is our most precious commodity, and most (well over 50%) of the people we talk to are a waste of it. 

Thanks Account Closed, between paying off debt and trying to save for a venture into RE, it would likely be quite some time before I'd be in a position to allocate anything toward precious metals.