
28 December 2022 | 3 replies
I'm planning on retiring in about 15 years.

16 December 2019 | 16 replies
Additionally, there appears to me so many retiring owners that the opportunity to roll up the space looks appealing, albeit with risk.

2 January 2023 | 1 reply
I’ll cover a simple but not easy strategy below that you can leverage to reach this goal in 5 years or less.Get Your Financial House in OrderThe fastest way to retiring in 5 years or less is to get control of your current spending and finances.
21 December 2017 | 27 replies
All I want to do is make some sound real estate investments to supplement my income when i retire (early at that).

1 February 2018 | 41 replies
I want to make my first Real Estate Investment before March 19th, 2018 (my birthday)From there I want to accumulate enough real estate investments to supplement my income in order to retire by 2025 (7 years from now), but first things first.
13 February 2018 | 11 replies
Self-employment activity is a requirement to open a solo 401(k) plan.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/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 2018, the solo 401k contribution limit is $55,000, 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 $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)
1 June 2019 | 49 replies
If someone would have only handed me a 10$ copy of rich dad poor dad when I graduated high school ( came out same year 96’) i could have easily been long retired as a millionaire today
9 May 2020 | 28 replies
I was a CPS teacher for six years. 23 years on the jobWas planning on retiring early in two years to invest full time, then covid happened

2 January 2023 | 3 replies
I am a retired tech manager.

29 October 2022 | 8 replies
I am a retired woman investing in buy and hold real estate.