@Kathleen AmundsenVisit the following link to learn more about disqualified persons with respect to solo 401k plans and IRAs. http://www.irs.gov/Retirement-Plans/Retirement-Pla...Also solo 401k plans are for the self-employed.

Then he sells everything(or atleast the fully depreciated ones) and buys more or build new.On a different note, I have been self employed since 2009.

@Sheba ShimojiIf you are self-employed, also take a look at the self-directed solo 401k as it is generally more advantageous.

I'm self employed now, and until my agency takes off, I'm bouncing between Audio Visual contract work (my previous profession) and contract investor marketing assistance work.  

Is there a different strategy I can employ?

It's likely that many of the strategy all of us employ will differ.  

It is fairly small, only about 100,000 people and the University is the main source of direct/indirect employment.

I plan to employ a buy and hold strategy.

Ex employer of mine took a self store facility that was in bank foreclosure, bought it, gutted the offices and built offices that he rented out to sub contractors and remod companies. he then put an outlet of his company . a flooring wholesaler in the location as a second store and voila built in business.

My wife and I are self employed, hard workers and loyal to our customers.