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Today, many Americans rely on the 401(k) plans set up by their employer as a means of saving for their eventual retirement. A 401(k) plan allows you to use your pre-tax dollars to invest in mutual funds, as well stocks, bonds, and Target Date funds. Most likely, a firm contracted by your employer manages your 401(k) plan. Often, the funds in these 401(k) accounts are automatically invested per your employer or managing firm’s direction. However, did you know there was a way to have more control and be more involved with your 401(k) investments? A self-directed 401(k) offers you more control, flexibility, and investment diversity. Before opening one of these specialized types of 401(k) plans, take a look at the pros and cons below.
Royal Legal Solutions has many years of experience with Solo 401(k) plans. As a firm that specializes in accounts that give the owner more options, flexibility, and control–we understand how important your investment choices are for your future finances.
Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
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