World Wealth Report shows business ownership is the leading cause of wealth

August 5, 2010 By Leave a Comment

Suggested reading: World Wealth Report

This annual report examines the behavior of high net worth individuals (HNWIs) – those with over $1 million in investable assets. I believe this report is skewed a bit because it is based on survey data of Merrill Lynch clients around the world. Even so, it offers interesting information.

Among the most substantial findings is that business ownership is estimated to be the leading source of wealth among HNWIs globally. This is contained in the 2006 WWR.

Click here to view WWR archives.

Filed Under: Blog, Setting up a Solo 401k Tagged With: business ownership, getting rich, investing, merrill lynch, real estate, self employment, wealth, world wealth report

Weak economy strengthens the incentive for a Solo 401k

February 10, 2009 By 1 Comment

This is quite a simple concept so this post will be very brief.

  • Our weak economy has brought very high inflation: as high as 13% over the past year.
  • Future dollars are worth much less than dollars today.
  • With a Solo 401k you can make tax-deductible contributions to your retirement plan in today’s dollars and pay taxes later in less valuable dollars.
  • Successful entrepreneurs and self employed individuals can contribute $49,000 per year or more to their Solo 401k in 2009.

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Filed Under: Blog, Solo 401k Investment Options & Ideas Tagged With: 401k, dollar, economy, inflation, invest, investing, ira, meltdown, profit, real estate, self directed, solo, solo 401k, wealth

3 Reasons why today is the best time in human history for immense personal wealth and freedom

January 21, 2009 By Leave a Comment

While there are many people finding themselves more fearful than ever, there are others who are more excited than ever. Here’s why…

  1. The rules of safety and courage have changed. Since the industrial revolution, employee-ism has surged. During this time, getting a job to work for somebody else was the safe thing to do. On the other side of the coin the risky, courageous act of working for oneself is what brings riches. As a result, each person has been faced with a choice to pursue either safety or riches. Part of what made employee-ism the safe bet for an individual is the stability of companies as well as what has become the largest store of non-real estate wealth in our country: holdings in the stock market. This year we have seen the rules of the game permanently changed. Our financial system is crashing, and trustworthiness has evaporated from corporate America and the financial services industry. Now working for yourself is no longer the courageous thing to do; it’s the safe thing to do.
  2. Technology has brought immense power to everybody. Personal computers and the internet are now available to just about everyone. This has made some very expensive things become cheap or free. This has made it possible to do things that were previously impossible. There is no longer a need for every transaction to take place in a physical location. Needs and desires are able to be fulfilled online. In many circumstances, the large corporation cannot compete with the one-man shop. Today a person can start and run several businesses for little or no money. Taking something and creating or increasing its value has never been more accessible.
  3. Arbitrage has never been [Read more...]
Filed Under: Blog, Solo 401k Investment Options & Ideas Tagged With: 401k, boom, bubble, business owner, bust, doom, economy, entrepreneur, entrepreneurship, family, fraud, freedom, future, gloom, government, independence, invest, investing, investment, ira, meltdown, opportunity, riches, self directed, self employed, self employment, small business, solo, solo 401k, technology, wealth, world

I am thankful for…

November 27, 2008 By Leave a Comment

thanksgiving_prayer

…our current circumstances. Rather than ignore the current economic problems, I choose to acknowledge this elephant in the living room during our Thanksgiving holiday.

We are bombarded with headlines like “What will fix our economic problems?” It is absolutely silly. The recession is the solution to the problem of the asinine acts of American government, corporations, and consumers. There is no galactic lottery that our country can win. We have to play by the rules of the game that we started. No person or government can perpetually spend more money than they earn. Such behavior can only be temporary and always leads to self inflicted unpleasantness.

I truly am thankful for our recession because it should help cleanse our government and society of self destructive behavior. We are now forced to [Read more...]

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Arkansas Couple Realizes the Benefit of Managing their Own Retirement Accounts

November 26, 2008 By 4 Comments

Stoddards

The stock market implosion of 2008 has millions of Americans feeling financially helpless.  Yet individuals who are investing their 401k & IRA money in ventures outside the stock market are singing a different tune. Janice and Jack Stoddard, real estate professionals in Arkansas, heard about self directed investing from a seminar that taught how to invest IRA money into real estate.

Energized by the idea, the Stoddards established two IRAs, rolling over money from their traditional IRAs to fund them.  They used the IRAs to make small real estate transactions, purchasing and reselling property at a profit with all proceeds staying in the IRA.

In 2006, an opportunity to buy and then immediately re-sell 60 acres of undeveloped land at a profit came up.  Concerns over structuring the deal and keeping everything above board led the Stoddards to consult with us at Nabers Group.

“Jeff helped us establish a Solo 401k that could be used to handle the 60 acre transaction. The Solo 401k was a key component to our funding because we were able to contribute 10 times more to it than we could to an IRA.  Meanwhile, our son, who works in oil and gas, alerted us to keeping our eyes open for property with mineral rights for future transactions,” Janice says.

With the proceeds from the 60 acre sale, the Stoddards began [Read more...]

Filed Under: Blog, Solo 401k Investment Options & Ideas, Success Stories Tagged With: 401k, arkansas, invest, investing, investment, ira, ira llc, mineral rights, profit, real estate, self directed, solo, solo 401k, wealth

Announcing the new Solo401k.com!

November 26, 2008 By Leave a Comment

Escape to financial freedom

We’ve just relaunched solo401k.com on this blogging platform to allow for regular information updates and easy navigation.  Use the categories at the bottom of the page to learn more about the world’s most powerful investment vehicle – the Solo 401k!

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Filed Under: Blog, Uncategorized/Misc Tagged With: 401k, alternative investments, gold, hedge, inflation, invest, investing, investment, ira, ira llc, private companies, real estate, self directed, solo, solo 401k, wealth