• Skip to primary navigation
  • Skip to main content
  • Skip to footer
Solo 401k

Solo 401k

by Nabers Group

  • Learn
    • Setup >
      • Solo 401k Setup Process
      • Pricing
      • Services
      • Features
      • Deadlines
      • Compliance Calendar
      • Who is the Trustee and Custodian?
      • Do I Need a Third Party Administrator?
      • Multi-Member LLC and the Solo 401k
      • Is a Solo 401k Protected Against Bankruptcy?
      • Checkbook IRA >
        • What is the IRA LLC?
        • IRA LLC Setup Process
    • Funding >
      • Funding Your Solo 401k
      • What’s the Difference Between a Transfer and a Rollover?
      • Rollover Real Estate from the Self-Directed IRA to the Solo 401k
      • How to Document an Indirect Rollover
      • Rollover Real Estate from the IRA LLC to the Solo 401k
    • Contributions >
      • Solo 401k Contributions
      • Contribution Calculator
      • Sole Proprietorship Contributions
      • LLC and Partnership Contributions
      • Voluntary After-Tax Contributions
      • Corporation Contributions
      • Mega Backdoor Roth
      • Contribution FAQs
    • Qualification >
      • How to Qualify
      • Multi-owner LLC Business and the Solo 401k
    • Reporting >
      • Solo 401k Reporting Requirements
      • IRS Form 1099-R
      • How to File Form 5500-EZ
      • Where to File the 5500-EZ and Other FAQs
    • Roth Solo 401k
    • Prohibited Transactions
    • Calculators and Tools >
      • Contribution Calculator
      • Roth Conversion Calculator
      • Solo 401k Retirement Calculator
      • Home Budget Calculator
      • Roth vs Traditional Contribution Calculator
    • Blog
    • Solo 401k FAQ
  • Invest
    • Cryptocurrency >
      • Cryptocurrency Basics
      • Crypto In Your Solo 401k
      • Grow Crypto Gains Tax Free with Roth 401k
      • FAQ – Bitcoin In the Solo 401k
    • Real Estate >
      • Real Estate and the Solo 401k
      • Real Estate Example
      • Financing
      • Non-Recourse Loans
      • Non-Recourse Lending Resources
    • Promissory and Mortgage Notes
    • Tax Liens & Deeds
    • Gold & Silver
    • Brokerage Accounts
    • Private Placements
  • Borrow
  • Pricing
  • Reviews
    • Reviews
    • About Us
    • Refer a Friend
  • Network
  • Support
    • Knowledge Base
    • Community
    • December Daily Q&A
  • Login
Sign Up

Solo 401k Basics: When Should I Open A Retirement Account?

You are here: Home / Blog / Solo 401k Basics: When Should I Open A Retirement Account?

April 29, 2019 by Editorial Team Leave a Comment

No matter your age, having a retirement account is a vital step to create a stronger financial future. Even if you’re just getting started, opening a retirement account and beginning to save for your future can make a big impact.

In today’s Solo 401k Basics video, we’ll cover when’s the right time to open a retirement account. Essentially, if your business launched and you plan to make money – it’s time!

When To Open a Solo 401k

Solo 401k Benefits

Opening a Solo 401k plan is a great way to start saving for your financial future. Additionally, we’ll cover three benefits of the Solo 401k in today’s basics video:

  1. Lower your taxes through tax-deductible contributions
  2. Capture compound interest  for more aggressive wealth growth
  3. Invest with freedom

Lower Your Taxes

With a self-directed Solo 401k plan, you can contribute up to $56,000 per year tax deductible. If you are age 50 or older, you can contribute up to $62,000 per year. That can make a huge impact lowering your taxable income and aggressively growing your wealth.

Capture Compound Interest

Albert Einstein stated that compound interest is the eighth wonder of the world. That’s because it’s an aggressive way to grow your wealth. If you identify a solid investment with a consistent return, and you let the money ride, you’ll be amazed how quickly your nest egg can grow!

Invest With Freedom

The self-directed Solo 401k plan by Nabers Group allows you to invest in what you want, when you want. Interested in real estate? Excellent! Crazy for crypto? Go for it. Tax liens, mortgage notes, promissory notes, venture capital investing, private placements and more are favorite investments for Solo401k.com accountholders.

Have Questions?

Reach out to us! Every team member at Solo401k.com is a small business owner and we all have our own Solo 401k plan. We’re happy to answer your questions and discuss timing on when opening a retirement account might be right for you. It’s important to know your options, complete your research and due diligence, and move forward with a plan. We’re here to help.

Category iconBlog,  Entrepreneurship,  Solo 401k,  Solo 401k Investing,  Solo 401k Qualification,  Solo 401k Setup Tag iconblog,  Entrepreneurship,  Solo 401k,  Solo 401k Investing,  Solo 401k Qualification,  Solo 401k Setup

5 Ways To Buy Bitcoin

Learn about 5 ways to buy Bitcoin and the pros and cons of each.

(Including how to put BTC in your IRA or 401k)

Learn More

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ready to take control of your financial future?

Start where you are. Use what you have. Invest in what you want.

Get Started

Footer

Solo 401k by Nabers Group

Solo 401K experts at Nabers Group will help you get your retirement funds into your control, where they belong.

600 17th Street
Suite 2800
Denver, CO 80202

Phone: 877-SOLO-401 [877-765-6401]
Fax: 775-201-1456
Email: [email protected]

Business Hours:
Monday-Saturday 8 am-6 pm MT
Sunday by appointment

Nabers Group BBB Business Review

Sitemap

  • Home
  • Pricing
  • About Us
  • Reviews
  • Blog
  • Solo 401k Client Login
  • Contact Us

About the Solo 401k

  • Qualification
  • Pricing
  • Setup Process
  • Investment Options
  • Roth Solo 401k
  • Reporting Requirements
  • Prohibited Transactions
  • Participant Loan
  • Crypto In Your Solo 401k
  • Real Estate in Your Solo 401k
  • FAQ

Stay Connected

Get the latest self-directed investor news, market updates and trainings straight to your inbox.

Copyright © 2021 Nabers Group LLC | Terms | Privacy

Digital asset services are provided by Nabers Digital LLC