There’s a lot of scary stuff going on in our economy and world right now, so I wanted to make sure that I wasn’t adding to it with all our talk of creative financing for real estate or startup investing via your solo 401(k).
I went looking for other sources that talk about solo 401(k), self-directed IRAs, and other self-directed retirement options. When I find these resources, I will share them because it helps all of us to see that we can and perhaps we have to take control of our investments in a new way. We try to share this info, even if it is from a so-called competitor. What’s that saying about a rising tide?
Gene Meeker from Millenium Trust did a solid piece at <em>Realty Times</em> late in 2007 on how realtors can use solo 401(k) and self-directed IRAs to build their retirement with investment properties. It is a well-done article and if you’re a realtor, you may want to take a look. You may also be doing this already and we’d love to hear from you at our Unretired blog (link below).
Check out the <em>Realty Times</em> article: http://realtytimes.com/rtpages/20070706_investways.htm
There’s also a great story in <em>Entrepreneur</em> magazine. Author Farnoosh Torabi writes about David Cole, a private real estate developer and startup investor in reality television, describes how he made decisions to invest with his solo 401(k).
The story explains: “David Cole, a private developer in Fort Worth, Texas, uses a Solo 401(k) to invest in a reality television series and two real estate development projects in his neighborhood. ‘My purpose was two-fold,’ says Cole, 44. ‘I wanted to take advantage of opportunities in real estate and defer the taxes, [as well as] diversify away from the stock market.'”
The article is solid and discusses options with custodians or going without custodians. Either way, talk to your CPA is my suggestion.
Share your self-directed retirement stories with us at: http://www.unretiredboomer.com