I am one of those who has worked for a number of different employers as a full-time employee with funded 401K accounts. Often, whenever I changed jobs I would automatically rollover my former 401K account at the previous job into the new employer’s 401K, plus, there have even been a couple of times that I had left my funds in the former account where it was dormant for years, sometimes as cash, and sometimes as low yielding bonds over which I had absolutely no control.
For a while I had thought that I was the only one who was this passive about my funds and investments, then I discovered that I wasn’t! In fact, this tendency is so widespread that, last year alone, almost $9 billion were abandoned or neglected in old 401K’s and retirement plans of past employers from previous jobs.
Not only this, but it was also apparent these previous employees, who actually own these funds have very little control over the money. Their investment options are quite limited, even when it comes to stocks and bonds, and the fees are mostly exorbitant.
Fast forward to a few months back, I discovered Self-Directed IRA’s that afford you the opportunity to roll over your previous 401K funds and to grant you complete control over your investment choices which are inclusive of varied investment opportunities like Real Estate, Precious metals, as well as Crypto-Currencies.
I found the Real Estate aspect of investing quite fascinating and I started doing my own personal research on it. What I found out was that there are two different types of Self-Directed IRA’s. The first kind is one that comes with an account manager or custodian assigned to manage the account for you and to conduct all necessary transactions on your behalf.
In contrast, the second category is one that grants you autonomy, with complete checkbook control over your account and overall your transactions, with the only condition being that you refrain from any nefarious or otherwise illegal or suspicious transactions that may make you run afoul of the law.
These Self-Directed IRA’s appear quite appealing but their major disadvantage is that they charge very high and exorbitant fees. I have researched them over and again and interviewed scores of their providers, but they are all mostly similar in operation, charging numerous fees on each transaction and for each property you own or operate, making them quite expensive.
Fortunately, there are a couple of exceptions to this unpleasantness, and boy was I glad to have found them. My intensive search helped me to discover Solo 401K and QRP (Qualified Retirement Plan), and very fortunately so. I have compared several providers to both Solo 401K and QRP in my quest to find the best outfit to work with, but none measured up to both, especially to Solo 401K.
Solo 401K gives you complete checkbook control to invest in Real Estate, especially in Apartments, which can be a source of constant mail-box income for you.
Learn about Self-Directed IRA's here
Learn about Solo 401k's here
Learn about QRP here
We have researched many providers of Self-Directed IRA’s alongside Solo 401K and QRP providers, and as our final verdict, we are definitely recommending Solo401K.com. In fact, we have been recommending them to many of our existing partners and investors and all of them have been satisfied with their services.
Ensure you contact Rachel Nabers <firstname.lastname@example.org> for all your inquiries and refer our name to get top-notch, 5-star rated service. Nabers group are pioneers with the best service and the lowest cost!
Note: We have affiliations with Solo401K.com and we also personally use their services.
Click here to open a Solo 401k account
Update - April 2019 :
We did a webinar on "Investing in Apartments using Solo 401k" with Rachel Nabers. Please see Recording and, Slide Deck and Discount code here: