Friday, August 7, 2009

New Roth for self employed?

I heard there is a new roth for self employed folks, does anyone know about this, and also - where would you go to get the best rate for it? The bank? Can you do it online somewhere? Or do you have to go through a broker and pay fees?



New Roth for self employed?mortgage lenders





Yes, there is. It is called Self-Employed 401K, or sometimes referred to as Solo 401(K) plan or Individual (401)K plan



The Self Employment 401(K) plan allows a self-employed individual or business owners with no employees other than a spouse to open and contribute to a Self-Employed 401(k) plan and receive a tax break from the contributions. The plan was established by the Tax Relief Act of 2001 of the Bush Administration, and has become a great tax saving and retirement tool for one-person businesses, owners of mom-and-pop companies, even people who own a side business while working full-time. As long as you do not have any employees other than your spouse -- whether you are running a sole proprietorship, LLC, partnership, or corporation -- you are qualified to open a Self-Employment 401(K) plan.



There are a number of places that offer self employment 401K. Some even have loan features, while others allow you to invest in real estate (other than stocks, mutual funds and bonds). Check out the following places



Fidelity Investments http://personal.fidelity.com/products/re...



http://businessweek.buyerzone.com/benefi... (gives you quotes from various providers)



AIG SunAmerica Funds http://www.sunamericafunds.com/sun.nsf/i...



AIM Funds https://www.aiminvestments.com/portal/si...



Pioneer Funds http://us.pioneerinvestments.com/retire/...



Scudder Investments https://www.dws-scudder.com/usmfWeb/dyn/...

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