Tip:
Highlight text to annotate it
X
Tim: This video is all about alternatives to 401(k)s.
Good morning, Brian.
How are you?
Brian: Very good.
How are you, Tim?
Tim: I’m doing well.
I’m really learning a lot this morning.
Brian: I’m glad.
Tim: And one of the things I’m learning about is a retirement fund called a 401(k),
and correct me if I’m wrong, which is for the self-employed kinds of people.
Is that fair to say?
Brian: Correct – a Solo 401(k).
Tim: In particular, a Solo 401(k).
So, my question is, if you’re kind of the kind of person who’s feeling like, you know,
I’d like to be able to do...
I feel stuck in a 401(k), I’d like to, you know, come up with more options, what are
some alternatives to a 401(k)?
Brian: Before speaking about alternatives to a 401(k), very often we find clients that,
once they learn that they can actually self-direct their Solo 401(k) and invest in various types
of asset classes that they didn’t realize they could invest in before, such as real
estate, precious metals, private placements, tax liens, personal loans, what have you,
they don’t find that they’re no longer as frustrated by having their money just contained
within a very stale, sterile 401(k) where they’re not really happy with the results.
So, very often, they no longer want to get the money out of the 401(k) because they realize
they can do so much within the 401(k).
Tim: So, this makes sense.
For example, I’ve got some friends, and I really do respect what they’re saying,
they have some concerns about sort of economy and recession, what have you, and they’re
investing in gold right now.
So, if they want to, so to speak, get their money out of their 401(k) and invest in gold,
what I’m hearing is they don’t need to get their money out, they just need to change
from a normal 401(k) traditional to a self-directed.
Have I got that right?
Brian: That’s absolutely right.
Tim: Okay, good.
What are some of the other alternatives to a 401(k), other things I could invest in?
Brian: So, as I mentioned, investment property, a person can use a Solo 401(k) to purchase
real estate with certain restrictions, a person can invest in various types of private placements,
a person can invest directly in second mortgages.
The list is really quite, quite long.
Tim: All right, good, thank you.
Well, I didn’t know there were any alternatives to a 401(k).
I appreciate the insight.
For those of you who’d like to find out more, please visit us online at broadfinancial.com,
or reach out and ask our amazing customer service team who will answer all of your questions.
Maybe there’s something that you want to invest in, can be done within a self-directed
Solo 401(k).