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December 27, 2012
As we head into the New Year, many people will likely be looking at their bank accounts and then making it their New Year’s Resolution to save more money. While this resolution is admirable for anyone, why not take it one step further and have your New Year’s Resolution be to take control of your retirement! Mentioned in an article from Fox Business, George Papadopoulos seized the opportunity to take control of him and his wife’s retirement when his wife’s employer made significant changes to her company’s 401(k) plan.
In addition to offering an extensive list of mutual funds that employees could choose to invest their money in, his wife’s company began offering a self-directed 401(k) option for employees. Papadopoulos, being an experienced investor looking to take control of the couple’s retirement, jumped at the opportunity for self-direction. “Self-directed 401(k) options are great for experienced investors like myself,” Papadopoulos said.
Even though a traditional 401(k) plan and a self-directed 401(k) plan offer the same pre-tax benefits and automated payroll deductions, the true difference between them is the investment choices you have with a self-directed 401(k). Self-direction dramatically expands your investment options from a short list provided by your employer to a variety of investments including real estate, tax liens, stocks, bonds, mortgages, notes, precious metals, and other investments.
The percentage of employers offering self-directed retirement savings plans in 2011 was 29% and this number is growing. Who knows – maybe your employer will be next to offer a self-directed 401(k) option to employees? Give our Florida self-directed IRA administrators a call today at 407-367-3472 to learn more about your self-directed retirement plan options!