3 Reasons why today is the best time in human history for immense personal wealth and freedom October 22, 2008
Posted by Jeff Nabers in Health, Money, Personal Enjoyment, Personal Productivity, Self Directed IRA/401k, real estate.Tags: 401k, boom, bubble, business owner, bust, doom, economy, entrepreneur, entrepreneurship, family, fraud, freedom, future, gloom, government, independence, invest, investing, investment, ira, meltdown, opportunity, riches, self directed, self employed, self employment, small business, solo, Solo 401k, technology, wealth, world
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While there are many people finding themselves more fearful than ever, there are others who are more excited than ever. Here’s why…
- The rules of safety and courage have changed. Since the industrial revolution, employee-ism has surged. During this time, getting a job to work for somebody else was the safe thing to do. On the other side of the coin the risky, courageous act of working for oneself is what brings riches. As a result, each person has been faced with a choice to pursue either safety or riches. Part of what made employee-ism the safe bet for an individual is the stability of companies as well as what has become the largest store of non-real estate wealth in our country: holdings in the stock market. This year we have seen the rules of the game permanently changed. Our financial system is crashing, and trustworthiness has evaporated from corporate America and the financial services industry. Now working for yourself is no longer the courageous thing to do; it’s the safe thing to do.
- Technology has brought immense power to everybody. Personal computers and the internet are now available to just about everyone. This has made some very expensive things become cheap or free. This has made it possible to do things that were previously impossible. There is no longer a need for every transaction to take place in a physical location. Needs and desires are able to be fulfilled online. In many circumstances, the large corporation cannot compete with the one-man shop. Today a person can start and run several businesses for little or no money. Taking something and creating or increasing its value has never been more accessible.
- Arbitrage has never been (more…)
Weak economy strengthens the incentive for a Solo 401k October 18, 2008
Posted by Jeff Nabers in Money, Self Directed IRA/401k, real estate.Tags: Solo 401k, self directed, ira, 401k, profit, real estate, invest, investing, inflation, dollar, solo, wealth, economy, meltdown
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This is quite a simple concept so this post will be very brief.
- Our weak economy has brought very high inflation: currently 13% per year.
- Future dollars are worth much less than dollars today.
- With a Solo 401k you can make tax-deductible contributions to your retirement plan in today’s dollars and pay taxes later in less valuable dollars.
- Successful entrepreneurs and self employed individuals can contribute $46,000 per year or more to their Solo 401k.
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