REOPro - Real Estate Default Professionals
America's Largest Social Network for Default Real Estate Professionals
“Compound interest is the 8th wonder of the world… Those who understand it earn it… Those who don’t pay it.” ~ Albert Einstein
Thanks to the efforts put in by financial gurus, a lot of people are aware of the concept of compound interest. For those of you a little dubious about the same, here’s a quick definition:
‘Compound interest is interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan. Compound interest can be thought of as “interest on interest,” and will make a deposit or loan grow at a faster rate than simple interest, which is interest calculated only on the principal amount.’ ~ Investopedia
Being a retirement solution provider, we help our clients realize the benefits of compound interest and one of the best ways to do so is to contribute towards a tax-deferred retirement account.
How about combining the magic of compound interest with a Roth Solo 401 k account?
A Roth Solo 401k account is a retirement plan for self-employed professionals and owner-only businesses, allowing after-tax contributions. Under the plan, the account owner pays taxes upfront and in return, they receive tax-free distributions.
Here is a short Infographic to highlight some of the primary features of a Roth Solo 401k plan:
© 2019 Created by Jesus (Jesse) Gonzalez.
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