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.