Going Solo - America's Best-Kept Retirement Secret for the Self-Employed: What Financial Institutions Won't Tell You About Saving for Retirement

As noted by several reviewers, this book is extremely redundant. This is not done by the (self-published) author to "emphasis" the importance of repeating his main points for readers, but rather an indication that it was written in fits and starts with poor continuity and lack of brevity. As a writer featured on this site, I know how hard this is to accomplish. Apart from style, the subject matter is extremely important as it relates to the opportunity for self-employed business owners with a Solo 401k/Individual 401k Plan with non-traditional investment opportunities. The author has noted how traditional brokerage firms manage and invest almost $25 trillion with retirement plans in stocks, bonds, ETFs, mutual funds, munis, etc. and will not inform investors of ways to direct their retirement accounts apart from their business model. This point is well taken, but the author is mainly using this book to promote his own firm to essentially create a Checkbook Solo 401k in which you are assigned as Trustee and the Plan uses a bank account to purchase assets, and in the case of precious metals deposit them at the same bank in a safety deposit box. The argument is based on IRS Section 408(m) that these assets are in "physical possession" of a Trustee bank, but not in "constructive control" of Trustee, etc. The author makes vague and painstakingly inference that this technically is not a prohibited transaction, self-dealing and conflict of interest with terms like "seems to suggest," "imply," "IRS has not offered any clear guidance," etc. and even goes on to suggest that the Trustee sign an affidavit that the assets are "not for any personal benefit" (which it clearly is), and take photos with inventory and so on Chapter 7). Why does this author/promoter do this? Obviously to sell services through his firm. Is there a better way? A more legal way? Yes, and I help clients with a fraction of the costs with an approved custodial firm (largest in the US), with no need to have an EIN with personal bank account and all of the potential conflicts with the IRS. The Solo 401k is a dynamic retirement alternative, but you need to do your own due diligence and research. You can find out plenty of information online and save yourself a tedious exercise. The author concludes with a quip from the so-called Buddha: "Three things cannot be long hidden; the sun, the moon, and the truth." I get the sun/moon thing; but getting to the bottom of things can be hidden and obfuscated for a very long time...even when you think you do get it! All the best in your search. CHC

I really enjoyed reading this book on the self-directed Solo 401(k) plan. I have been trying to learn more about this type of plan for my self-employed business and other than a few websites and a couple of IRS documents I have not been able to find any complete overview of the Solo 401(k) plan. I am so thankful I found this book. It reads very easy and goes through all the important elements of a Solo 401(k) plan, such as eligibility, plan contributions, loan feature, distributions, etc. However, what I found the most interesting is that there are different types of Solo 401(k) plan out there, including something called the “checkbook control”Self-Directed Solo 401(k) plan which allows one to make traditional as well as alternative asset investments, such as real estate with the 401(k) plan. I had no idea that the IRS allowed you to buy real estate or make other alternative asset investments, such as precious metals, peer-to-peer lending, private business investments, etc. with a 401(k) plan. The book also goes through the prohibited transaction rules in detail which govern what type of investments can be made with retirement funds. I haven’t been able to find any other book that focuses on the Solo 401(k) plan let alone one that gave so much information and details. I would absolutely recommend this book to anyone interested in learning about the retirement options for the self-employed or thinking about doing a SEP IRA

I purchased the kindle version of this book and have learned a lot of information that I needed to know. I am one who also appreciates a real book, so I recently purchased a physical copy of the book. There were absolutely no page numbers on any page of the physical book. While this might seem somewhat trivial, for use as a resource, this physical book will be literally useless. I am in the position now where all I need is to search for a topic in the table of contents and then look up that topic by...the page number.

Most of the information about individual 401k's are from someone trying to sell you their service online. I even discovered this book from one such website. However it goes through all the nuts and bolts without having to spend days sifting through web pages. Yes, it does get repetitive, but I suspect the author was trying to reach a page count number.

This book could be one of the best investments you will ever make. If you qualify and follow the plan it could open the door to an unprecedented return on investment. In a well written definitive manner this books provides a fact filled comprehensive plan to establish a Solo IRA. Written in layman's terms with numerous practical examples or scenarios it is informative and is easy to follow.

This is an excellent book. It is well written, thoughtful, and engaging. Adam Bergman has taken an otherwise complex topic and presented it in a way that is straight forward, clear, and abundantly helpful. The book should be very helpful to any self-employed business owner looking to maximize his or her retirement potential.

A well detailed factual explanation of the (coveted ) Solo Ira, a must read for every small business owner - wether sole propritor or partner. Insightful delination if the laws behind it and all the benefits if it.

No page numbers, difficult to find information.