Sunwest Trust Inc Now Offers Individual 401k Services And Is On
Pace For Another Record Breaking Year
on: July 28, 2009, 3:50 am
Trust, Inc. (www.SunwestTrust.com)
over their 22-year history has been known for their diverse business
interests. Sunwest Trust has offered the self directed IRA for
years as one of their primary self directed products for individuals
looking to truly diversify their investment portfolio on their
own. Now Sunwest Trust offers their latest product, the Individual
401k, aka i401k.
Albuquerque, NM - July 29, 2009 -- Sunwest Trust, Inc. announces
the launch of the Individual 401k or i401k. "The i401k gives
self-employed business owners the same tax benefits that large
corporations have enjoyed for years," says Terry White, CEO
of Sunwest Trust, Inc. as well as White adds, "a number of
additional benefits not offered by the traditional self directed
With an i401k, business owners may be eligible to contribute far
greater amounts to their 401ks than they could with any other
type of retirement plan. In addition, the i401k is much simpler
to administer than a typical 401k plan.
Another advantage to the i401k is the Roth contributions that
you are eligible to make. You can designate some or all of your
deferrals as Roth contributions. Roth contributions are after-tax
dollars, so those contributions will grow tax-free.
Unlike self directed IRA, you may take loans from your i401k.
Also, the i401k has lower administrative costs than most retirement
options for a small business owner. Unlike a self directed IRA,
with the i401k you do not need to have a self directed IRA custodian
for your i401k. You may act as trustee for your own plan.
White does note, "that the i401k is not for every small business
owner and that there are restrictions and guidelines someone must
follow in order to be eligible." White recommends, those
who seek to invest using the i401k, "consult a tax professional
to make sure that they are making their contributions correctly
and to help them fill out the form 5500-EZ when their i401k accumulates
To be eligible to have an i401k, you must be a self-employed business
owner with no full-time employees other than your spouse. Whites
also states, "investors need to make sure to check with their
tax professional to find out the limitations and amounts that
can be borrowed from the i401k plan."
White adds, "The timing of the i401k could not be better
for business owners as well as the company. Despite the tough
economy, Sunwest Trust continues to grow. By adding new products
and providing the same great customer service their clients have
come to expect, Sunwest Trust is well on their way to another
record setting year. The company has already seen 16 percent growth
from this time last year and there are no signs of slowing down
anytime in the near future."
One explanation for the sudden growth over the last two years
has been the volatility of the stock market. When the stock market
hits uncertain times, many investors would rather not gamble their
future on Wall Street and investors look for more stable investment
opportunities. Self-directed IRAs and 401ks allow savvy investors
the opportunity to find the investment that best fits their investment
needs, risk tolerance and retirement goals, whatever it may be.
White adds, "not all investments are ideal and whenever you
make an investment there is always inherent risk involved. Each
investor should acquire competent legal counsel and commit to
completing the proper due diligence prior to shifting their retirement
dollars into an alternative investment." He adds, "just
as it is not your local bank's responsibility to validate the
veracity of an investment, neither is it the IRA custodian's job
to validate the authenticity of the investments you make with
your IRA/401k dollars. The last thing you want to do is gamble
away your hard earned retirement savings blindly without verifying
the genuineness of the investments your are making."
About Sunwest Trust, Inc.
Sunwest Trust is an independently owned private company that offers
self directed IRA custodian, escrow and now Individual 401k services.
The company offers a huge range of financial services providing
post retirement benefits, private mortgages, real estate contacts
and other related fields for its clients. FDIC insured banks back
the self directed IRA funds of their clients. For more information
on the activities of the company, please visit http://www.SunwestTrust.com.
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Sunwest Trust, Inc.