The stock market must be rigged. These guys at Goldman Sachs have the biggest bonus pool the firm has ever had, while the stock market has only just started to recover from its lows and is no where near the originally high. I started a single 401k a few years ago to diversify my savings away from the laundromat business.
Originally I had thought small business was the way to go. But then a laundromat opened up basically across from the street from one of mine and basically destroyed the business. We’ve been in a price war for quite awhile. I’m losing a couple hundred bucks after just the lease and utility costs (not even talking about the labor I’m putting in). But I’m not going to back down, rumor has it they are owned by a large corporation. So if they think I’m a wimp and will back down all my other properties will be at risk. That particular location cost me six figures when I bought it; now it’s a complete cash drain. I’m not sure if it has any real worth.
So back to the solo 401k. I used Fidelity as my custodian and put it in one of their life cycle funds for a retirement date of 2030 or something like that. Haha we will see if I’ll be able to reach that.
