“So now doing what I’m doing and creating the systems for our clients to plug into, I really enjoy what I’m doing and I’m practicing what I’m doing as well. I use retirement accounts to invest in alternative assets and maximize them as much as I can. And it’s just a great way to be able to grow your wealth in a tax-deferred environment. So I believe in that I practice this and I do help my clients build wealth, using tax-deferred retirement accounts.”
Dmitriy Fomichenko is the founder and president of Sense Financial Services LLC, a boutique financial firm specializing in self-directed retirement accounts with checkbook control. He began his career in financial planning and real estate investing in 2000. He owns multiple investment properties in various states and is a licensed California Real Estate Broker. Over the years, he has instructed hundreds of investment and financial planning seminars and has mentored thousands of investors.
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Making Sense Of Your 401k Investing In Real Estate With Dmitriy Fomichenko
Brett:
I’m excited about our next guest. He is the founder of Sense Financial. He is on a mission to help you get checkbook control of your IRA, right? And so there are tons of options. There are ways to invest in and hard money lending into real estate and not have to be stuck in the traditional security stocks, bonds, mutual funds world. With your IRA so you can create and preserve more wealth. Please welcome the show with me, Dmitriy Fomichenko. Dmitriy, how are you doing?
Dmitriy:
I’m doing great, Brett, thanks for having me. Excited to be on your show.
Brett:
Excellent. What’d you give our listeners a little bit about your background and your current focus?
Dmitriy:
Sure. So as you can hear from my accent, I’m not from here. I’m an immigrant. And many people who actually, by the way, were born here don’t realize how great this country is. So back being born and raised in the former Soviet Union. I love this country. This is my country now. By the way, I’m a citizen. I didn’t even keep my Russian citizenship. I love this country and glad to be here because not only it gives me freedom, but also it has so much potential for opportunities. Starting a business and helping. But my background is in electromechanical engineering. That’s what I went to school for. Study here for a couple of years, as well, to translate my degree. Worked in the field until I was laid off which forced me to go and look for something else. I ended up being recruited to be the local financial services firm. And about the same time, I started investing in real estate. And then a couple of years later I transitioned full-time in real estate. Was working with a local real estate investment firm. And I was given a task to start a department in a company to offer self-directed retirement solutions for our clients. So I did that for about a year. And then I transitioned on my own. In 2010, I started at Sense Financial. And so what we do is we provide our clients with the solution, give them the opportunity to obtain checkbook control over their retirement accounts. Because of the conventional IRA and 401(k), your investment options are always limited and confined to the stock market. But the IRS doesn’t give you documentation. The IRS says you can invest in virtually anything, but the custodians that you’re with play those limitations. So we basically unlock your retirement account and enable you to invest in alternative assets.
Brett:
Love that. Absolutely. We’re going to dive into that, those strategies here in a minute. I want to take a step back though, and I want to connect some dots for our listeners. When you talked about the gift of freedom for America and how much we appreciate that. And I also want to connect how you provide that same freedom for folks now with the IRS, right. But more so I want you to focus on the gift. I believe they’re all been given certain God-given gifts, Dmitriy, and they’re used to bless others. So what was that one gift that you believe you were given and how does that help how you help people today?
Dmitriy:
Well, yeah, my life has definitely been a journey. Going back to the early years of being a teenager, I had the entrepreneurial spirit, and actually, I remember doing a few different things. One of the first things was actually selling ice cream. We lived in a town that was in… Basically, there was a major railroad hub and a lot of trains that were going South vacationers would stop an hour in our town. So I will bring ice cream, a box of ice cream, and I sold it to the vacationers, made some money. I’m a part of the… Basically, I was born in a family of nine children. I’m one of nine boys. So my parents differently have their hands full with all of us and were just a way to contribute to the family. But I commented to this country it was great because there’s so much opportunity. And being in financial services and then in real estate investing all of that was a great foundation for me to start the business. And also being an engineer. Although I didn’t really enjoy working as an engineer on the manufacturing floor, dealing with money problems that will arise almost daily, taught me some very valuable lessons. So now doing what I’m doing and creating the systems for our clients to plug into, I really enjoy what I’m doing and I’m practicing what I’m doing as well. I use retirement accounts to invest in alternative assets and maximize them as much as I can. And it’s just a great way to be able to grow your wealth in a tax-deferred environment. So I believe that I practice this and I do help my clients build wealth, using tax-deferred retirement accounts.
Brett:
Absolutely love it. Thanks for connecting those dots. And by the way, I’m also a client of, Dmitriy’s. I used part of an IRA that I had and have the checkbook control of that. And so that’s been an absolute pleasure to work with him. And his company is so highly… Highly recommend them and would use them again. That being said, you talked about a little bit how you became fascinated once you had the job. Oh, the task of the company you’re working with to give people alternatives. And then you quickly found out there was a big need in the marketplace. You’re looking around and going, “Oh my gosh, no one’s really doing this.” So walk us through that first, “Hey, okay, I’m going all in and I’m going to start my company.” Give us that first big hurdle that you had to overcome.
Dmitriy:
Well, maybe expand on that a little bit just to clarify. The company that I was working for provided an opportunity to invest properties in our clients. And at that time 2007, ’08, ’09, when the market crashed and people’s financial situation changed, some people either lost their jobs or had their incomes affected, or maybe ones lost some properties had greatly affected. So that they could continue to buy, even though it was a great time to actually buy. You want to buy low and sell high, right? So it was a great time to buy, to continue to invest in real estate. But people couldn’t do it with their savings, but they had money in their retirement accounts. And so basically because of my background in financial services and knowledge of different retirement accounts, and also being a real estate investor myself, I was given a task to start the department within the company. Because none of the companies that we actually worked with tried several different custodians and none of them worked out a long chart. We worked with them for a few months and then we’d have to look for somebody else because none of them were able to provide good enough client services. And that’s actually my… I think that’s my trend because I’m kind of a perfectionist in a way. To a certain degree, I like things to be great. And I’d like my clients to have a great experience. And so it was hard to find that. That’s why I had to start something from scratch. And I was blessed to actually do this within the environment that allowed me to do this. And then about a year later, I decided to go on my own. And that’s how we do. We basically, the two services that we offer now are a checkbook IRA. That’s the first thing that actually I did, the IRA that gives the client checkbook control. Then later about a year later, I discovered that there is a solo 401(k) and we added that to our services. Now the business has changed drastically. So we actually… Right now, we’re doing about 90 to 95% of our clients are solo 401(k) plot clients. And about five to 10 IRA clients. Because solo 401(k) is just so incredible. And we’ll dive into that.
Brett:
Yeah. Let’s dive into that right now. Actually, I think that’s our listeners who are listening right now. If they have a 401(k) or an IRA, but let’s focus on the 401(k). It’s a big part of the wealth transfer about 17 to $20 trillion of assets are going to transfer from one generation to the next and the next 20 years. And this is known as the baby boomers. In fact, there are about 77 million retirings in the US… There are about 77 million baby boomers in the US alone. About 10,000 every day are turning 65. And so a big part of that is this 401(k) massive amount that they’ve built up over the last 20, 30 years of their working life. Right? And so now they’re looking for… They’re not necessarily excited about all-time highs in the stock market. They’re concerned with what could happen, what could change in the world. And they want some diversification, move it into real estate. So focus on the ability… Step one, 401(k), and then step two, get into a solo 401(k).
Dmitriy:
Yeah. Well, first let me just explain, because many people probably are not aware of what that even is. So an IRA is an Individual Retirement Account, anybody can do it. If you have income, or if you have existing retirement accounts, you can open an IRA. An IRA typically held it like a custodian. You must have a custodian that’s required by the IRS. And the custodian gives you the investment options. So if you go with Schwab or Fidelity, the custodian will give you the investing options. And again, the custodian has the power to limit your investment options. So if you’re with Fidelity, you only can invest in investments that are offered by Fidelity. Now, a self-directed IRA is a custodian that allows you to pick alternative investments. They don’t limit your investment options. But the downside of that is that you have to go to the custodian for each transaction and each investment that you make. So that increases the cost because they charge a fee for each transaction and each asset that you own inside of your IRA. And also it creates an inconvenience because you have a middleman that you have to deal with. So the checkbook IRA accomplished, or checkbook control accomplished by creating a special purpose, single-member LLC that your IRA owns and the client you control that as a manager. So the IRA invested into the LLC. And now as the manager of the LLC, you have checkbook control. So you literally have a check-in account in the name of the LLC that your IRA owns. And you as a manager can simply write the check and you can buy a piece of property. So that’s how that works. Now, solo 401(k) is a little bit different type of animal altogether. A solo 401(k) is a 401(k) again, but solo means that it’s designed for those people or individuals who either self-employed or own a business, and have to be legitimate businesses with earned income. And number two, which is what is important, you cannot have any full-time employees working for you. So it’s, you can have part-time employees under 1,000 hours, but not full-time employees. And the reason for that, because if you have somebody working for you as an employee over 1,000 hours then the law requires that you offer them retirement benefits as well. And solo 401(k) can not accommodate that. But solo 401(k) has some tremendous benefits. Compared to an IRA it does not require a custodian. So there was no need for a custodian. And you don’t need an LLC to gain checkbook control. So you do that by creating a trust, instead of using a trusted company or a custodian, and you become the trustee. So as a trustee, you control that. And again, talking about the taxes, again, my clients are those who own a business or self-employed. And obviously, if you get into the business or you become self-employed one of the great benefits of not working for a paycheck because when you work for a paycheck, there is a limit. You have a salary, or you get so many dollars per hour, and there is a cap. You reach the cap because it has only so many hours. So there you can work, right. Well, when you work for yourself, there’s really no cap. You remove that cap. There’s unlimited investment income potential that you can generate. And obviously, most people don’t stop there, but that’s the goal. So if you get there or if you’re about to get that there, the problem with the larger income is the larger taxes. The more you earn, the more you have to pay in taxes. Well, solo 401(k) is a great tax deferral because it allows you to shelter up to $57,000 of your income from taxes. And if you are a husband and wife team working together, then you can double that. I mean, imagine sheltering over $100,000 of your family income from taxes. What that’s going to do? I think that’s going to bring your taxable income lower. You probably, not probably, you shorten your… You’ll be in a lower tax bracket. So you’re going to be paying lower taxes into a lower bracket. So the savings is going to be pretty amazing. So it’s a great tax sheltering vehicle but also gives you unlimited investment potential.
Making Sense Of Your 401k Investing In Real Estate: “Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.” – Andrew Carnegie
Brett:
Amazing, right? So, just a quick little recap. So solo 401(k), you need to be self-employed or own a business. You can have no full-time employees, 1,000 hours or less, or some part-time employees. No custodian, no LLC, just the trust, and you’re the trustee. And you have what’s called checkbook control where you just write a check. You want to invest in real estate. You write the check. You want to invest in stocks, bonds, mutual funds you can write the check. And you can also shelter some income. So let’s say you made $100,000 extra this year, and you’re, let’s say at 350,000… Let’s call it $349,000 of income. Okay. Now, if you put 100,000 into that, you drop below that 250 marks, you’re lowering your overall tax bracket and your taxes. Is that a fair summary?
Dmitriy:
Yeah. That’s exactly right.
Brett:
Yeah. We call that tax optimization, right? So pay tax when and if you want to based upon the laws that are given, they’re all legal, right? But you have to make sure you get with, Dmitriy, right? You get with us at Capital Gains Tax Solutions, because we also have a similar thing with the deferred sales trust, and that you can sell your highly appreciated asset moving into the deferred sales trust. And then you can just decide when and if you receive that income. And so some of our high net worth clients, they have, let’s say a $500,000 income coming from an asset that they’re taking in, fully depreciate it. And they’re just taking all the income and paying all the tax. Well, they can sell it, move into the deferred trust. And let’s imagine that trust is now producing 500, but they don’t have to personally take the income. They can just allow the income to compound and build on top of itself. And therefore their tax bracket is being lowered by 500,000. So it’s similar in the way the 401(k) works. And then you can turn it on later and start receiving that income, perhaps when it’s more an optimal time for you to do that. So that being said, so keep digging into more. Okay. So what are some of the restrictions though we want to be careful of once we have it set up? Walk us through the cash flow of the real estate deal. Let’s say I had a million-dollar 401(k). I put it into solo 401(k), and I go buy a $3 million commercial real estate property. First of all, can I get leverage on that deal? And then second, what happens to the cash flow?
Dmitriy:
Well, this is still a retirement account, whether it’s an IRA or a 401(k), it’s still a retirement account. So the concept is still the same. Really the difference… Well, obviously a solo 401(k), those who hear about this for the first time, got some really unique features. I talked about the ability to make large contributions. But ultimately it’s a retirement account so the rules are the same. You’re able to… The contributions are tax-deferred so you minimize your tax liability. You’re sheltering your income from taxes. And then it grows tax-deferred, but you cannot touch the money until your retirement age. So it’s really your… It’s not for your benefit currently. It’s for your future, you. You’ll get to benefit from that. There are some features that allow you to actually benefit from it even currently. We can touch on that. That’s a participant loan feature. But talking about just the concept. So when you invest in alternative assets just like when you use your traditional IRA or just a conventional 401(k) and you buy stocks. Well, stocks by dividends, and then when you sell the stock, you’ve got the gain. Well, all that gain and all of the income stays with you in an IRA or reaching a 401(k). You don’t get to take that out and use that personally. Now you can do that if you take it out, you’re going to have to pay taxes on that. And penalties, if you take pretty much your distribution. So the same rule applies within the self-directed IRA or a solo 401(k). But the key is you’re able to grow it in a tax-deferred environment. And so if you have an asset as you said, this property that produces X amount of dollars, it goes back to them into the 401(k) not being taxed. So you’re able to grow that and then eventually reinvest and continue to reinvest. So you actually take advantage of the deferred growth and you achieve that growth much quicker, compared to if you had the money and just in your personal savings account or personal investments.
Brett:
I love it. So I pull a million out… I don’t pull it out, but I put it into the sole 401(k). I used that checkbook to write for a down payment to buy a $3 million asset. All of the cash flow that’s coming in, I just roll it back into my 401(k). So I’m not being taxed on that, it’s all in deferral state. Fast forward that $3 million property sells for 4 million, five or 10 years later or whatever it might be. Can I roll all of that gain as well into the 401(k) and defer all the capital gains tax?
Dmitriy:
Well, there is no capital gain tax in a retirement account because all that gain is not your personal gain. It’s the gain of the 401(k). It’s exactly the same concept. As I mentioned earlier, when you buy $3 million worth of stock, and then a few years later, you sell it for four million. Well, it’s not you, you’re controlling it. You’re selling the asset or the stocks, but 401(k) owns it. So in 401(k) stocks exempt. So you’re not paying the taxes on the gain because it’s inside of a tax shelter.
Brett:
Excellent. You’d only be paying on the million if you took it off… So if you cash out of everything, you just have that 10% penalty and you’d pay ordinary income tax on that? Is that what that would be?
Dmitriy:
Yeah. So normally how it works inside of a retirement account, whenever you take a distribution from a retirement account… Now there is a pre-tax retirement account and there’s a route. So there is a difference. Route if you contribute to stocks and qualified distributions are tax-free. In the pre-tax retirement account, you contribute pre-tax, you’re not paying the taxes and the contribution that lowers your taxable income, and then it grows tax-deferred. But when you take a distribution, you do pay taxes on the amount that you take out as a distribution. So you don’t pay the taxes on the sale of the property. Let’s say you sold and then you decided to pull a $100,000 house and you have your worth a million or $4 million worth. It continues to be tax-deferred, you’re only paying taxes on the amount that you take out, okay. Now, back to your other question about the leverage. So you can use leverage inside of a 401(k). And the way that it works, because IRS rules do not allow you to provide a personal guarantee for a property that you’re buying inside of your 401(k). Therefore you must use non-recourse law. And non-recourse means that there is no personal guaranteeing it. So the property is the only security for the loan. The loan is given to the 401(k) and most conventional lenders don’t do these types of loans. So you’ve got to go with the select lenders who specialize in that. And they’re out there. We actually have a list of those lenders on our website. Over the last 10 years, I assembled the list of lenders who specialize in this. It’s actually fairly easy to get the loan, assuming the property qualifies. Now, the lender is taking a higher risk because they can come after you if you default. So the properties don’t have security. So typically those lenders do require 20, 40% down. And the rates are a little bit higher than the conventional. But again, you can compare that with the conventional that’s going to be apples to oranges comparison. But you certainly can get… You can buy a property. I’ve done it myself. I own a property with leverage and it’s fairly straightforward. The loan is given to the 401(k) and you collect the rent. And then from that, you pay the mortgage.
Brett:
Excellent. Now let’s dive into the participant loan feature. And this is something that I actually personally did with, Dmitriy, for my IRA. So actually, no, actually I saw that was the 401(k) actually. So for the 401(k), I actually did the loan feature there. So walk us through, Dmitriy, how that works and exactly what that is?
Dmitriy:
Yeah. So some of you who have a 401(k) with your employer or maybe had one in the past, might remember that you had the ability to borrow from your 401(k), take a loan. So the participant loan in the 401(k) works like this. You’re allowed to borrow from your 401(k) up to $50,000 or 50% of the balance, whichever is less. Generally, speaking it’s a five-year loan and you have to pay it using amortized payments over a period of five years. The interest rate is set at prime plus 1% and the loan can be used for any reason. So this is a… I call it as you create in your own private bank that no one is going to turn you down. I mean, think about this. If you’re able to have a financial need, if you’re covering an IRA, there is no way you can borrow from an IRA. It’s not allowed. So you will have to take a distribution. And typically if you take a distribution, if you need the money, if you do it before normal retirement age, there’s going to be taxes and penalties. So you might end up losing half of what you’re taking. I mean, if you need $10,000, you might have to pull out $20,000. So half of that goes to cover the taxes and penalties. Well, with the solo 401(k) participant loan, you can make money any time for any reason. Again, limited to 50,000 or 50% of the balance. And you can use those funds for any reason whatsoever. Now, also to add, it’s not something that you want to be used. You don’t want to pull out this loan and go buy a new car or a boat. I mean, if you need a new vehicle, you can get financing at 3% nowadays. So it’s very cheap money. Why would you borrow from your own 401(k) when you can invest this money and get 10, 12% or more, at least you’ll have your money. So be wise about this. But it’s a great feature that it is there whenever you need that.
Brett:
Excellent. So well said. So hopefully you’re gathering here that you’re going to need someone to guide you through this, right? And this is what, Dmitriy, provides at sensefinancial.com. Give your IRA make-over, give your 401(k) a make-over here, and take back checkbook control, and have some options here to grow your wealth. Make sure you reach out to, Dmitriy, if he can help you with that. With that being said, Dmitriy, are you ready for the lightning round?
Dmitriy:
Well, just to maybe expand on your-
Brett:
Sure, go ahead.
Dmitriy:
… the last comment is-
Brett:
Yeah.
Dmitriy:
… I was just thinking about this. If some of your listeners think that you’re thinking, well, I don’t have any experience investing in alternative assets. I’m not an investor or I don’t really understand this stuff. Well, if you just been invested like most people in conventional retirement accounts, investing in the stock market, you’ve seen what’s happening. Basically, the stock market is like a roller coaster. It goes up and then it goes down, up and down, and then hopefully you’ll do okay in the long run. But the problem is that you don’t know what the future is going to bring. I mean, go back to 2007, I’ve seen some of my clients lose half of their portfolio. So if you lose 50% of your portfolio, then you need to have 100% gain just to get back. I mean, think about that. You don’t have to go very far, go back to February of this year when the pandemic hit and the stock market dropped. I don’t have much money in the stock market, but with the little money that I have, I had a 30% drop. About 30% and I mean, it’s pretty significant. Now, that’s little money that I had. The majority of my portfolio was in real estate or private lending and that had almost zero effect, almost zero. So now thankfully the stock market recovered. For me, it was about maybe four or five months when I gained back. And that’s something that I think unheard of in history did not happen that quick. I mean, normally it takes years to recover. But I think because of the policies of our president that happened which, again, don’t count on that in the future. The beauty of the subject, the retirement account, that you have a whole wide range of investment options and you don’t have to know it all. There are people that can guide you. Again, you can talk to me, you can talk to Brett and there are other professionals who can help you guide you, how to make the right investment decisions. You don’t have to know it all, but the point is that it puts you into control and gives you the options.
Brett:
Absolutely. So well said. Yeah. And that’s personally how I have most of my wealth. Senior housing, mobile home parks, multifamily, more recently out of California because the prices are just through the roof. And there are opportunities. So absolutely reach out to, Dmitriy, or myself when we can help you walk you through that next step. So that being said, are you ready for the lightning round, Dmitriy?
Dmitriy:
All right. Sure I am.
Brett:
All right. So knowing what you know now if you go back to your 25-year-old self, what’s the one golden nugget you’d make sure you do?
Dmitriy:
Well, when I was investing in my just investment experience, I made some mistakes. And one of the things that I learned from that, I actually, I think it was doing too much too quickly. And I think greed was driving me. So, that’s a lesson that I learned. You don’t chase building wealth quickly because that’s maybe you’re chasing speculation and that’s not the way to invest. I’m okay with building wealth slowly using proven strategies. And if you do that, you’ll be up there.
Brett:
Love it. What is the one book you’ve recommended or gifted the most in the past year?
Dmitriy:
Well, one book that I want to mention that was life changing for me is Cashflow Quadrant by Robert Kiyosaki. Well, it wasn’t in the last year, it was early a number of years ago that I read that. But it’s a great book that anybody can benefit from. And that basically teaches you what you want to be? Do you want to work for the money or do you want your money to work for me? So I’m on the right side of the quadrant. I’m an investor. I have my money work for me and I have a business that works for me, as well. So you want to get on the right side of the quadrant.
Brett:
I love that.
Dmitriy:
But you’ve got to start somewhere, right. It’s a great concept.
Brett:
Absolutely, love that. Yep. Check that one out. Cashflow Quadrant. Give me the mobile or digital resources you recommend for your business.
Dmitriy:
Well, the resource that… Can you clarify the question?
Brett:
Yeah. Mobile or digital resource. So it could be an app, it could be a website you use, it could be software. What’s something that you use for your business that you found very helpful.
Dmitriy:
Oh, for the business that I personally use for the business. Well, I use basically a scanner like an app. I think it’s called the Fast Scanner. That’s just one of the resources that I use. And basically, I store all of my receipts that way. I just thought of a picture and it stores an electronic copy of the receipt. I don’t even have to store the receipts. And you can use it with all documents pretty much not just receipts as it’s what a useful tool. I’ve basically gone away from the paper storage.
Brett:
Smart.
Dmitriy:
I don’t do that.
Brett:
Yeah, go paperless. That’s very smart. Name me a favorite leadership quote or theme that you strive to live by?
Dmitriy:
Well, it’s a golden rule. Do unto others as you wish others do unto you. And when it comes to a business is basically just the concept that I learned that early on. You want to find a problem or you want to identify the problem, and then you want to provide a solution. And just focus on helping other people. And as a result, you’re going to get blessed. You’ll be blessed and you’re going to be rewarded both financially and with friendships and in my other ways. And that’s what I did. I found that there is a need and I provide the solution. And I focus not… I’m not really necessarily focusing on growing my business, I want to help my clients. And as a result, that will happen naturally.
Brett:
Love it. So well said. What are you curious about right now?
Dmitriy:
Well, what I’m curious about in the future. What the future is going to bring. Again, I came from another country and seen how great this country is and just it’s disappointing to see the direction that our country’s moving towards socialism. There is nothing like the United States. And I hope that all of us, people who are thinking for themselves can really stop this madness and keep what we have. I really wish we don’t lose our country. We’re just moving in that direction. So that’s the kind of concern that I have.
Brett:
Yeah, so well said. So well said, and I couldn’t agree with you more. And that’s more freedom and better. So, the-
Dmitriy:
Yeah, you don’t have the government controlling you. When you give control to the people it explodes in all possible ways in prosperity and everything else.
To a certain degree, I like things to be great. And I'd like my clients to have a great experience. And so it was hard to find that. That's why I had to start something from scratch. And I was blessed to actually do this within the… Click To Tweet
Brett:
Yeah, absolutely. So the next question is, how do you stay centered in your values, Dmitriy, after all, your success and helping so many people and achieving so much from moving from another country to America. How do you stay centered in your values and how do you stay encouraged to charge forward to reach new goals?
Dmitriy:
Well, if you go to my website or look at my presentations, I use a lot of proverbs. Proverbs is a book in the Bible that has a lot of wisdom for life. So Bible is my instruction for life, and I read it daily and I do my best to apply it in my life. And that’s how I stay focused.
Brett:
Absolutely, love it. Likewise, same here. And I love the book of Proverbs and I read the Bible daily and I’m a Christian. So that is for me the best way to stay centered, as well. So for our listeners, Dmitriy, who wants to get in touch with you what’s the best way for them to connect with you?
Dmitriy:
Well, the best way, probably going on our website sensefinancial.com and sense is like common sense, S-E-N-S-E sensefinancial.com. There you can submit a form and request a one-on-one consultation with me. I’d love to offer that to your listeners because there is so much more that we can talk about that. And it’s impossible to cover every possible scenario, but I’d love to speak one-on-one with your listeners and just to help them maybe figuring out the better direction for their life. You can also find me on Facebook, in LinkedIn, and on BiggerPockets.
Brett:
Excellent. I know that’s what you did for me. And it was so helpful and that’s why I became one of your clients and used the solo 401(k). So with that being said, I thank you, Dmitriy, for sharing your wisdom, your knowledge, the details on the solo 401(k), on IRAs, and I want to encourage you to keep using the gifts you’ve been given to bless others. And also want to thank our listeners for listening to another episode of the Capital Gains Tax Solutions podcast. As always, we believe most high net worth individuals and those who help them struggle with clarifying their capital gains tax deferral options. Not having a clear plan is the enemy and using proven tax referral strategies, such as the deferred sales trust and or hiring, Dmitriy, to get your 401(k) and checkbook control or your IRA so you can create and preserve more wealth. Please share, review, subscribe to the channel. We sure appreciate you listening and go bless some people today. And with that, we’ll talk to you soon. Goodbye, everybody.
Dmitriy:
Thank you.
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About Dmitriy Fomichenko
Sense Financial was born through a series of conversations Dmitriy had with the real estate investors whom he mentored. While many were highly successful in their real estate investments, the same investors were losing money in their retirement accounts. This prompted Dmitriy to spend several months researching two powerful retirement options, the Self Directed IRA and Solo 401k. He integrated the knowledge and experience gained from his years of experience along with his newly acquired expertise in Self Directed IRAs and began consulting individual investors to put more thought and diligence into their investment planning.
Dmitriy founded Sense Financial Services to help his clients maximize their returns on investments while protecting their hard-earned money. He is very passionate about helping families and individuals achieve financial freedom by following proven Biblical principles of financial planning and investing.
