157: The Solo 401(k) with Dmitriy Fomichenko




The Real Estate Way to Wealth and Freedom show

Summary: 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 taught hundreds of investment and financial planning seminars and has mentored thousands of investors.<br> <br> Sense Financial Services was inspired by a series of conversations Dmitriy had with his mentors in the real estate investor business.  While many were exceedingly successful in their real estate investments, their retirement accounts were losing money. This conundrum prompted Dmitriy to spend several months consulting with industry experts and researching the powerful concept of employing self-directed retirement accounts for investment purposes. Integrating his knowledge of how to successfully manage self-directed IRAs and 401ks with his expertise as an investor and mentor, Dmitriy began consulting individual investors on how to put more thought and diligence into their retirement and investment planning.<br> <br> 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.<br> <br> Dmitriy resides in Southern California with his wife and 10-year old daughter.  In his spare time, he enjoys studying systematic theology, spending time with his family and visiting new places.<br> <br> Key Points<br> Solo 401(k) - what it is &amp; how to use it<br> Solo 401(k) vs. IRA vs. Employer Sponsored 401(k)<br> Roth vs. Traditional - What is right for you?<br> Lightning Questions<br> What was your biggest hurdle getting started in real estate investing, and how did you overcome it?<br> Dmitriy had no experience nor money. He overcame that by being wise with his personal finances while learning about the world of real estate investing.<br> Do you have a personal habit that contributes to your success?<br> Dmitriy prides himself on his determination. When he sets a goal, he is diligent in reaching it.<br> Do you have an online resource you find valuable?<br> BiggerPockets<br> What book would you recommend to the listeners and why?<br> Cashflow Quadrant by Robert Kiyosaki<br> If you were to give advice to your 20 year old self to  get started in real estate investing, what would it be?<br> Start early, use leverage wisely and continue to build your wealth.<br> Resources<br> Sense Financial<br> <br> Contact Sense Financial and let Dmitriy &amp; the Sense Financial team you heard about them on The Real Estate Way to Wealth and Freedom podcast for a 10% discount!<br> <br>  Visit Audible for a free trail and free audio book download!<br> <br> Contact Jacob