The Ultimate Solo 401(k)
Taking the Solo 401(k) to new heights with the power of Self Direction and Checkbook Control.
Designed for Self Employed Individuals
Also known as an Individual 401(k) or Self Employed 401(k), the Ultimate Solo 401(k) is the premier self-directed Solo 401(k) plan. It is a specialized platform for people who work for themselves without any full-time employees. This can be in any capacity or structure: sole proprietor, LLC, partnership, corporation, independent contractor, or individual practitioner.
The Ultimate Solo 401(k) enables you to invest in what you want, when you want. This, in turn, empowers you to utilize your entrepreneurial skills and know-how to take advantage of investment opportunities that will help you diversify your retirement account, maximizing its potential for financial growth and safety.
Maximize Your Contributions
As the most innovative self-directed IRS-approved Solo 401(k) Plan available, the Ultimate Solo 401(k) enables you to maximize your tax deductible contributions (up to $56,500 per year) and to diversify your retirement funds across the broadest possible spectrum.
The no-fee freedom of a Broad Self Directed 401(k) with Checkbook Control makes it the obvious choice with which to pursue your retirement goals. Learn more about getting started.
True Asset Choice. The Ultimate Solo 401(k) enables you to invest your retirement funds directly into all asset classes: real estate, tax liens, small businesses, personal loans, private placements, foreclosures, gold & silver – and all other alternative (i.e. non-Wall Street) investments that are not available through a typical Solo 401(k). Of course, you can continue to invest your retirement funds in all traditional investments (e.g. stocks, bonds, mutual funds, etc.).
Checkbook Control. As the sole Trustee of your Ultimate Solo 401(k), you will set-up a checking account for your Ultimate Solo 401(k) at any bank of your choosing. We guide you through this process, but never have access to your account or your funds. Once your account is set-up, you can begin placing investments – by simply writing a check.
You can borrow up to $50,000
from your Ultimate Solo 401(k), and use it for any purpose – business or otherwise.
Maximum Contributions. You can contribute up to $56,500 a year into your Ultimate Solo 401(k), all tax deductible – double that if your spouse works with you.
Investment Control. The Ultimate Solo 401(k) is the ultimate self-directed Solo 401(k), giving you complete control over your retirement account, enabling you to make all investment decisions – alone, or with the help of a financial professional.
Reduced Costs. Because the Ultimate Solo 401(k) has no need for a custodian, transaction fees and asset-based-holding fees are entirely eliminated – as are processing delays.
Rollover Options. The Ultimate Solo 401(k) can be funded by transferring or rolling-over funds from almost any existing retirement account or plan – IRA, 401k, SEP IRA, Keogh, etc. without incurring any early distribution penalties or taxes, or by making an initial contribution.
Roth Contributions. Up to $17,500 of your annual contributions can be Roth contributions (up to $23,000 if age 50 or older).
How does The Ultimate Solo 401k® work?
Let’s take a look behind the scenes to see how The Ultimate Solo 401(k) actually works:
Plan - Broad creates a customized IRS-approved Solo 401(k) plan just for you.
Trust - The Plan contains a Trust which appoints you as the sole Trustee, thereby empowering you to make all investment decisions.
Checking Account - You then open a checking account at the bank of your choosing in the name of the Trust. This checking account will serve as your self-directed investing platform.
Rollover/Funding - Fund your Solo 401k by transferring funds from a previous retirement account without incurring any early distribution penalties or taxes. Or you can make an initial contribution.
Investing - Begin investing by simply writing a check.
How easy is it to set up The Ultimate Solo 401(k)?
The Broad process for establishing a Solo 401(k) has been crafted with only one consideration: you. As a company whose defining hallmark is industry-leading customer service, we’ve worked hard to make sure that your experience is smooth and hassle-free. Our team of accountants, self-directed specialists, and attorneys is dedicated to giving you a complete package. We’ll hold your hand the entire way, and we’re always available for any questions you may have. And don't worry about getting stuck. If at some point in the future you decide that the plan is not for you, just return the binder and we'll take care of the rest. There are never any cancellation charges or surrender fees.
Author: Ben Michaels