A Solo 401(k) offers many of the same benefits as a self-directed IRA, but with other unique 401(k) benefits and features. If you have at least some self-employed income, you won’t want to overlook this retirement platform.
Solo 401(k)s are especially popular with professionals who have the insight to invest and grow their own retirement savings in a variety of alternative assets. Below is a collection of resources and tools to help you decide if a Solo 401(k) is right for you.
Solo 401(k) Educational Articles
A Solo 401(k) provides a great basic retirement plan for many people. Learn how to set up an Ultimate Solo 401(k) with Broad Financial.
Are you considering saving for your retirement? Read about the pros and cons of a 401(k) plan.
Your Solo 401(k) is a powerful investment tool especially because of it’s ease-of-use, but that doesn’t mean it’s totally free from necessary maintenance tasks. Here’s a look at some annual maintenance your Solo 401(k) needs.
Solo 401(k) programs are constantly being monitored, updated, and amended. Though fairly straightforward, it’s important to keep abreast of Solo 401(k) amendments.
Your Ultimate Solo 401(k) is a powerful investment tool, but there are some restrictions. Know the five common mistakes investors make with their Solo 401(k) plans.
Since the 1930s, people have recognized the importance of investing and saving for retirement. The history of the Solo 401(k) can help you understand how this important retirement planning and savings concept evolved.
Solo 401(k) FAQs
Here are a few of the questions we are most commonly asked about Solo 401(k)s:
- What is a Solo 401(k)?
- Can I roll my current IRA into a Solo 401(k)?
- How do I borrow money from my Solo 401(k)?
- When and how do I file a 5500-EZ form for a Solo 401(k)?
Solo 401(k) Tools
Here are a few resources to help you make the most out of your Solo 401(k).
- Solo 401(k) Contribution Calculator—There is no one-size-fits-all answer for how much anyone can contribute to a Solo 401(k). Use this tool to determine your contribution limit for each year.
- Solo 401(k) Loan Calculator—Investors can borrow up to $50,000 from their Solo 401(k)s—for any purpose. Use this calculator to plan a payment schedule based on the loan amount, interest rate, and duration of the loan.