Solo 401(k) plans are self-directed retirement plans designed for small-business owners who have no full-time employees (other than self or spouse). These plans may be self-administered by the business owner, making him or her the “trustee” and thereby eliminating the need to engage a third party to handle administration or investments.
A solo 401(k) plan is a great investment tool that provides a wide range of investment choices, as well as checkbook control, which means you have the decision making power regarding how your funds are invested. These plans also offer other excellent retirement savings features such as high contribution limits, a Roth savings component, and the ability to personally borrow from your plan. The Solo 401k is the best option if you are self-employed and would like to maximize contributions to your retirement plan or take advantage of the loan provision.
Learn more about the power and flexibility provided by the Solo 401(k) plans in this section of our blog, with useful articles to help you make the best decisions for your retirement funds and your financial future.
One of the great things about a Solo 401(k) plan is the high contribution limits. As of 2019, you can set aside up to $62,000 into a Solo 401(k). This allows you to build your retirement savings generously on the…
One of the benefits of the Solo 401(k) is the ability to borrow from the plan. As a qualified employer 401(k), a Solo 401(k) can make a participant loan — just as with any larger employer 401(k) style plan. For…
If you qualified as a self-employed entrepreneur and your business has no full-time employees, the Solo 401(k) is a fantastic self-directed retirement plan option. A Solo 401(k) isn’t really a distinct type of retirement plan. It’s a specific implementation of a qualified…
Building your retirement savings with your self-directed IRA or Solo 401(k) is not just about how you invest. Making new contributions to your retirement plan is a key to creating long term wealth with these tax-sheltered vehicles. As we approach…
![Solo 401(k) Checkup [CHECKLIST]](https://ira123.com/wp-content/uploads/2017/11/calculator-calculation-insurance-finance-53621.jpeg)
Periodically checking up on your Solo 401(k) plan will help ensure that everything is in order. The 5 following items are designed to keep you on track and organized with your retirement plan on an annual basis. Business / Plan…
When your self-directed IRA or Solo 401(k) plan owns investment real estate, you of course want to have insurance to protect your plan from risk. The difference between insurance and the right insurance can be significant, however, so making sure…
![Which Self-Directed Retirement Plan Is Best For Me? Part II [CHECKLIST]](https://ira123.com/wp-content/uploads/2013/02/sign.png)
*This blog post is the second and final article in our two part series. You can read the first article here. Our first article of the series “Which Self-Directed Retirement Plan is Best for Me” addressed overviews of two plans,…
In a recent blog, we talked about foreclosure property investing and offered some tips for purchasing foreclosed properties. One of the keys to investing in foreclosures is the ability to act on decisions immediately, which is why a checkbook IRA…
A 2012 report by McKinsey and Co. found a 14% increase in alternative investments, from $2.9 trillion in total funds invested, to $6.5 trillion in 2011. Alternative investments include self-directed IRAs, in which account holders can invest in a broad…
*This blog post is the first article of a two part series, be sure to check back for the second and final article. There are several types of self-directed IRA, 401(k) and business funding programs available. If you are contemplating…
