Broker Check
Solo 401 (k)

Solo 401 (k)

The ideal retirement strategy for self-employed individuals or small business owners without full-time employees.

What is a Solo 401(k)?

A Solo 401(k), also referred to as a one-participant 401(k), is a retirement plan tailored for self-employed individuals. It operates similarly to an employer-sponsored plan but offers enhanced flexibility. To qualify for this plan, you must meet two conditions: engagement in self-employment and having no full-time employees. With a Solo 401(k), you have the option to contribute both as an employee and as an employer.

A Solo 401(k) may be right for me if...

  • I am an owner of an unincorporated business that employs only me or me and my spouse
  • I am a partner in a partnership that employs only partners or partners and their spouses
  • I am a sole owner of a corporation (or an LLC taxed as a corporation) that employs only me or me and my spouse
  • One of the statements above is true and my business has part-time employees, but none of them have ever worked 1,000 hours in a 12-month period starting with their date of employment
Benefits of A Solo 401 (k)

Benefits of A Solo 401 (k)

Do you have inquiries? We're here to assist you in making informed decisions.

Maximize Larger Contributions

Make annual contributions up to $61,000, or $67,500 if you're older than 50. Make larger contributions than other retirement plans.

Borrow Up To $50,000 From Your Account

Borrow up to $50,000 or 50% of your account value (whichever is less) and use loan proceeds for any purpose.

Huge Alternative Investment Opportunities

Some of the investments you can make with your Solo 401k are: Stocks, Bonds, Mutual Funds, Real Estate, as an example.

Hassle-Free Administration

Easy to operate and administer. There's generally no annual filing requirements unless your account exceeds $250,000 in assets.

Transfer & Rollover Funds

Transfer former employer 401k, and IRA's (SEP, SImple, & Traditional IRA) into a Solo 401k.

Have a Question About Solo 401(k)?

Thank you!