Solo 401(k)

What is a Solo 401 (k)?

A Solo(k) is a retirement plan created specifically for self-employed individuals who seek to create retirement savings on a tax-advantaged basis while enjoying full flexibility in funding and a more broad range of investment options. It is a retirement plan created specifically for self-employed individuals.

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)

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)?

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