Is a solo 401k worth it? The flexibility around solo 401(k) contributions, investment options, and relatively low management requirements makes the plan an attractive alternative for small business owners or sole proprietors who want to save for retirement proactively. ...
Although solo 401(k) plans can be somewhat more complex to manage than other types of investments, the value they provide in the flexibility of features and the ability to build up tax-advantaged savings can make them more than worth the effort required to set up and manage....
I am pulling about $85,000 in salary and the corporation has about $150,000 worth of profit. I raised the question of a SEP IRA and again was pushed towards the 401K, which brings with it a $4,000 setup fee as well as an annual fee of about $1200. All run through the ...
$18,000 is the elective deferral contribution limit from all plans that you participate in: If you have a 401(k) with another job, you can still contribute to a Self-Directed Solo 401(k), but the total personal contributions to all plans may not exceed $18,000. A common strategy is ...
A solo 401(k) is definitely worth considering, especially if you don’t have any employees and you’d like to set aside a lot ofcash for retirement. But if you don’t think it’s the right fit for you, there are plenty of other options out there. Focus ...