How do you open a Individual 401K and who has the best rates

Buying & Selling Real Estate
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How do you open a Individual 401K and who has the best rates

Jordan L.
Real Estate Investor · Coconut Creek, FL · Member since 2013 · 97 posts · 35 votes

I am looking into opening a individual 401K, please tell me your experience and the process. I am currently employed, can I still open an indivdual 401K if I am employed. Can I open one up under my business name?

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  • Steven Hamilton IIPro Member
    Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
    13y
    Originally posted by Jordan Lives:
    I am looking into opening a individual 401K, please tell me your experience and the process. I am currently employed, can I still open an indivdual 401K if I am employed. Can I open one up under my business name?

    @Jordan L. ,

    Of course you can open one; however, you must have SOME type of self employment. That could be as simple as a Mary Kay, Avon or sports officiating business.

    [email protected]224-381-2660
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  • Steven Hamilton IIPro Member
    Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
    13y

    Rates, will depend upon the investments each institution offers. Consider looking at large companies such as Fidelity, Vanuard, etc(the big financial names).

    -Steven

    [email protected]224-381-2660
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