Solo 401k

[Kevin Kaczmarek]

I posed this question in one of the groups, and wanted to get insight from the BP community as a whole to see what experiences people have had investing with a Solo 401k. Being able to contribute $46,000 to a retirement plan that allows you the flexibility of investment vehicles is exciting.

[George Blower]

Yes the solo 401k plan does have many great benefits, such as the following:

• The solo 401k allows for checkbook control from the onset;
• The solo 401k allows for personal loan known as a solo 401k loan;
• The Solo 401k may be invested in life insurance, bitcoin, real estate, notes, tax liens, etc.;
• The solo 401k allows for high contribution amount (for 2017, the solo 401k contribution limit is $54,000); and
• The solo 401k business owner can serve as trustee of the solo 401k.