The Solo 401(k) - A Brief Highlight
Here is another fantastic and exciting retirement plan, the Solo 401(k)
Simply put a solo 401(k) is a retirement plan for self employed people.
Contribution limits of $46,000.00 ($15,500 as employee, and 25% of compensation as employer up to $30,500.
Additional $5000 contribution catch-up for anyone over age 50
Can invest in stocks, bond, mutual funds, real property, raw land, real estate options, tax liens, debt, promissory notes, entities, livestock, and more.
Can have checkbook control over the investments
Can self manage the plan without a custodian
Requirements:
Self Employment Activity
Cannot employ others
Comments (4)
Other than amounts and contribution limitations, how else does a self directed solo 401K differ from a SD-IRA.
Jon Klaus, almost 16 years ago
Don, where is a good resource on the solo defined benefit pension plan? You should do a blog post on it!
Kevin Kaczmarek, almost 16 years ago
Even more powerful is the solo defined benefit pension plan!
Don Konipol, almost 16 years ago
The great thing is they can grow quickly and also be self directed.
Account Closed, almost 16 years ago