All Forum Posts by: Bruce M.
Bruce M. has started 12 posts and replied 73 times.
Post: Looking for Reputable Solo 401k Providers
- Canyon Lake, TX
- Posts 74
- Votes 3
Originally posted by @Jeff Boyle:
Mark is a very patient guy and loves to educate individuals on the process. You were very aggressive and it sounded like you only wanted to get into the business of offering solo 401k plans instead of researching if you qualified. Mark politely told you that he cannot mentor you on the solo 401k provider business. In sum, Mysolo401k would gladly continue to educate you on the solo 401k rules and regulations just not on how to get into the business of being a solo 401k provider which takes years of experience.
By attempting to defend his actions, you have confirmed his actions for all to see. Polite? BS, he was down right rude and dismissive.
Post: Looking for Reputable Solo 401k Providers
- Canyon Lake, TX
- Posts 74
- Votes 3
Dmitriy,
I agree, you can switch, but you are essentially starting over and need to pay that upfront creation cost.
Post: Looking for Reputable Solo 401k Providers
- Canyon Lake, TX
- Posts 74
- Votes 3
I have decided to move ahead with pgiselfdirected.
http://www.pgiselfdirected.com/
I'm interested in anyone's feedback on pgi self directed. I found one or two references on biggerpockets that led me there.
Post: Looking for Reputable Solo 401k Providers
- Canyon Lake, TX
- Posts 74
- Votes 3
Consider it a warning, you can act on it or not.
Post: Looking for Reputable Solo 401k Providers
- Canyon Lake, TX
- Posts 74
- Votes 3
Originally posted by @David Beard:
I asked quite a few questions on the front end about their company. They are staffed by extremely experienced attorneys and assistants who have many years experience with all types of retirement plans.
I had been asking Mark questions via email and then he suddenly refused to answer any more until we spoke on the phone. So I called him. I asked him a question for which he clearly either did not know the answer or was trying to conceal the truth, as he tried to bluff his way through it. I pressed him further on it and rather than admit he did not know or the truth, he became defensive. If this is how he treats a potential new clients, It could be grim once you became captive as a 401(k) customer. And as has been discussed and confirmed above, you do essentially become captive to which ever facilitator you select.
No way could I consider working with him.
Post: Looking for Reputable Solo 401k Providers
- Canyon Lake, TX
- Posts 74
- Votes 3
David, how do you know they have attorneys....rather than just a one man shop?
Post: Looking for Reputable Solo 401k Providers
- Canyon Lake, TX
- Posts 74
- Votes 3
Originally posted by @Tyler H.:
Why Dmitriy? What is your experience/learnings? Do you have previous dealings with other facilitators to make a comparison?
Post: Looking for Reputable Solo 401k Providers
- Canyon Lake, TX
- Posts 74
- Votes 3
Anyone?
Post: Looking for Reputable Solo 401k Providers
- Canyon Lake, TX
- Posts 74
- Votes 3
Hello, I thought I would resurrect this old thread and re-ask the question of the original poster.
I'm looking for recommendations for Self-Directed Solo Checkbook 401K facilitators. Where a "facilitator" just sets up the 401K and provides the required 401K document/agreement updates as needed. Otherwise they are out of the picture.
I have searched the web and this forum and have found a handful of such facilitators, but it is difficult to know who is good or not. The setup fees and annual fees are varied. The best I have seen is about ~$500 for setup and ~$100/year. It seems important to pick one that will be around tomorrow otherwise one would need to start over with another company an incur the setup fees all over again.
Also, has any one used a Solo 401K for a C-corp?
Post: Does anyone use a Checkbook IRA LLC?
- Canyon Lake, TX
- Posts 74
- Votes 3
Originally posted by @Steven Hamilton II:
How is it better than a Self-Directed SEP Checkbook IRA?