All Forum Posts by: Tania Reuben

@Tania Reuben 

What are your reasons to switch plan providers, if your retirement plan is already a solo k? In your original post, you mentioned looking for a manager. Most Custodians/ Administrators of SDIRA's and Solo 401(k) are prohibited from providing investment and tax advice, so you would want to seek out that kind of advice from another professional.

@Tania Reubens a solo 401k has checkbook control, no need for a Custodian (you can put your money at your local bank), if you make a prohibited transaction the account is not blown up - you only pay a 15% penalty on the dollar amount to transaction (not the entire account) and you can borrow up to 50k (just like an employer plan). There are other benefits as well, but these are the biggies. If you want to learn more, there is a book I would recommend you buy. It's written by two experts in investing and a tax attorney. You can find it here... https://assets101.com/shop/solo-401k/. I don't get anything for recommending the book. It's just something I've found to be very helpful.

I absolutely love mine. Can't recommend them enough.

I use Quest Trust. If you're new, they're very helpful in walking you through how everything works. However, I'm probably going to switch to a Checkbook control IRA to save on transaction and administration fees.

@Tania Reubens I set up a solo 401k instead. Way better benefits than the traditional SDIRA setup.

I use Quest Trust. If you're new, they're very helpful in walking you through how everything works. However, I'm probably going to switch to a Checkbook control IRA to save on transaction and administration fees.