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Esmeraldo Manubay

18 November 2015

My Solo 401k set up experience with Justin Windham of Discount Solo401k. Late in September 2015 I decided to set up a Solo 401k instead of a Self-directed IRA for the reason that I could be the Trustee of my own 401k funds, have full control of my investments, a checkbook control under my Trust and among other benefits. Justin was quick to respond to my various emails and calls during the pre-setup stages, clarified and answered all of my questions and doubts, and found him very helpful and decided to go with his services. Also his fee appeared to be lower than the others I talked to. After a week of sending the application form got our bunch of Solo 401k documents from Justin. Next step was to find a bank to open a checking account under our Trust. This process was challenging because the first 2 banks I went to didn't know how to go about it since this was uncommon. The warning was given by Justin on the instruction forms. Decided to do myself at first, made mistakes and learned my lessons in the process which was a good experience overall. We finally opened a checkbook account with Wells Fargo (4th bank visit) after Justin connected me to a Wells Fargo banker from another state who had experience setting up this account. I believe this will be a smooth process for others now. Next step was to request Fidelity to do a direct rollover of my IRA funds and issue a check under our Trust name. Justin answered some of my questions on the fund transfer request and clarified some portions on the Fidelity withdrawal form to make sure that this was a direct rollover to a qualified plan and not a distribution which could expose me to IRS penalties and taxes. Within a week I got my Fidelity rollover check and deposited to our Wells Fargo account which took about 10 days to clear. This November I was able to buy a land and a trust deed note and named them under our Trust (me and my wife are trustees). And since yesterday (11/17/15) me and Justin were exchanging Q&A emails about doing a participant loan to finance our next RE deal and making sure that I'm within IRS guidelines and not violating any rules. This by the way is part of Justin's service and I like the quick response. I love the freedom of having in control of my funds and thank you Justin for your help. Highly recommended.

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