Solo 401k

Study Confirms Americans Happy with 401k Plans

A recent study by the Investment Company Institute confirms Americans are happy with their 401k plans due to flexibility and control. While the report does not specifically reference solo 401k plans, a solo 401k is a 401k but for the self-employed and I can tell you that our clients like their solo 401k plans because […]

Solo 401k Reporting Hinges On Certain Factors

Reporting for the solo 401k plan hinges on the factors listed bellow. Please review and let me know if you fall under any of these. Question:  When do I need to make my Solo 401(k) Contributions? Answer:  Contributions to a Solo 401k plan must be made by your business tax return due date or any […]

Use Fidelity Investments for The Mega Back Door Roth Roth Solo 401k

While Fidelity Investments does not offer a solo 401k that allows for voluntary after-tax contributions, which is the first step in implementing the “mega back door Roth solo 401k strategy, “Fidelity does offer a custodial brokerage account to hold the voluntary after-tax solo 401k funds for a solo 401k plan provided by a solo 401k […]

Who is Not Required to Take a 2019 RMD by December 31?

While most solo 401k owners who are 70 ½ or older will need to take a 2019 required minimum distribution (RMD) by December 31, 2019. However, that deadline does not apply to all solo 401k owners. Solo 401k owners who are age 70 ½ or over are not required to be take an RMD from their solo 401k by […]

Investing a Self-Directed IRA in Notes Vs Investing a Solo 401k Plan in Notes

After physical real estate, investing retirement funds such as self-directed IRA and solo 401k funds in promissory notes secured by real estate (also known as trust deeds) is quite popular. Investing in notes is especially attractive for those not looking to contend with the challenges that can arise with real estate. Challenges from making sure […]

For Third Quarter of 2018 Retirement Assets Total $29.2 Trillion

According to a report released on December 20, 2018 by the Investment Company Institute (ICI),Retirement Assets Total $29.2 Trillion in Third Quarter. This is an increase of 2.8 percent from the previous quarter. The report goes on to say that retirement funds make up 33% of household financial assets as of the end of September […]

Year End Items for IRAs and Solo 401k Plans

Now that the first year of the Tax Cuts and Jobs Act (TCJA) is almost past us, some IRA and solo 401k items to consider include the following. Contributions While a solo 401k plan will need to be opened by December 31 in order to be able to wait until next year to make solo […]

A solo 401k may be a good way to bridge the gap between minorities saving for retirement

A solo 401k may be a good way to bridge the gap between minorities saving for retirement according to a report by the Center for Retirement Research of Boston College. Here are some findings. The earnings and wealth gaps between whites and minorities are enormous. In 2016, the share of whites at risk in retirement […]

Pretax Solo 401k Vs Roth Solo 401k: Contributions / Distributions

According to the Investment Company Institute, retirement assets totaled $28.3 Trillion in the second quarter of 2018, with $7.8 trillion held in defined contribution plans. The solo 401k plan falls under the defined contribution umbrella. One of the many advantages of a solo 401k plan is that it allows for both pretax and Roth solo […]

Solo 401k for the Gig Economy

The gig economy generally is viewed as those workers who are independent from an employer and who work jobs that are intended to be part-time. This environment consists of independent, temporary workers ranging from lawyers, accountants, doctors to construction, transportation and personal service. Many gig economy workers may not be aware that they can participate […]

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    We help our clients take control of their retirement money. Our products and services provide our clients the freedom to invest their retirement savings in their own business as well as alternative investments such as real estate, private companies, promissory notes, precious metals, tax liens and equities.
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