Solo 401k

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 […]

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 […]

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 […]

Contributions to IRAs and Roth IRAs are aggregated. This means that you cannot contribute $6,000 to each type (i.e., traditional and Roth IRA); however, you can contribute some to each up to the $6,000 combined limit. If you are aged 50 or older in 2019, your IRA contribution increases to $7,000. TRADITIONAL IRA CONTRIBUTIONS: While […]

Contributions to IRAs and Roth IRAs are aggregated. This means that you cannot contribute $5,500 to each type (i.e., traditional and Roth IRA); however, you can contribute some to each up to the $5,500 combined limit. If you are aged 50 or older in 2018, your IRA contribution increases to $6,500. TRADITIONAL IRA CONTRIBUTIONS: While […]

QUESTIONS: Hi – I was looking at self directed retirements plans &  reviewing your plans. Q 1: I am curious can a solo 401k be my lender on an investment property, allowing me to pay the interest to my 401k? Q 2: Or can they come in after i have bought to find the mortgaged […]

QUESTION: Can I take a short term loan out of my Solo 401K? I want to take 5K out for 1 week and put it back. ANSWER: While the minimum solo 401k participant loan amount is $1,000, the rules do allow for early payoff of the loan with no pre-payment penalties. If you’re trying to […]

QUESTION: I have an opportunity to invest in a car wash in CA. I will be partnering with a local, experienced car wash operator who will be responsible for the car wash operations. My role is to provide equity and oversight. My goal is to participate in the revenue upside. My understanding is that Business […]