Solo 401k

Invest solo 401k in Cd’s on pre-tax basis

October 16, 2014 | By Mark Nolan

QUESTION: Hi, I am interested in setting up a solo 401k.  I am very new to this concept.  All I want is to be able to contribute more to a retirement account such as a cd on a pre-tax basis.  I will not be investing in real estate, precious metals etc.  Does your service allow for this kind of simple investing?  Can I find any kind of cd at a bank or do they need to be specific types of cd’s for 401k?

ANSWER: Yes our solo 401k allows for “simple investing”, so any cd’s and money market accounts may be used.

Thanks,

Ana in Illinois

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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