Open self-directed 401k while still employed full-time

October 16, 2014 | By Mark Nolan

QUESTION: While I’m self-employed, I also work for a company. Am I still eligible to open a self-directed 401k?

ANSWER: Yes click here to read example published by the IRS regarding contributing to multiple retirement plans (i.e., a self-directed 401k for the self-employed and a day job 401k plan). The key is not to exceed the annual contribution limits when contributing to multiple retirement plans.

Thanks,

Pete in Oklahoma

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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