A Schwab Solo 401k brokerage account with checkbook control from MySolo401k.net is ideal for those looking to still have option to invest in equities while also gaining checkbook control over their retirement funds.
A Schwab Solo 401k with checkbook control comes with the following features:
fund Solo 401k alternative investment purchases, e.g., real estate, precious metals, tax liens, promissory notes, private placements, etc. by writing checks from the Solo 401k Schwab brokerage account.
Solo 401k Loan
after we prepare Solo 401k loan documents, process Solo 401k loan directly from the Solo 401k plan Schwab brokerage account.
continue to trade equities and grow your retirement funds tax-deferred, deposit investment gains from your Solo 401k’s alternative investment holdings (e.g., rent check proceeds from real estate) directly into your Solo 401k Schwab brokerage account, and make your annual Solo 401k contributions directly into the brokerage account.
How it works
Charles Schwab is simply providing brokerage account for your Solo 401k, and MySolo401k.net is your Solo 401k provider. In other words, even though Schwab also offers Solo 401k, their Solo 401k plan document restrict you to only investing in stocks and mutual funds; however, by using our Solo 401k document, which allows you to serve as trustee of the Solo 401k and invest in alternative investments such as real estate, precious metals, tax liens, promissory notes, private stock, etc., as well as process Solo 401k Loan, Schwab is not involved in the administration of the Solo 401k.
Documents for Opening Schwab Solo 401k Brokerage Account
To open Schwab Solo 401k with checkbook control, you will need to submit MySolo401k.net Solo 401k plan documents, which we prepare in 24 hours, along with Schwab’s applicable brokerage account forms and checkbook paperwork, which My Solo 401k Financial will complete for you.
Fees Charged by Charles Schwab
Because Schwab is simply holding the funds in a brokerage account under the solo 401k offered by My Solo 401k Financial, the only fees that apply to the Schwab brokerage account are:
Stock trading fees of $4.95; and
outgoing wire fees of $25.00.