If you are looking to gain the best of both worlds—that is, have the option to trade equities and make alternative investments such as real estate, precious metals, promissory notes, tax liens, private shares—then a Solo 401k using the E Trade brokerage platform from MySolo401k.net may be just what you have been looking for.
Commonly referred to as the E-Trade Self-Directed Solo 401k because E-Trade is simply providing a brokerage account for your Solo 401k, which you establish through MySolo401k.net as yourSolo 401k provider, the Solo 401k arrangement is possible because E-Trade is not serving as your Solo 401k provider, custodian, trustee or administrator. Instead, E-Trade is simply providing brokerage account for your Solo 401k. When you open Solo 401k with us, we will provide you all the required Solo 401k Trust documents along with the necessary E-TRADE brokerage account forms, which we will assist you in completing.
E-TRADE Solo 401k Checkbook
Moreover, the E-Trade brokerage account comes with checkbook control, hence why we refer to it as E-TRADE Solo 401k checkbook control. Therefore, you can process your alternative investment purchases (e.g., real estate, promissory notes, tax liens, private shares, etc.) by simply writing a check. As the “Trustee” of the Solo 401k, you will safe-keep the alternative investments, not E-Trade; however, you will still have option place stock and mutual fund trades through the E-Trade brokerage account.
E-TRADE Solo 401k Loan Option
Since our Solo 401k plan document contains Solo 401k loan option, you will have option to process Solo 401k loan from your Solo 401k E-TRADE brokerage account. The Solo 401k loan is administered by you as the trustee of the Solo 401k, not E-TRADE, along with our assistance. More specifically, we will prepare your Solo 401k loan documents so that the Solo 401k is in writing as required by the regulations. Therefore, you may borrow from your Solo 401k, for any purpose, up to 50% of the balance not to exceed $50,000.