I want to start a Self-Directed Solo 401k

I have registered an LLC and doing some part time work. I want to start a Self-Directed Solo 401Kaccount.

My main objectives while accumulating the balance is:

1.)    Take a Solo 401k loan at some point

Answer: The Solo 401k that we offer allows for Solo 401k participant loan; therefore, you have option to borrow 50% of your Solo 401k balance not to exceed $50,000. You can learn more about Solo 401k loan feature by reading our Solo 401k Facts blog posting.

2.) Invest my funds in stocks and funds.

3.) Invest in alternative investments like precious metals and real estate.

Answer: The Solo 401k that we offer allows for investing in both equities (stocks and mutual funds) as well as alternative investments such as precious metals, real estate, trust deeds, tax liens, private company shares, etc.

Appreciate your response on these queries before I proceed to open Solo 401k.

1.) Could you please provide me the full fee structure for your services…

…Standard fees and also any specific fees in order to maintain the account in compliance and fees like loan processing.

Answer: We are a very competitive Solo 401k provider regarding fees. Unlike most Solo 401k providers, we fully disclose our fees on the pricing page of our website.  Our Solo 401k pricing consist of following:

Option 1 = $395 firs year; then $195 a year going forward commencing on the account anniversary date.

Option 2 = $595 firs year; then $125 a year going forward commencing on the account anniversary date.
Only difference between option 1 and option 2 is in pricing. In other words, we provide full service under both options which are listed on our pricing page of our website. Here’s the link to our pricing page.
https://www.mysolo401k.net/Pricing.html

2.) I use scottrade optionsfirst and optionshouse for trading stocks and options.

With my Solo 401k account will I be able to open an account at one of these institutions and trade?

Answer: Yes we have the necessary forms to open brokerage account at Scottrade for trading equities and options. We can call Optionshouse together if you would like and speak to their trading desk to find out if they will open options account for a Solo 401k.

We also have the necessary forms to open brokerage account with checkbook control at Fidelity, TD Ameritrade and Schwab. You can learn more about brokerage account feature at each of these brokerage firms by visiting following blogs:

Fidelity:

https://www.mysolo401k.net/Blog-for-MySolo401k.html?entry=using-mysolo401k-net-plan-document

Schwab:

https://www.mysolo401k.net/Blog-for-MySolo401k.html?entry=consider-self-directed-solo-401k

Ameritrade:

https://www.mysolo401k.net/Blog-for-MySolo401k.html?entry=how-about-a-self-directed

Appreciate your time and help.

Thanks & Regards,

Kiran

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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