Small business owner or self-employed individuals without any employees other than a spouse should consider the advantages of a Solo 401(k) plan. You maybe an investor familiar with IRAs – traditional or ROTH, but you may not be aware of this great option; the Solo 401(k). Forming and administering a Solo 401(k) easy and cost effective. You can be the Trustee of your own plan and making investments is as simple as investing with a Checkbook IRA. As Trustee, you write a check for the plan’s next investment!
6 Advantages of a Solo(k) over any IRA
- Can make ROTH contributions
- Increased annual contributions
- No UBIT on leveraged Real Estate
- No Custodian required
- Can invest in Life Insurance and “S” Corporation stock
- Borrow 50% of the 401(k)’s value up to $50,000
As you can see, the Solo 401(k) has many advantages over a self-directed IRA. We can get you started making the investments of your choosing in three easy steps!
- Create the new Solo 401(k) plan
- Establish a bank account in your new plan’s name
- Fund the plan’s new checking account via rollover or new contribution
Call us today, 800.475.1031, to see whether a Solo 401(k) is right for you.
