Although solo 401(k) plans can be somewhat more complex to manage than other types of investments, the value they provide in the flexibility of features and the ability to build up tax-advantaged savings can make them more than worth the effort required to set up and manage...
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$18,000 is the elective deferral contribution limit from all plans that you participate in: If you have a 401(k) with another job, you can still contribute to a Self-Directed Solo 401(k), but the total personal contributions to all plans may not exceed $18,000. A common strategy is ...
Solo 401(k)s require more paperwork than other types of retirement plans for the self-employed. They also share contribution limits with any other 401(k) plan you may have access to. That means they often aren’t worth the trouble if you have a day job that also offers a 401(k). Op...