The Solo 401k: Your Premier Retirement Plan for Self-Employed Individuals
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The Solo 401k represents a revolutionary approach to retirement planning specifically designed for the self-employed and small business owners. This powerful individual retirement plan allows you to set the stage for a secure financial future while maximizing your contributions. With features such as high contribution limits, loan provisions, and extensive investment options, the Solo 401k provides unparalleled flexibility and growth potential. Whether you are just starting...
Show moreThe Solo 401k represents a revolutionary approach to retirement planning specifically designed for the self-employed and small business owners. This powerful individual retirement plan allows you to set the stage for a secure financial future while maximizing your contributions. With features such as high contribution limits, loan provisions, and extensive investment options, the Solo 401k provides unparalleled flexibility and growth potential. Whether you are just starting your business or looking to enhance your savings strategy, this plan adapts to your unique financial situation.
One of the standout features of the Solo 401k is its dual contribution ability – both as an employer and employee, greatly increasing your tax-deferred savings. Additionally, participants can open both traditional and Roth accounts under the same plan, providing options for tax flexibility. With minimal administrative requirements, the Solo 401k is designed for ease of use while still offering significant benefits such as contribution matching and rollover options from other retirement accounts. This makes it the ideal solution for those who prioritize their retirement while managing a self-employed career.
Less| manufacturer | Lulu.com |
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| height | 9.01573 |
| weight | 0.54895103238 |
| width | 0.42 |
| length | 5.98424 |
| releaseDate | 2019-02-21T00:00:01Z |
| languages | [ Published Value = English ] [ Original Language Value = English ] [ Unknown Value = English ] |
| productGroup | Book |
A Solo 401k is a retirement plan designed specifically for self-employed individuals and small business owners without employees, allowing for high contribution limits and investment flexibility.
To be eligible, you must be self-employed or a small business owner with no full-time employees other than your spouse.
For 2022, you can contribute up to $58,000, or $64,500 if you're 50 or older, combining employee and employer contributions.
Yes, participants can borrow up to 50% of the vested balance or $50,000, whichever is less.
You can invest in a wide array of assets, including stocks, bonds, real estate, and more.
The Solo 401k has minimal administrative requirements, making it easier to manage compared to other retirement plans.