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6 Replies Last post: Jun 24, 2008 9:46 AM by calbear81

Solo 401K

Oct 11, 2007 12:38 PM

Brooks 1 posts since
Oct 10, 2007

I am looking for someone / commpany that runs a "solo 401K" program.

Does anyone have a good experince or referral that they can share?

Thanks

Tags: 401k, solo, solo_401k, retirement_planning Report as inappropriate

Lighthouse24 2,382 posts since
Oct 10, 2007

1. Re: Solo 401K Oct 13, 2007 12:39 PM

I've had mine with Fidelity and with ING. Both of them fully met my expectations in terms of services, fees, and performance. Both provide excellent on-line access and management tools. I felt that I received a little better personal attention from ING on the two occasions when I needed it (but that's a case of ING exceeding my expectations, not Fidelity falling short).

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GasisaRipoff 18 posts since
Oct 10, 2007

2. Re: Solo 401K Oct 15, 2007 6:18 PM

For a conservative investing group that has done well in the ups and downs of the market, I usually recommend http://www.troweprice.com/individual401k It is a low-cost option, but as with this one or any other solo 401K, if you have or are planning to add (non-spouse) employees later, then you need to look elsewhere.

They have a great analysis and tax implications breakdown and forms on the web page.

James J Moore, AIC, MBA, ChFC, ARM
http://www.cutcompcosts.com

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cltsig 1 posts since
Oct 16, 2007

3. Re: Solo 401K Oct 16, 2007 2:28 PM

I have mine with Fidelity too. I'm an s-corp and I believe it can only be utilized by those with an ownership stake in the company. If you hire employees, you will need to convert to a regular (read: high overhead) 401k plan. Plus, Fidelity reps are really helpful with the setup, questions, etc.

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Techie 46 posts since
Jul 29, 2007

4. Re: Solo 401K Oct 16, 2007 10:01 PM

This is great information everyone. Thank you for contributing.

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Bridge 355 posts since
Jun 3, 2008

5. Re: Solo 401K Jun 3, 2008 6:53 PM

I use Charles Schwab for my company 401K. Generally both you and your spouse can contribut to it. Be careful, there are about 6 types of small business 401Ks each with their own pluesses and minusses. Check out the Fidelity and Charles S. sites for futher detial.

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calbear81 3 posts since
Jun 24, 2008

6. Re: Solo 401K Jun 24, 2008 9:46 AM

Did you think about a SEP? Simplified Employee Pension Plan. See us at www.securefloridian.com

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This Question is Answered

Solo 401K

Oct 11, 2007 12:38 PM

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