ForumsLegal and Insurance

Up to All Forums

This Question is Answered

3 "helpful" answers available (4 pts)

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 2,396 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).

Report as inappropriate

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

Report as inappropriate

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.

Report as inappropriate

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.

Report as inappropriate

Bridge 359 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.

Report as inappropriate

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

Report as inappropriate

Bank of America, N.A. Member FDIC. Equal Housing Lender

Bank of America is not responsible for user posts and other user content appearing on this website and does not endorse or guarantee the perspectives, the advice, the users, the businesses, or the products or services sold by any users or businesses that appear on this website.

ForumsLegal and Insurance

This Question is Answered

Solo 401K

Oct 11, 2007 12:38 PM

More Like This

Most Recent Forum Posts

Legend