Speak with a Broad specialist:
(800) 395-5200Schedule a CallOpen an Account
Speak with a Broad specialist:
(800) 395-5200Schedule a CallOpen an Account

Solo 401(k)

Are you self-employed? A Solo(k) is a robust investment account that lets self-employed individuals place their funds in almost any retirement asset. Discover how a Solo(k) can help you maximize your retirement savings.

The Ultimate Self Employed 401(k)

A self-employed 401(k) is an investment option that helps the self-employed individual save for retirement. This type of plan may also be called an individual 401(k), solo 401(k), solo k, or uni-k. Self-employed 401(k) plans are available as both Traditional and Roth IRAs. Is a Self-Employed 401(k) Right for Me? A self-employed 401(k) is a […]
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June 6, 2022

Taking a Loan from Your Solo 401(K)

Here’s what you need to know about taking a loan from your Solo 401k: How much am I allowed to borrow? You may borrow up to 50% of the total amount in the Solo 401(k), with a maximum cap of $50,000. Are there any restrictions on the borrowed funds? There are no restrictions on the […]
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March 30, 2022

Solo 401(k) – Basics

The Process Here’s what happens when you set up a self-directed Solo 401(k): Broad Financial creates a customized IRS-approved Solo 401(k) Plan for you. The Plan contains a Trust, which appoints you as the sole Trustee of your Solo 401(k) Plan. As Trustee, you open a checking account in the name of the Trust at the […]
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March 30, 2022

Using a 401k to Plan for Your Future

Saving money for retirement can often be intimidating, and many Americans fall short of their retirement goals. Often, this is because the process can be a bit intimidating. There are many ways people can save up money for their retirement, from stocks and bonds investments, to CDs and mutual funds. A 401k is an excellent […]
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March 30, 2022

Can I Rollover my Current IRA into a Solo 401(K)

Rolling an IRA into a 401(k): Is this possible? For some reason, this is one of those questions that has people confused even though the answer is fairly simple. In short, you can definitely rollover an IRA into a Self-Directed Solo 401(k). The reason for this is that the Solo 401(k) is an IRS-approved Qualified […]
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March 30, 2022

What is a Solo 401(K)

Before we answer the question “what is a Solo 401(k)”, let’s first discuss the structure of a standard 401(k). The Standard 401(k) Plan A 401(k) is a retirement plan (based on a section of the Internal Revenue Code) which allows an individual to dedicate income towards retirement. When the funds are designated as such, they […]
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March 30, 2022

Solo 401(K) Amendments

The Myth One of the oddly persistent myths in the self-directed arena comes in two versions: Solo 401(k) plans do not need to be updated with amendments. Solo 401(k) plans do need to be updated with amendments but they are infrequent. While it is unclear how these myths got started, what is clear is that […]
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March 30, 2022

Annual Maintenance for Your Solo 401(k)

Your Solo 401(k) is a powerful investment tool especially because of it’s ease-of-use, but that doesn’t mean it’s totally free from necessary maintenance tasks. Here’s a look at some annual maintenance your account still needs. (Please click HERE for this year’s contribution limits.) Annual Contributions – the annual Solo 401(k) contribution limit is currently $66,000 (or $73,500 […]
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Address:
One Paragon Drive
Suite 270
Montvale, NJ 07645

Phone: (800) 395-5200

Mondays – Thursdays: 8:00 am – 6:00 pm EST
Fridays – 10:00 am – 4:00 pm EST

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