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How Does a Solo 401k Plan Help Small Businesses?

How Does a Solo 401k Plan Help Small Businesses?

If you are a freelancer, an independent contractor, an entrepreneur, or any other type of self-employed individual, you may be wondering what the best type of retirement plan is for you. After all, it’s just you involved in the business; you don’t have access to the huge funds and resources that enable large companies to provide enticing 401k plan options.

Luckily, there is a solution designed specifically for the visionary who operates as the sole employee and the employer in his or her small business: The Solo 401k.

Why Should I Open a Solo 401k?

There are three main reasons why a self-employed individual may elect to open a Solo 401k:

What Should I Consider when Selecting a Solo 401k Plan?

You’ll want to weigh a number of factors when selecting your Solo 401k plan including:

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