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Message
Self directed solo 401k recommendation
Posted on 4/30/24 at 8:39 pm
Posted on 4/30/24 at 8:39 pm
What's the board's recommendation on a company to open up a self directed non prototype solo401k with?
I am looking to mainly do an after tax mega back door ROTH with index funds. Will possibly do some crypto investing and maybe rentals in the future with the account.
I am looking to mainly do an after tax mega back door ROTH with index funds. Will possibly do some crypto investing and maybe rentals in the future with the account.
6
Posted on 4/30/24 at 10:08 pm to tiger61
here, this is who i use for my QRP/solo 401k trust. get documents drawn up and they will provide a EIN, and take to a bank and open a checking account. That way you have checkbook control to invest in what you want when you want.
adam bergman is the owner. great guy
LINK
adam bergman is the owner. great guy
LINK
This post was edited on 4/30/24 at 10:11 pm
Posted on 5/1/24 at 5:57 am to tiger61
I used Fidelity when I had a solo k.
It was fairly straightforward.
It was fairly straightforward.
Posted on 5/1/24 at 6:50 am to Fat Bastard
Nobody wants your checkbook 401k Fat Bastard. 
Dude just wants some index funds.
Dude just wants some index funds.
Posted on 5/1/24 at 8:21 am to tiger61
Look at Vanguard to see if they have what you're looking for.
Posted on 5/1/24 at 8:50 am to tiger61
This is who I use for the same thing: Solo401k
They have a little form you fill out in January to determine how much you converted and then they email and mail you the 1099-R for the conversion.
I use Schwab, but I don't think they care who you use as the custodian of the assets so if you're with Fidelity, Vanguard, etc. you'd just open a QRP account.
They have a little form you fill out in January to determine how much you converted and then they email and mail you the 1099-R for the conversion.
I use Schwab, but I don't think they care who you use as the custodian of the assets so if you're with Fidelity, Vanguard, etc. you'd just open a QRP account.
Posted on 5/1/24 at 11:57 am to tiger61
Vanguard, Fidelity, and Schwab are the answers to this. Pick one you like. All are low cost.
Posted on 5/1/24 at 1:05 pm to slackster
quote:
Nobody wants your checkbook 401k
nobody asked you dipshit. LOL
they do if they want full control. best type to have dumbass.
quote:
Dude just wants some index funds.
you cannot read can you? see below.
quote:
Will possibly do some crypto investing and maybe rentals in the future with the account.
that does not sound like just index funds to me. if he opens a brokerage sponsored solo401k he will be limited.
you cannot be this dumb.
This post was edited on 5/1/24 at 1:26 pm
Posted on 5/1/24 at 1:07 pm to Auburn80
Vanguard is dumping their SOLO 401k. It is moving over to Ascensus.
Posted on 5/1/24 at 1:10 pm to tiger61
quote:
tiger61
also if you want a roth sub account built in mine has that as well. you can have a checking account for the 401k and one for the roth. or you can control monies of each on a ledger all in one checking account. these brokerages(if you set up account with them) will not let you invest in anything other than what they offer for a reason. depends what you want.
open a checkbook control solo401k and you can then invest in a brokerage account with some of your money with SCHWAB, etc. then use other portions if you want to buy RE, etc. This way you are not all tied up with a BROKERAGE offered solo401k.
This post was edited on 5/1/24 at 1:13 pm
Posted on 5/1/24 at 1:16 pm to Auburn80
As far as I know, Schwab doesn't offer an after-tax bucket.
Posted on 5/1/24 at 1:35 pm to Fat Bastard
quote:
that does not sound like just index funds to me. if he opens a brokerage sponsored solo401k he will be limited. you cannot be this dumb.
There is no need to pay $1,000 in set up costs and $400 per year for something he may do in the future. He can always revisit that if/when the time comes that he’d like to make those investments.
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