Solo 401k or SEP IRA?
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Hey Fishes
Can anyone share Mutual Fund schemes in their Portfolio?
I am a newbie and planning to start investing via SIP's in MF ( Around 4-5 SIP's of 10k each)
Thanks in advance.
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I’m setup as an SCorp and have a solo 401k. There are quite a few articles outlining the differences between each- here’s one in case it helps https://www.whitecoatinvestor.com/sep-ira-vs-solo-401k/
We’re doing SEP but also organized as an s-corp.
I’m going with Solo. I did it with the help of Nabers group Solo401k (they are not the bank but help you set up yourself as trust etc) and facilitate your options. lots of flexibility, the have a lot training videos and seminars also got on phone with me. As I was overwhelmed.
There is paperwork and it takes a bit of understanding. You can boil it down to its most simple set up with a brokerage a account and ignore it. Or you can build on it, borrrow against (you are paying yourself the interest) invest in Real estate, Bitcoin etc..one thing I learned is that I can roll my 401k from previous employer into a solo account, and the Roth portion will transfer to a new Roth account but the Roth history (years invested) will transfer with it. Important because of the Roth 5 year rule.
Coach
Solo i401k
Solo Yolo.