Solo 401k is one of the retirement investment plan specially made for business owners with no full time workers in it. Unlike other retirement plans, this plan allows both the employers and employees to make contribution towards their retirement age. It is slightly differ from other 401k retirement plans since this plan does not follow the basic rules of Employee Retirement Income Security Act (ERISA). For more details, visit Two Types of Solo 401k Retirement Plan The Solo 401k is divided into two types based on the documents required to open an account. They are: 1. Brokerage Based Solo 401k plan - The plan documents of brokerage based solo 401k type generally limit the available investment options. The assets include stocks and mutual funds only available to invest. 2. Self-directed Solo 401k plan - It is otherwise known as Checkbook Control Solo 401k allows investors to invest in multiple assets at the same time. This investor’s preferred plan has various investment op...
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)