Solo 401(k) FAQs
What is a Solo 401(k)?
A Solo 401(k), also known as an individual 401(k), is a retirement savings plan designed for self-employed individuals and business owners with no full-time employees other than a spouse. It offers high contribution limits and flexibility.
Who qualifies to set up a Solo 401(k)?
Self-employed individuals or business owners with no full-time employees, except for a spouse, qualify to set up a Solo 401(k). This includes sole proprietors, independent contractors, and small business owners.
What are the contribution limits for Solo 401(k)s?
For 2024, the total contribution limit for a Solo 401(k) is $66,000 for individuals under 50, and $73,500 for those aged 50 or older. This includes employee deferrals and employer contributions, which are calculated based on net self-employment income.
Are loans permitted from Solo 401(k)s?
Yes, loans are permitted from a Solo 401(k), subject to plan rules. The loan limit is the lesser of $50,000 or 50% of the account balance, and it must be repaid within five years with interest.
Can a spouse contribute to a Solo 401(k)?
Yes, a spouse can contribute to a Solo 401(k) if they earn income from the business. They can make employee deferrals and receive employer contributions, effectively doubling the total contribution limit for the household.
Recent Articles
- General Dynamics 401(k) Review: 100% Match Up to 6% With $325 Million in Employer Contributions
- June 2026 MyPlanIQ Portfolio Update
- APPLE 401(K) PLAN 401(k) Review: A Match That Rewards Loyalty, Plus Plenty of Investment Options
- Charter Communications 401(k) Review: 100% Match Up to 6% With a 3-Year Vesting Clock
- Google LLC 401(k) Savings Plan Review: A Revealing Look at Their Greater Of Match Structure
- Walmart 401(k) Plan Review: 100% Match on 6% for 1.9 Million Employees
Puzzled on what to invest?
- We ask a few questions to decide your personal return and risk expectations
- We build a custom portfolio for your plan (401(k), 403(b), 529 …) or for a brokerage account
- We monitor and send timely rebalance emails on what investment funds to buy and sell
Looking for ideas to generate income?
- ETF or mutual fund income portfolios for 4-7% annual income
- Dividend stock funds
- Passive real estate investments
- more …
Portfolio Calculator (Simulator)
Customize Asset Allocation Portfolios
Retirement Calculator
Investment Calculator
Looking for a (forgotten) 401(k)?
Find plan contact info, plan expenses, investment options, rollover your old plan, or learn how to select investments on your 401k plan …