A Solo 401 (k) offers higher contribution limits than other self-employed retirement accounts. It also requires less effort than a traditional 401 (k). It’s a win-win situation.
Also, depending on the Solo 401 (k) provider, advanced options such as Roth 401 (k) contributions and 401 (k) loans may be available. Let’s take a closer look at how Solo 401 (k) s work and what the best Solo 401 (k) providers have to offer.