Self-directed Solo 401 k plan: Become a Plan Trustee
The Solo 401k plan can be managed by a fund manager or custodian, just like a traditional retirement plan. In fact, many plan providers only offer this option. What many plan owners are not aware of is that the self-directed Solo 401 k plan is also available. With this structure, the plan is directed and managed by the plan owner, without any custodian involved in the process. The question is, why should a plan owner acts as a plan trustee instead of leaving the task to a custodian.
In this Solo 401k Quick Tip video, we discuss the possibilities that a plan owner of a self-directed Solo 401 k plan can explore. From the ability to tailor their portfolio to the cost savings, the self-directing option of a Solo 401k plan can be a very powerful investment tool.
Watch this video to learn how and why you should take control of your retirement future with a self directed Solo 401 k plan.
Self-directed Solo 401 k Plan: Become a Trustee of Your Retirement Plan
The Solo 401k plan can be administered and managed by custodians. So why should you self-direct your Solo 401k? The reason is that no one cares more about your retirement future than you do.
Self-directing means you can choose the types of investment that best fit your risk tolerance and financial goals. Truly self-directed option also comes with the checkbook-control. You will be able to decide where to keep your funds and have direct access to the funds at any time.
Custodians charge transaction fees and asset-based fees. With a truly self-directed Solo 401 k plan, you as the trustee have full control over plan assets and are able to eliminate fees associated with a custodian.