Ocho exists to help business owners and self-employed individuals gain control of their finances, make smarter money decisions, and build wealth. The editorial staff at Ocho is a team of business and finance professionals. Our content contains zero affiliate links, meaning we don't earn any kickbacks from recommending our partners, in order to provide unbiased advice and product recommendations.

Solo 401k +2 401k Retirement
September 25, 2023
Is a 401k or Solo 401k a Profit Sharing Plan?

Also known as a deferred profit-sharing plan (DPSP), a profit-sharing plan is a retirement plan that gives employees a share in the profits of the company on a quarterly or annual basis. Contributions to a profit-sharing plan are tied to a company’s profits, rather than an employee’s contribution. Employees receive a percentage of the company […]

Solo 401k
September 22, 2023
Are Solo 401k Assets Protected in Bankruptcy?

Yes, solo 401k assets are protected from creditors during bankruptcy. If you were to file for bankruptcy, whether in Chapter 7 or 13, your solo 401k assets have unlimited protection under federal law. In 2005, The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) was passed that excluded tax-qualified retirement plans (like a […]

Solo 401k
September 21, 2023
How to Invest in Startups With Your Solo 401k

One of the most attractive features of a solo 401k is the ability to invest in virtually any asset class. Instead of being limited to just investing in traditional assets like stocks, bonds, and ETFs, you can invest your plan in alternative investments like crypto, real estate, and startups. Investing in startups through a solo […]

business entities solo 401k
Solo 401k
September 04, 2023
What Business Entities Can Open A Solo 401k?

OVERVIEW Considering starting a solo 401k? Download the Solo 401k Handbook: Everything you need to know in a handy PDF: There seems to be some confusion around what business entities are eligible to open a solo 401k account. Because it’s called a “solo” 401k, and also often referred to as an individual 401k or a one-participant […]

Solo 401k
August 30, 2023
Can I Open a Solo 401k if I Have a Full-Time Job?

One of the most common questions we get at Ocho is: Can I open and contribute to a solo 401k if I have a full-time job with an employer? Yes, you can have a solo 401k even if you have a full-time job. While a solo 401k is a retirement plan for business owners and […]

contribute to sep ira and solo 401k
Solo 401k +1 SEP IRA
August 30, 2023
Can I Contribute To A SEP IRA And Solo 401k At The Same Time?

One of the most common questions that comes up with business owners looking to set up a retirement plan is: Can I contribute to both a SEP IRA and a solo 401k, and will doing so allow me to contribute more money per year? Yes, in certain instance, if you have two separate businesses, you can […]

sep ira vs solo 401k
Solo 401k +1 SEP IRA
August 30, 2023
Solo 401k Vs SEP IRA

OVERVIEW The solo 401k and SEP IRA are retirement accounts created for small business owners and self-employed individuals. Both have the same contribution limits, offer tax-free compounding on investments, and all business entities are eligible. A solo 401k offers more tax advantages than a SEP IRA, but has stricter eligibility requirements. Depending on your business, one might make […]

August 25, 2023
How to Choose The Perfect Business Name (And Things to Avoid)

Choosing a business name is one of the most important steps in building a successful and memorable brand. You should select a name that not only represents your company’s values and objectives but also resonates with your target audience, since your name will be the first thing people associate with your company. With countless companies […]

Solo 401k
August 21, 2023
Solo 401k Contribution Limits & Deadlines (2022 & 2023)

2022 Solo 401k Limits & Deadlines 2023 Solo 401k Limits & Deadlines With a solo 401k, you contribute to your plan as both the employer and the employee. Contribution limits and deadlines are different for both sides, and can vary even further depending on your business entity. If you’re considering opening an account and making contributions, here’s a […]