Ocho Learning Center

Solo 401k
September 27, 2023
Solo 401k Catch-up Contributions Explained

If you were late in starting to save for your retirement, catch-up contributions exist to let you “catch up” by giving you slightly higher contribution limits each year. If you’re 50 years of age or older, you’re allowed to contribute more money into your solo 401k than is typically allowed. This is also helpful due […]

Solo 401k
September 25, 2023
Comparing The Best Solo 401k Plan Providers for 2023

A solo 401k plan is only as good as what features your provider can offer you. Every solo 401k plan provider is different in the number of benefits and level of support offered.  Low-cost or free plans, also called prototype plans, often don’t offer desirable features like the ability to make Roth contributions, take solo 401k loans, […]

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 […]

controlled group
Retirement +1 Solo 401k
September 25, 2023
Solo 401k Controlled Group Rules for Multiple Business Interests

Understanding controlled group rules are important for business owners with multiple business interests. Controlled group rules exist to prevent business owners from offering themselves a retirement plan, like a solo 401k, through a side business, without offering any retirement benefits to their employees. Controlled group rules, especially affiliated service rules, are complex, but can be […]

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 […]

Personal Finance +1 Business
September 05, 2023
Financial Planning for Entrepreneurs With Irregular Income

In entrepreneurship, the excitement of forging your own journey is accompanied by unique challenges. Among these challenges is navigating how to handle an unpredictable income. Unlike the predictability of a monthly salary, variable income can swing you from feast to famine, making financial planning feel impossible. But with informed strategies in place, it’s possible to […]

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 […]