Rocket Dollar Knowledge Base

What are the benefits of a Rocket Dollar Self-Directed Solo 401(k) compared to the IRA?

‍The Rocket Dollar Self-Directed Solo 401(k) offers benefits above and beyond other retirement vehicles, including high contribution limits, checkbook control, no custodian fees and tax deductions.

‍‍The Rocket Dollar Self-Directed Solo 401(k) offers benefits above and beyond other retirement vehicles, including:

High Contribution Limits: annual contribution limit is up to $55,000. Married couples may contribute up to $110,000, based self-employed income generated in 2018.

Checkbook Control: Making any investment with your Self-Directed Solo 401(k) is as easy as writing a check, as you -- the account holder -- serve as trustee and custodian of the plan.

‍No Custodian Fees: The Self-Directed Solo 401(k) plan allows you to eliminate the expense and delays associated with a custodian, enabling you to make alternative asset investments in real-time.

Tax Deduction: By paying for your Self-Directed Solo 401(k) with business funds, you would be eligible to claim a deduction for the cost of the plan, including annual maintenance fees.