Charles Schwab Solo 401(k)
A retirement plan for the self-employed.
Overview
The Charles Schwab Individual 401(k) Plan is designed for self-employed individuals and owner-only businesses. It allows for contributions as both the "employee" and "employer," enabling significant tax-deferred or tax-free savings. The plan provides access to a broad selection of investments, including stocks, ETFs, mutual funds, and bonds, with no account setup or maintenance fees.
✨ Key Features
- No setup or maintenance fees
- Traditional and Roth contribution options
- Wide range of investment choices
- Loan option available
- Rollover capabilities
🎯 Key Differentiators
- No account fees
- Strong customer service reputation
- Availability of a loan feature
Unique Value: Provides a no-fee Solo 401(k) with a loan option and access to a comprehensive investment platform from a trusted brokerage.
🎯 Use Cases (3)
✅ Best For
- Maximizing retirement contributions for self-employed professionals
- Building a diversified retirement portfolio with low costs
💡 Check With Vendor
Verify these considerations match your specific requirements:
- Businesses with employees other than a spouse
- Investors who want to include alternative assets like real estate or cryptocurrency in their retirement plan
🏆 Alternatives
Offers a more robust feature set, including a loan option, compared to some other no-fee brokerage plans.
💻 Platforms
🛟 Support Options
- ✓ Email Support
- ✓ Live Chat
- ✓ Phone Support
- ✓ Dedicated Support (NA tier)
🔒 Compliance & Security
💰 Pricing
Free tier: No setup or maintenance fees.
📊 Market Info
Customers: NA
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