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Money Girl

What's the Difference Between a 401(k) and Solo 401(k)?

Money Girl

Macmillan Holdings, LLC

Entrepreneurship, How To, Investing, Business, Education

4.61.8K Ratings

🗓️ 13 December 2023

⏱️ 16 minutes

🧾️ Download transcript

Summary

Understand how a regular and solo 401(k) compare, who can have them, and ways to maximize their tax-advantaged benefits.

Money Girl is hosted by Laura Adams. A transcript is available at Simplecast.

Have a money question? Send an email to money@quickanddirtytips.com or leave a voicemail at 302-365-0308.

Find Money Girl on Facebook and Twitter, or subscribe to the newsletter for more personal finance tips.

Money Girl is a part of Quick and Dirty Tips.

Links: 

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Transcript

Click on a timestamp to play from that location

0:00.0

Matt M says, says, hi Laura, your podcast has been a valuable source of financial

0:09.9

education. I've listened to various episodes but am unsure if I can use a solo 401k.

0:17.0

Can you review how to utilize this type of account?

0:20.0

Matt, thank you for sending in your question. I'll review solo 401k rules and how it compares to a regular 401k.

0:29.0

You'll learn who qualifies for these similar sounding yet very different tax

0:34.4

advantaged accounts and how to maximize their benefits.

0:38.0

Hey everyone, thanks for joining me this week.

0:41.0

I'm Laura Adams, host of the Money Girl Podcast with over 42 million

0:45.3

downloads. Before we get started I have a quick announcement that I'm

0:49.4

super excited about. This week I'm launching something new. It's called The Money Stack. It's a

0:56.0

newsletter and community helping you build your bank account on your terms with loads

1:01.5

of actionable advice, tools, inspiration, and educational events.

1:07.0

Best of all, it's free to sign up.

1:10.1

You'll get the newsletter, my behind the scenes videos,

1:13.7

and invitations to special events, like my upcoming workshop

1:17.8

called develop wealth habits that guarantee

1:21.3

a rich and happy life. This workshop is the perfect way to start the new year.

1:26.7

You do not want to miss it. And even if you can't show up for the live event, I know we all get

1:31.8

busy. I love for you

1:35.0

up for the live event. I know we all get busy. I'd love for you to be there live.

1:36.0

But if you can't show up live,

1:38.0

be sure to subscribe to the newsletter

...

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