Considering Opening a Self-Directed Solo 401(k) for 2021? The Timing Matters!

Self-Directed Solo 401(k)s are a great way for eligible nonemployer business owners to save on taxes by deferring till retirement. They can also help save for retirement in a self-directed and asset class-diversified way. The timing for adopting this kind of plan matters, however, so that the contribution methods can be fully maximized.

Depending on how the business is taxed and cashflow needs, time is running out for 2021.