How do you ACTUALLY set up a self directed 401k

[Cameron Price]

After researching different retirement accounts, I've decided that a self directed solo 401k plan is a good fit for me. I have self employment income and no w2 employees. When I search for how to start an account, I get all sorts of information about how great they are... I got that already! Lol. How do I ACTUALLY set one up? 

[Brian Eastman]

@Cameron Price

A provider will create the legal framework and put you in control of the plan. The plan is a trust, you will be the trustee, and you will operate the plan out of a bank account at the financial institution of your choosing.  It is fully self-directed.

If the plan is setup before December 31st, you may make 2015 contributions to the plan.  Whether you could max out with $18K on the Roth portion would depend on your situation and income and would be a matter to discuss with your tax advisor relative to your business tax filing.  It is likely if you have decent income in your business.