Solo401k creation timeline

[Chris Oswald]

I have looked into the self directed IRA and solo 401k and feel the later is a great option for me (yes I am self employed). I am curious about the timeline to have funds from previous employer retirement plans and an IRA transferred and available for re-investment.

Also, does all of the revenue go back to the 401k or am I am to be paid market rates for managing properties?

Thanks!

[Brian Eastman]

@Chris Oswald

The timeline will depend on where the funds sit today, but about 3 weeks total is normal to have a plan setup, receive a rollover from a prior institution and be in a position to invest.

You may not benefit in any way.  All transactions are exclusively for the benefit of the plan and all income accrues to the plan.  Your role is limited to an administrative capacity; identifying opportunities, executing contracts, handling expense & income transactions, etc.