Self Directed IRA or Solo 401k

[Jesse Kindra]

Hi BP Community,

I could use some advise on options available for retirement accounts from past employers. I do have a few accounts available and I think it's fairly easy to rollover into a Self Directed IRA using a custodian. The question I have is whether I am eligible for a Solo 401k which has more advantages. While I do have a full time job, I have been consulting for years and have income from that activity. Would that allow me to use a solo 401k and rollover assets from past employers? Obviously I should also talk to an expert - if there is anyone folks recommend, please let me know. Thanks in advance!

[Jeff Rabinowitz]

You are correct that a Solo 401k offers advantages that a SD IRA does not and that you must have self employment income to qualify. If you search for this topic you will probably identify several BP members with expertise in this area. @Dmitriy Fomichenko, is one.