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Updated over 4 years ago, 06/05/2020

User Stats

20
Posts
2
Votes
Daniel Gerardi
  • Phoenix, AZ
2
Votes |
20
Posts

Roth IRA conversion or rollover to a solo 401k. Is there a way ?

Daniel Gerardi
  • Phoenix, AZ
Posted

Hello BP Community ! 

I live in Phoenix AZ and in my quest to choose the best self managed retirement account (for me), that I can fill with a few hand picked investments from the NYSE to grow my wealth for retirement with diversity. I have found that I want a Roth IRA and believe Fidelity may be the best option to suit my needs in the meantime. Moving forward down the road perhaps a few years or so I will want the flexibility of something self directed. Perhaps with larger contribution limits and no limit on income so I can incorporate real estate investments into the mix ( Understanding I will no doubt have to move my money from Fidelity to a brokerage specializing in real estate and self direction). That's when through shuffling around on BP I was introduced to the idea of a solo 401k as a potential option to roll or convert my prospect Roth IRA account into. But soon discovered a Roth IRA cannot be rolled directly into a Solo 401k but a traditional IRA can. I understand I don't qualify for a Solo 401k at this point in time due to me not being self employed yet.

My questions are as follows

* Am I allowed to convert a Roth IRA into a traditional then roll that into a Solo 401k?

* Would it even be worth it? 

* And if this way is a no go is there another way I don't know of yet?

  Any additional information on the subject is of course greatly appreciated, thank you all in advance for your time!

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