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Updated over 3 years ago on . Most recent reply

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158
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Helen Zhang
  • Austin, TX
39
Votes |
158
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Solo 401k integrate with social security?

Helen Zhang
  • Austin, TX
Posted

Hey Guys, 

I am very new to solo 401k and I wanted to get started on it. There is an option where it asks me if I wanted to integrate this solo 401k with social security. I can't seem to understand the intention of this question... what benefit do I get to integrate with social security? and why would anyone want to do that? how does integrate with social security affect 401k? 

I can't seem to understand what is the relationship between solo 401k with social security at all. If someone can help me understand this, it would be a tremendous help for me to move forward with solo 401k. 

Helen Z

Most Popular Reply

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Dmitriy Fomichenko
Tax & Financial Services
Pro Member
#1 New Member Introductions Contributor
  • Solo 401k Expert
  • Anaheim Hills, CA
6,234
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17,844
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Dmitriy Fomichenko
Tax & Financial Services
Pro Member
#1 New Member Introductions Contributor
  • Solo 401k Expert
  • Anaheim Hills, CA
Replied

Also, the loan is taken from the account, not against it. It seems that Fidelity plan does not have a loan provision. 

How about investing: how do you wish to invest 401k funds? With Fidelity 401k plan you will be limited only to Fidelity investment offerings, to invest in real estate and other alternative investments you need truly self-directed Solo 401k plan. Here is a good discussion on the topic which you may find helpful:

https://www.biggerpockets.com/...

  • Dmitriy Fomichenko
  • (949) 228-9393
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