Spouses in a Solo 401(k)

By Steve Sheppherd

Spouses in a Solo

Spouses Can Combine IRAs Into A Solo 401(k)

One of the additional advantages of the Solo 401(k) is that a husband and wife can combine their retirement plans into one plan, and thus combine their funds to do investing.

For example, if a husband and wife both own a company and there are no other employees they can both contribute to the Solo 401(k) plus both of their IRAs can be transferred into the Check Book Solo 401(K).  Now, it is in one account and it can be managed by one or both of them as plan administrators.

Their investments, even in the 401(k), can be separate, however.  If your spouse doesn’t really want to invest in one particular investment, then you can separate that out– that is now an internal bookkeeping issue.

That way you can, depending on your age, the husband and wife can contribute and defer taxes on up to $118,000 a year. That makes it a quite an advantage to the Self Directed Check Book Solo 401(k).   ## #RetirementInvestmentForSpouses

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