Great overview, numbermanAt Fidelity/Schwab/Etrade you can use their funds/ETFs for similar/lower ERs, and 0 in solo 401k fees. If you use mysolo401k, you'll pay $125/year, plus $525 setup. That's probably higher than Ascensus, but could be lower if you hold a lot of funds. Other similar providers or TPAs will probably cost more. The main benefit of providers like mysolo401k is flexibility (or features like the mega backdoor), not cost savings.
I'm planning to stay with Ascensus for now; my needs are pretty simple, and none of the complaints above affect me / are concerning to me so far.
I just wanted to add that with MySolo401k and some other providers, you can get the plan to qualify for the auto-enrollment credit so that will get you $1500 at $500 per year for 3 years tax credit. With that accounted for you may actually save money over other options.
Statistics: Posted by GoldenBear17 — Tue Oct 22, 2024 1:00 am — Replies 1556 — Views 185033