- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My client came to me to say he set up a solo K for himself. He's working and earning wages in the form of a W2. His employer doesn't offer a retirement plan.
I thought you have to have self employed income to be able to do this? Am I missing something here? Working and receiving a W2 is not self employmen
For sure he can contribute to an individual traditional IRA but he insisted that his investment advisor says he can create his own 401K.
What are your thoughts?
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Of course he can create it ------------------ and some day when he is self employed he can contribute into the account. Until then he as to go the IRA route.
Slava Ukraini!
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My thoughts are he needs a new investment advisor. One who has a basic understanding of tax law.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Laughing with you with this comment.
Thanks for validating that. I thought may be Congress came out with something a few minutes ago and I missed it. 🙂