My husband and I are both 1099 employees and do not have access to a 401K through work. I am not familiar with setting up a Solo 401K. Do we need to look into how to do that or just invest in a brokerage account instead? Thanks!
I believe most of the big brokerages can allow you to open up a Solo 401k. Fidelity sounds familiar but apologizing in advance if it’s one of the others.
Here’s what I pulled from their site:
I’d probably run this by a CPA. I don’t think there’s an easy/obvious answer. You might ask a CPA about a SEP IRA vs a Solo 401k vs other ideas and which one works for your situation.
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