When you open Solo 401k with checkbook control option (checkbook 401k), here are the benefits:
Countless Investment Options
You have choice to invest in many kinds of alternative investments. For example, real estate (e.g., rentals, commercial real estate, mobile homes etc.), notes-both secured and unsecured, precious metals such as gold (bars or coins), and silver, private equity, tax lien certificates, currency trading, equities and more.
You are Named Trustee of the Plan when you open Solo 401k
By naming you as trustee of your Solo 401k plan, you have checkbook control, resulting in opportunity to process investment purchases quickly and timely. By designating you as trustee, you make all investment decisions and have option to custody the Solo 401k alternative investments.
Solo 401k Checkbook control at bank of your choosing or by using brokerage account
Since you are named trustee of your Solo 401k, when you open solo 401k with checkbook control all alternative investments can be processed from a brokerage account at Ameritrade, Fidelity or Charles Schwab. Of course, you also have option of opening checking account at local bank in the Solo 401k name. Note that in both of these scenarios you have to go through a Solo 401k provider whose documents allow for checkbook control before proceeding.
Contact http://mysolo401k.net/ as our documents allow for alternative investments, and we have the necessary forms for establishing a brokerage account with checkbook control.
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