When Does a Solo(cb) Make Sense?
The Solo(cb) plan is ideal for the self-employed individuals who are:
- Able to contribute a significant amount of earnings from self-employment for a period of 3 years or longer
- Already maximize their retirement plan contributions and are looking for opportunities to increase deductible contributions.
- Looking for ways to accelerate retirement savings.
- Looking to establish a retirement plan but plan options outside of a Solo(cb) do not meet their contribution goals.
- Delayed saving for retirement and need to catch up by making higher contributions than those supported by other retirement plans.
- In addition to W-2 wages from full-time employment, have self-employment income which they would like to invest on a pre-tax basis for retirement.
- Invested heavily in their business, but now have surplus self-employment income which they would like to use to bridge retirement savings gap.
- Looking to quickly diversify their retirement savings with contributions to a retirement plan account because their investment strategy to date consisted primarily of illiquid investments, e.g. real estate.
- Looking to transition ownership of their business on a tax-advantaged basis.
What is a Solo(cb)?
Who is a candidate?
How does it compare to others?
Why a Solo(cb)?
What are typical occupations?
See Case Studies
Access Solo(cb) Kit
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