Some folks say 40 is the new 30, and 50 is the new 40, I say that 50 is the new 61. As in that anybody 50 years or older can contribute up to a whopping $61,000 for 2018! Those under 50yrs with a Self-Directed Solo 401(k) also benefit greatly, by lowering their tax basis and contributing up to $55,000. Finally, multiply by two, should your spouse be part of your self-employed endeavors, totaling $122,000 or $110,000 if under 50 years. Read our knowledge base article for more information on contributions for 2018 and 2019.
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Rocket Dollar
