There are only two requirements to establish a Solo 401(k) plan, but it’s very important to meet at least one. Failure can result in plan disqualification.
You can borrow from your Solo 401(k), but it is never advised to remove money from your retirement savings. So, the loan should be used as a last resort.
Retirement wealth is no guarantee, but you can employ these strategies to make it more achievable to have a wealthy, stress-free retirement.