Learn How Much You Should Be Saving Towards Your Future
Ubiquity’s Solo 401(k) Calculator helps you determine:
A Solo 401(k) Calculator can also help you make several key calculations to understand how much you can potentially contribute to your future retirement fund.
To determine your Solo 401(k) maximum, take Employee Contribution + Employer Contribution
The employee calculation for a Solo 401(k) is pretty straightforward. You can invest up to 100% of your income to a maximum of $23,000 into the account for 2024. If you’re age 50 or older, you can put in an extra $7,500.
As the employer, though, you can add a profit-sharing contribution into your Solo 401(k) that varies based on how your business gets taxed.
The total amount you can save for retirement as both employer and employee is $69,000 (plus the catchup contribution of $7,500, plus your spouse’s contributions).
If you are turning 50 years old before December 31st, you can put in an extra $7,500 to your Solo 401(k).
To set up your easy, low-cost Solo 401(k), contact Ubiquity today!
Ready to learn more about saving in a Solo 401(k)?
Start saving the self-employed way.
Build your nest egg while gaining tax advantages.
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© 2024 Ubiquity Retirement + Savings
44 Montgomery Street, Suite 300
San Francisco, CA 94104
Talk to Sales
Schedule a Free Consultation
Contact Support
Visit our Help Center
support@myubiquity.com
Monday–Friday
6am–5pm PT / 9am–8pm ET
© 2024 Ubiquity Retirement + Savings
44 Montgomery Street, Suite 300
San Francisco, CA 94104