Carry vs. Fidelity Solo 401k: Which is Right For You?

Running your own business or side gig? You might want to consider a retirement plan made for people like you. 

A Solo 401k could be a strong option. It’s built for self-employed individuals, with higher contribution limits and generally more flexibility than regular retirement accounts.

In this guide, we’re looking at two different Solo 401k plan providers: Fidelity and Carry. 

Fidelity offers free Solo 401k accounts. Carry charges a fee but includes features not typically offered by traditional providers. But which one is a better fit for your situation? Is Fidelity’s free plan enough, or are Carry’s premium features worth paying for? 

Let’s break down each provider in detail so you can choose the plan that fits your needs and financial goals.

📌 Also read: Important Forms for Solo 401k Owners

Carry vs. Fidelity Solo 401k – Quick Comparison

Features	Carry Solo 401k	Fidelity Solo 401k
Setup & Onboarding	Fully online, set up from home	Allows both paper-based and online account opening
Pricing	Starts at $29/month (Basic plan)	Free, no setup or annual fees
Roth Option	Offers Roth with Mega Backdoor support	Roth available for employee deferrals. No in-plan conversions. Starting January 1, 2026, some 50+ earners must make catch-up contributions as Roth.
Investment Options	Invest in almost any asset type – stocks, real estate, and even private funds (qualification required)	Wide range: mutual funds (Fidelity & non-Fidelity), stocks, bonds, ETFs, and CDs
Customer Support	Highly responsive, digital-first approach	Trusted, established support
Automation & Integration	Automated contributions & payroll links	Contributions can be submitted digitally but are not automated
Additional Features	Built-in robo-advisor and financial planning access	Plenty of research tools and easy integration with other Fidelity accounts

How Carry and Fidelity Stack Up for Your Solo 401k

Ease of Use

Carry offers a modern and user-friendly platform built specifically for entrepreneurs. Its clean design and automated features simplify the whole process of managing your Solo 401k account. The platform includes tools like calculators and guides to support setup, contributions, and ongoing management.

Fidelity, meanwhile, offers a more conventional approach. It is reliable and stable but involves a bit more paperwork and manual management. If you prefer a brand provider with a long track record and don’t mind some manual setup, Fidelity might be the better fit for you.

Investment Flexibility

With Carry, you’re not limited to standard stocks, bonds or mutual funds. It supports potential alternative investments like real estate and private funds (some providers may also offer access to digital assets like crypto, subject to restrictions). This can provide more flexibility for those interested in diversifying beyond traditional assets like stocks and bonds.

Fidelity sticks mostly to traditional investment options — stocks, bonds, mutual funds, and ETFs. While these cover most investors’ needs, you likely won’t be able to invest in alternative asset types like private equity. For those who want to diversify widely, Fidelity may feel restrictive.

Roth & Advanced Strategies

One benefit Carry offers is the ability to use Roth contributions and advanced strategies like the Mega Backdoor Roth. This can allow for the potential conversion of after-tax contributions into Roth accounts, which may lead to tax advantages depending on your financial situation. It’s not for everyone though, so if you’re exploring this be sure to talk to a tax professional or financial planner. 

Fidelity’s Solo 401k plans do not currently offer a Roth option, though updates are planned for 2026. Without this feature, you won’t be able to take advantage of advanced strategies like the Mega Backdoor Roth.

For example, if you’re earning a higher-than-average income, Carry may offer more flexibility when pursuing advanced or complex tax strategies.

📌 Also read: How to Invest in Crypto With a Roth IRA

Maintenance Fees

Fidelity is known for offering Solo 401k plans with no setup or annual maintenance fees, which is appealing for cost-conscious savers. However, keep in mind that trading fees may still apply depending on your investments. 

Carry charges a flat monthly subscription (starting around $29/month) which includes setup, account maintenance, and access to broader investment options. Depending on the investment, there may be additional fees, and Carry offers a wide variety of add-on services which can be purchased alongside your subscription. 

Customer Support

Carry offers platform-based technical support and resources tailored for entrepreneurs and freelancers. However, they do not provide personalized investment, tax, or legal advice.

Fidelity also generally provides reliable and professional customer support, with strong customer reviews highlighting their helpfulness. 

Carry vs Fidelity: Pros and Cons Summary

Carry Solo 401k

Pros:

✅ Easy online setup and management​

✅ Supports advanced strategies like Roth and Mega Backdoor Roth 

✅ Flexible investment options, including alternative asset types​

Cons:

❌ Annual fee starting at $299/year​

❌ Access to a Certified Financial Planner requires additional charge​

❌ Fewer long-term user reviews since it’s a newer platform

Fidelity Solo 401k

Pros:

✅ No setup or annual fees​

✅ Access to extensive research tools 

✅ Traditional investment options with brand trust 

Cons:

❌ No support for Mega Backdoor Roth

❌ Manual contribution processes and account management​

❌ Limited to traditional asset types

Wrapping It Up

Both Carry and Fidelity offer valuable Solo 401k options, but the best fit depends on your goals, desired features, and how you plan to manage your Solo 401k.

✅ Carry may be a better fit if you:

✅ Fidelity could be a better choice if you:

Ultimately, choosing between Carry and Fidelity comes down to picking the option that aligns with your long-term strategy and gives you confidence in your financial future.

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Disclaimer:

The Carry Learning Center is operated by The Vibes Company Inc. (“Vibes”) and contains generalized educational content about personal finance topics. While Vibes provides educational content and technology services, all investment advisory services discussed on this website are provided exclusively through its wholly-owned subsidiary, Carry Advisors LLC (“Carry Advisors”), an SEC registered investment adviser. The information contained on the Carry Learning Center should not be construed as personalized investment advice and should not be considered as a solicitation to buy or sell any security or engage in a particular investment, accounting, tax or legal strategy. Vibes is not providing tax, legal, accounting, or investment advice. You should consult with qualified tax, legal, accounting, and investment professionals regarding your specific situation.

The accounts, strategies and/or investments discussed in this material may not be suitable for all investors. All investments involve the risk of loss, and past performance does not guarantee future results. Investment growth or profit is never a guarantee. All statements and opinions included on the Carry Learning Center are intended to be current as of the date of publication but are subject to change without notice.

To access investment advisory services through Carry Advisors, you must be a client of Vibes on an eligible membership plan. For more information about Carry Advisors’ investment advisory services, please see our Form ADV Part 2A brochure and Form CRS or through the SEC’s website at www.adviserinfo.sec.gov.