Carry Learning Center

Having a side business can open the door to extra retirement savings, especially if you are already participating in a 401k through your day job. At first glance, it may look like you are doubling your retirement benefits. But the IRS has contribution limits that apply across both plans, and coordinating them takes careful planning. You [...]

Roth conversions can offer long-term tax advantages, but they come with short-term consequences you need to plan for. When you move money from a traditional IRA or 401k into a Roth account, the conversion is taxable in the year it happens. Once completed, you can’t undo it. The 2025 tax year brings extra pressure to get [...]

Earning both W-2 and 1099 income opens the door to extra retirement contributions — but it also adds complexity. If you already have a 401k through your employer and want to set up a Solo 401k for your side business, the IRS has strict coordination rules you must follow. It’s easy to make honest mistakes that [...]

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: [...]

Running your own business does not mean missing out on the tax benefits often available to employees at larger companies. A Solo 401k can potentially help freelancers, consultants, and single-member LLC owners defer ordinary income taxes and save meaningful dollars for retirement in a tax-advantaged way.  For 2025, the IRS has increased employee contribution limits and [...]

Understanding Solo 401k rules can get more complicated once part-time employees enter the picture. Starting in 2025, the SECURE Act 2.0 requires certain long-term, part-time workers to be included in retirement plans. This means small-business owners and self-employed individuals need to know which employees qualify, how contributions are handled, and what compliance steps apply. For example, [...]

Market ups and downs, inflation concerns, and global uncertainty often push retirement savers to look beyond traditional stocks and bonds. Gold is frequently viewed as a tangible store of value and a potential safeguard. For many, the question becomes simple: Can you invest in gold through a 401k? The short answer is yes, but not always in [...]

Saving for retirement can feel complex, especially if you are eligible for multiple tax-advantaged plans. Some individuals have access to both a 457b and a Solo 401k and want to understand how to contribute to each without exceeding IRS limits.  In 2025, the elective deferral limit for both plans is $23,500, though eligibility rules and contribution [...]

Deciding who will inherit your 401k is more than just paperwork. It’s about making sure the savings you worked for actually help the people you intend. When the beneficiary isn’t a spouse, the rules can feel less straightforward, and mistakes may leave loved ones with stress instead of security. This guide walks through what it means [...]