Carry Learning Center

Check if you are eligible to open a Solo 401k account [...]

Calculate penalties and taxes for early withdrawals from Solo 401k accounts [...]

📝 The government requires companies offering 401k plans to keep things fair for all employees. This ensures that highly paid employees (like executives) don’t get much better retirement benefits than regular employees. Each year, companies must run tests to prove that the retirement benefits and contributions are relatively equal between these two groups of employees:  Highly compensated [...]

Looking to open a Solo 401k plan? Get started today with just a few clicks – The Carry Solo 401k Plan is a featured-packed self-directed account that lets you invest in both traditional and alternative assets, take out a loan, or do a Mega Backdoor Roth conversion with a few clicks. An IRA is a tax-deferred retirement [...]

Looking to open a Solo 401k plan? Get started today with just a few clicks – The Carry Solo 401k Plan is a featured-packed self-directed account that lets you invest in both traditional and alternative assets, take out a loan, or do a Mega Backdoor Roth conversion with a few clicks. Roth retirement accounts have a [...]

Looking to open a Solo 401k plan? Get started today with just a few clicks – The Carry Solo 401k Plan is a featured-packed self-directed account that lets you invest in both traditional and alternative assets, take out a loan, or do a Mega Backdoor Roth conversion with a few clicks. The IRS lets you invest [...]

401K OVERVIEW & FAQ What is a 401k? A 401k is an employer-sponsored retirement account. If your company offers a 401k, you can automatically deposit a portion of your paycheck into your plan, where it gets invested with tax-free compounding until retirement. What is the contribution limit of a 401k? $23,000 for 2024 and $23,500 for 2025. If you’re [...]

The employer-sponsored 401k plan comes in two different account types: Traditional and Roth. The main difference between them is when and how they get taxed. Traditional 401k contributions give you tax benefits when you contribute money into your plan. Roth 401k contributions give you tax benefits when you withdraw money from your plan. Here’s everything you [...]

401K BASIC WITHDRAWAL RULES You must be at least at least 59½ years old to start taking distributions without a 10% penalty. To withdraw from a Roth 401k, you must be at least 59½ years old and your Roth 401k account must be at least 5 years old. Early withdrawals are subject to a 10% penalty, plus income [...]