Switch to Carry
Carry vs My Solo 401k
Carry offers the best self-directed solo 401k plan with integrated bank and brokerage platforms. You can set up an account in under 10 minutes, and make contributions and even investments* all without ever having to leave the app.
How is Carry different from My Solo 401k?
Carry and My Solo 401k offer two very different kinds of solo 401k plans. My Solo 401k will create your plan documents for you, but you’ll need to open a separate bank and brokerage account at a different institution of your choosing. They’ll create your plan documents and help you maintain your account each year for a fee. However, to invest your funds, you’ll have to find a brokerage that will accept their plan documents, like Fidelity, Schwab, or TD Ameritrade. Carry is an all-in-one modern solo 401k plan. You can set your elections, make contributions, and even make investments through Carry’s integrated bank and investment platform*.
The most intuitive signup process
Setting up a solo 401k used to be a paperwork nightmare. With Carry, you can set up your account, sign all paperwork online, and be done in under 10 minutes. Signing up for a solo 401k has never been easier, and if you need help, support is always ready to assist you.
Integrated bank and brokerage
No need to take your plan documents and go hunting for a bank and brokerage account. Carry has integrated bank and brokerage platforms that you can use to make contributions, make withdrawals, and invest your funds with checkbook control*.
Transparent pricing
Carry is a simple flat rate of $299/year for all features and investments. No hidden fees, additional charges, or any fees for assets under management*. My Solo 401k charges $525 for the first year, and $125/year after that to maintain your account with them.
| Features | Carry Solo 401k | My Solo 401k |
|---|---|---|
| Cost | $299/year for unlimited investments*. | $525 first fee + $125 annual fee |
| Integrated bank account | ✅ | ❌ |
| Integrated brokerage account | ✅ | ❌ |
| Making contributions | Online through the Carry app | Open a bank account with a 3rd party institution. |
| Making investments | Online through the Carry app* | Open a brokerage account with a 3rd party institution that will accept the My Solo 401k plan documents. |
| Roth option | ✅ | ✅ |
| Mega backdoor Roth | ✅ | ✅ |
| Customer support | ✅ | ✅ |
| Compliance support | ✅ | ✅ |
| Rollovers | ✅ | ✅ |
Why business owners love Carry
Contribute up to $66,000 for 2023 and invest your money with tax-free compounding in any asset class. Carry has the smoothest, most intuitive solo 401k experience with integrated bank and brokerage platforms, and the ability to make contributions, set elections, sign paperwork, and even make investments all directly through the Carry app*.
The smoothest solo 401k experience
Carry completely simplified the solo 401k sign up process. What used to take days, involving reading through and signing 50+ pages of paperwork, can now be done in a fraction of the time. It takes just 10 minutes to open a solo 401k with Carry.
Integrated bank and brokerage platforms
With My Solo 401k, you’ll need to take the plan documents they make for you and find a brokerage that will accept them. With Carry, you can do everything within the app, through integrated bank and brokerage platforms built in directly.
Highest contribution limits
Contribute up to $61,000 for 2022 and $66,000 for 2023. That’s 10x higher than the contribution limit of an IRA and 3x higher than the limit of a 401k. You can also contribute up to $20,500 into a Roth account, or up to $27,000 if you’re 50 years of age or older.
Mega backdoor Roth
The typical contribution limit for a Roth solo 401k is $22,500 for 2023. Carry also supports the mega backdoor Roth solo 401k, which allows users to contribute up to $66,000 into a Roth solo 401k, and not be bound by the employee deferral limit of $22,500.
Worldclass support
Carry has the best customer support team readily available to help you whenever you need assistance. From full onboarding support to complimentary compliance checks, Carry makes sure that you’re saving the most in taxes while making the best decisions for your retirement goals.
Carry is trusted and backed by the world’s top entrepreneurs, creators and money experts.
“The level of insight you get in terms of your money management is not something I’ve seen on any other apps I’ve used.”
3500
Early Stage Users
100+
Startup founders have invested in Carry
$5M+
In preseed funding
Built by the team that built:
“The Carry Solo 401k is a retirement plan so powerful and flexible that it feels like you’re getting access to a tax loophole.”
Elizabeth Yin
Cofounder, Hustle Fund
“Every business owner, creator, and self-employed person should have one. The benefits and tax savings each year are a no-brainer.”
Sebastian Fung
Owner, Ask Sebby
“Carry built something I’ve wanted to exist for a long time – the modern solo 401k with all the best features and full admin support.”
Nate O’Brien
Investor & YouTuber
Sign Up to Carry and get all-inclusive access to all of our products
Carry is an annual membership that includes:
Solo 401k
Ownership of an Carry Solo 401k plan, contribute up to $66,000 for 2023, and invest in any asset class with tax-free compounding.
Education
Access to Carry’s entire library of on-demand finance and business courses (including all summit replays). Plus join in on our live webinars and AMAs with guest experts.
Carry IRAs (Roth + Traditional) You’ll get immediate access to both accounts on any plan**.
Personalized Financial Plans Starting at the end of May, access a custom financial plan built by our financial advisors for your specific financial situation and goals (only available on our Professional Plan)*.
“Ask an Advisor”
Get advice from our team of financial experts (only available on our Professional Plan)*.
Full Support
Onboarding, compliance, and tax-filing support. Get help from our world class support team any time you need assistance.
Basic Plan ($399 $299/year)
Carry Solo 401k Plan
Carry IRAs (Traditional + Roth)†
Security & compliance monitoring, full onboarding support and account administration assistance.
On-demand courses uploaded regularly on a variety of personal + business finance topics
Live events with financial guest experts, both workshops and AMA style conversations
Professional Plan ($999 $499/year)
Carry Solo 401k Plan
Carry IRAs (Traditional + Roth)†
Security & compliance monitoring, full onboarding support and account administration assistance.
On-demand courses uploaded regularly on a variety of personal + business finance topics
Live events with financial guest experts, both workshops and AMA style conversations
Plus: Personalized financial plan)◊
Plus: Access to “Ask an Advisor”◊
Sign Up to Carry and get all-inclusive access to all of our products
Carry is an annual membership that includes:
Solo 401k
Ownership of an Carry Solo 401k plan, contribute up to $66,000 for 2023, and invest in any asset class through your plan with tax-free compounding.
Education
Access to Carry’s entire library of on-demand finance and business courses (including all summit replays). Plus join in on our live webinars and AMAs with guest experts.
Carry IRAs (Roth + Traditional) You’ll get immediate access to both accounts on any plan.†
Personalized Financial Plans Starting at the end of May, access a custom financial plan built by our financial advisors for your specific financial situation and goals (only available on our Professional Plan).◊
“Ask an Advisor”
Get advice from our team of financial experts (only available on our Professional Plan).◊
Full Support
Onboarding, compliance, and tax-filing support. Get help from our world class support team any time you need assistance.
Basic Plan ($299/year)
Carry Solo 401k Plan
Carry IRAs (Traditional + Roth)†
Security & compliance monitoring, full onboarding support and account administration assistance.
On-demand courses uploaded regularly on a variety of personal + business finance topics
Live events with financial guest experts, both workshops and AMA style conversations
Professional Plan ($999/year)
Carry Solo 401k Plan
Carry IRAs (Traditional + Roth)†
Security & compliance monitoring, full onboarding support and account administration assistance.
On-demand courses uploaded regularly on a variety of personal + business finance topics
Live events with financial guest experts, both workshops and AMA style conversations
Plus: Personalized financial plan◊
Plus: Access to “Ask an Advisor”◊