Can anyone clarify if I am understanding my 403b yearly limit correctly with regards to opening a solo 401K?
I primarily am employed and paid on a W2. I contribute 18K of employee contributions to a 403b, and my employer matches quite nicely and essentially gets me up to 53K with the match.
Does this mean for my side 1099 independent contractor gig that I cannot open a solo401k and contribute the 20% of employer contributions to this new 401k, according to rule #7 on https://www.whitecoatinvestor.com/multiple-401k-rules/ ?
Thanks
I primarily am employed and paid on a W2. I contribute 18K of employee contributions to a 403b, and my employer matches quite nicely and essentially gets me up to 53K with the match.
Does this mean for my side 1099 independent contractor gig that I cannot open a solo401k and contribute the 20% of employer contributions to this new 401k, according to rule #7 on https://www.whitecoatinvestor.com/multiple-401k-rules/ ?
Thanks
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