Current employee position- making mid 6 figures salaried-401k. I put in 18,000, and employer puts in 15,900.
solo 401k (not setup yet)- contractor side gig which pays 1800 a month. So as I understand it I can't put any more "employee contribitions" into my solo 401k since Ive used that all up, but I can put employer(me) contributions in- right? How much of my 1800/month contractor income can I put in the 401k? I read some 20% figures? Or all of it?
Also, what about roth solo 401k? Worth it? An option?
Thanks!
solo 401k (not setup yet)- contractor side gig which pays 1800 a month. So as I understand it I can't put any more "employee contribitions" into my solo 401k since Ive used that all up, but I can put employer(me) contributions in- right? How much of my 1800/month contractor income can I put in the 401k? I read some 20% figures? Or all of it?
Also, what about roth solo 401k? Worth it? An option?
Thanks!
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