How to hold cash in a solo 401k?

[G. M.]

Your company helped helped me set up my solo 401k bank account. Does any money in that checking account count as being invested in my solo 401k, or do I have to invest it somewhere. I ask because I want to park some of the money as cash for now. I know can open a solo 401k investment account with Fidelity or TD Ameritrade for example and simply put in the account as cash.

Is this the best/only way to do this is, or can you suggest other options.

thanks.

G. M.

Contact

[George Blower]

@Gene Malfetano Thank you for posting your question!

This confirms that one may leave his or her Solo 401k investments in cash in the Solo 401k bank or brokerage account. Moreover, this cash is considered part of the Solo 401k plan assets.

George Blower

My Solo 401k Financial

Contact

8004897571 mysolo401k.net