Charles Schwab vs Fidelity Solo 401(k)
Side-by-side comparison of Charles Schwab and Fidelity Solo 401(k) plans for freelancers — fees, features, and which one fits your needs.
| Feature | Charles Schwab | Fidelity |
|---|---|---|
| Setup Fee | $0 | $0 |
| Annual Fee | $0 | $0 |
| Roth Option | ||
| Crypto | ||
| Alt Investments | ||
| Self-Directed | ||
| Loans | ||
| Mega Backdoor | ||
| Investment Options | Stocks, ETFs, mutual funds, bonds | Stocks, ETFs, mutual funds, bonds |
| Best For | Zero-cost simplicity, same as Fidelity | Zero-cost simplicity for most freelancers |
Charles Schwab
PROS
- $0 fees
- No minimums
- Strong research tools
CONS
- No crypto
- No loans
- No self-directed
Fidelity
PROS
- $0 fees
- No minimums
- Lowest-cost index funds
CONS
- No crypto
- No loans
- No self-directed
The Verdict
Charles Schwab and Fidelity are nearly identical on cost and features.
Both Charles Schwab and Fidelity cost $0 over 5 years.
Both providers offer 0 advanced features (crypto, alt investments, self-directed, loans, mega backdoor).
Pick whichever interface you prefer — both are solid choices for freelancers.
Frequently Asked Questions
Which is better for freelancers, Charles Schwab or Fidelity Solo 401(k)?
Charles Schwab and Fidelity are nearly identical on cost and features. Pick whichever interface you prefer — both are solid choices for freelancers.
How much does Charles Schwab vs Fidelity Solo 401(k) cost?
Charles Schwab charges $0 setup and $0 annually ($0 over 5 years). Fidelity charges $0 setup and $0 annually ($0 over 5 years). Both Charles Schwab and Fidelity cost $0 over 5 years.