Fidelity vs MySolo401k Solo 401(k)
Side-by-side comparison of Fidelity and MySolo401k Solo 401(k) plans for freelancers — fees, features, and which one fits your needs.
| Feature | Fidelity | MySolo401k |
|---|---|---|
| Setup Fee | $0 | $650 |
| Annual Fee | $0 | $125/yr |
| Roth Option | ||
| Crypto | ||
| Alt Investments | ||
| Self-Directed | ||
| Loans | ||
| Mega Backdoor | ||
| Investment Options | Stocks, ETFs, mutual funds, bonds | Stocks, crypto, real estate, private equity, tax liens |
| Best For | Zero-cost simplicity for most freelancers | Full self-directed control with checkbook access |
Fidelity
PROS
- $0 fees
- No minimums
- Lowest-cost index funds
CONS
- No crypto
- No loans
- No self-directed
MySolo401k
PROS
- Checkbook control
- Invest in anything
- Loans available
CONS
- $650 setup
- Complex compliance
- DIY management
The Verdict
Fidelity is cheaper, but MySolo401k offers more features.
Fidelity costs $0 over 5 years vs $1275 for MySolo401k — a $1275 difference.
MySolo401k offers 5 advanced features vs 0 for Fidelity.
Choose Fidelity if you want to minimize costs. Choose MySolo401k if you need crypto, self-directed investing, loans or other advanced features.
Frequently Asked Questions
Which is better for freelancers, Fidelity or MySolo401k Solo 401(k)?
Fidelity is cheaper, but MySolo401k offers more features. Choose Fidelity if you want to minimize costs. Choose MySolo401k if you need crypto, self-directed investing, loans or other advanced features.
How much does Fidelity vs MySolo401k Solo 401(k) cost?
Fidelity charges $0 setup and $0 annually ($0 over 5 years). MySolo401k charges $650 setup and $125/yr annually ($1275 over 5 years). Fidelity costs $0 over 5 years vs $1275 for MySolo401k — a $1275 difference.
Can I invest in crypto with Fidelity or MySolo401k Solo 401(k)?
Only MySolo401k supports crypto investing. Fidelity limits you to traditional investments like stocks, etfs, mutual funds, bonds.
Does Fidelity or MySolo401k offer loans and self-directed investing?
MySolo401k allows participant loans (up to 50% of balance or $50,000). MySolo401k supports self-directed investing including real estate and alternative assets.