MySolo401k vs Rocket Dollar Solo 401(k)
Side-by-side comparison of MySolo401k and Rocket Dollar Solo 401(k) plans for freelancers — fees, features, and which one fits your needs.
| Feature | MySolo401k | Rocket Dollar |
|---|---|---|
| Setup Fee | $650 | $360 |
| Annual Fee | $125/yr | $180/yr |
| Roth Option | ||
| Crypto | ||
| Alt Investments | ||
| Self-Directed | ||
| Loans | ||
| Mega Backdoor | ||
| Investment Options | Stocks, crypto, real estate, private equity, tax liens | Stocks, crypto, real estate, private equity |
| Best For | Full self-directed control with checkbook access | Self-directed investing with a friendlier interface |
MySolo401k
PROS
- Checkbook control
- Invest in anything
- Loans available
CONS
- $650 setup
- Complex compliance
- DIY management
Rocket Dollar
PROS
- Self-directed
- Crypto support
- Good UI
CONS
- $180/yr ongoing
- No loans
- No mega backdoor
The Verdict
Rocket Dollar is cheaper, but MySolo401k offers more features.
Rocket Dollar costs $1260 over 5 years vs $1275 for MySolo401k — a $15 difference.
MySolo401k offers 5 advanced features vs 3 for Rocket Dollar.
Choose Rocket Dollar 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, MySolo401k or Rocket Dollar Solo 401(k)?
Rocket Dollar is cheaper, but MySolo401k offers more features. Choose Rocket Dollar if you want to minimize costs. Choose MySolo401k if you need crypto, self-directed investing, loans or other advanced features.
How much does MySolo401k vs Rocket Dollar Solo 401(k) cost?
MySolo401k charges $650 setup and $125/yr annually ($1275 over 5 years). Rocket Dollar charges $360 setup and $180/yr annually ($1260 over 5 years). Rocket Dollar costs $1260 over 5 years vs $1275 for MySolo401k — a $15 difference.
Can I invest in crypto with both MySolo401k and Rocket Dollar?
Yes, both MySolo401k and Rocket Dollar support cryptocurrency investing in their Solo 401(k) plans. MySolo401k offers Stocks, crypto, real estate, private equity, tax liens. Rocket Dollar offers Stocks, crypto, real estate, private equity.
Does MySolo401k or Rocket Dollar 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. Rocket Dollar supports self-directed investing including real estate and alternative assets.