Sorry, we didn't find any relevant articles for you.

Send us your queries using the form below and we will get back to you with a solution.

How Do I Know My Money Is Safe?

All things considered, the Solo 401k– also referred to by the IRS as a “one-participant 401k”– is a powerful retirement and investment vehicle with several distinct features and benefits that make it stand out from other accounts.

But, before taking your investment money to the next level, you want to know your money is safe.

You’ve used your precious time and resources to grow your investment account, so it’s only natural that you’d want to verify not only the safety of a Solo 401k plan but also that you’re working with professionals who truly know what they’re doing.

Is a Solo 401k safe?

Whether you’ve just begun learning about the Solo 401k or are familiar with the benefits and are now strongly considering moving your money over to one, it’s important to know that a Maverick 401k is as safe, secure, and protected as any retirement account available.

First, the Maverick Solo 401k is fully recognized by the IRS and all relevant financial institutions as a valid legal trust for retirement planning purposes. While the Solo 401k has just begun to gain the attention it deserves, most aren’t aware that it has been around for just as long as the more common multi-individual 401k plan offered by many U.S. companies to their employees.

Next, the Solo 401k is a retirement account created by the IRS to provide options for retirement to U.S. citizens, so it was conceived and designed in the same vein as other highly-trusted retirement accounts such as a regular 401k, Roth IRA, or self-directed IRA.

Lastly, with a Solo 401k, your funds are protected from creditors attempting to collect in the case of bankruptcy. According to the 2005 Bankruptcy Act, creditors aren’t allowed to seek repayment for debts owed by debtors from 401k assets.

However, your asset protection goes beyond that. In addition, most states offer additional protection for Solo 401k funds outside of bankruptcy, including civil court judgments and even normal debts (with some exceptions).

When taking into account the Solo 401k’s like origin with other trusted IRS created retirement accounts, it’s government certification as a valid legal trust, and creditor protection of your assets within and outside of bankruptcy, a Solo 401k is one of the safest and most secure retirement plans available.

How do I know my money is safe with Maverick?

At this point, you might be fully convinced of the safety and security afforded to you by investing in a Maverick Solo 401k, but you might still be wondering if your money is safe with Maverick.

It’s important to all of us at here Maverick that you know what to expect when rolling your money over to a Maverick Solo 401k. One, so that you can better understand our process.

But also, we hope that by offering complete transparency you’ll be comforted in knowing that we take the utmost care in handling your account and that we’re willing to do what it takes to serve you.

Here’s a quick rundown of what to expect along the way to set up your Maverick 401k account and the role that we play as a company in helping you do that:  

1. Complete online setup and signatures (15 minutes)

First, our online setup will start you through the process by gathering a few pieces of basic information from you. It’s then handed off to us where we prepare the necessary plan legal documents for you to sign online.

Yes, you heard right. You can skip the pain of scanning or hunting down a fax machine. Within 15 minutes (or less) your initial plan documents are complete.

2. Open a bank account (we cover paperwork)

Now that your plan is in place, it’s time to open a bank account. This account will hold your funds in the name of your Solo 401k plan itself (this is important for several reasons).

There are two ways this can be done, both quick and easy:

1. Open an account at your local bank: Not only do we provide the paperwork you need to open the account, all you need to do is show up to your local bank and they’ll handle the rest. Quick and easy.

2. Open an account online with our FDIC insured banking partner: Rather take care of everything online? Don’t feel like leaving the house? You don’t have to. In addition to the option of opening an account at your local bank, you can also open an account with our FDIC insured banking partner and take care of the entire process from beginning to end online.

3. Rollover funds (done and done)

Once the bank account is open, the final step is to rollover funds from your previous retirement account. Once this is done the process is officially complete and you’re ready to begin investing with your brand new Maverick Solo 401k.

It’s important to know as well that throughout the entire process, your money never actually flows through Maverick. Rather, it moves directly from your current plan custodian into the new bank account holding your Solo 401k funds.

We take great care in handling your account, so we’ve created a system that is both highly efficient and offers an unmatched level of security and peace of mind.

Have questions? Contact us here or give us a call directly at (844) 486-4015 and we’ll be happy to help.

Or are you ready to experience the power, ease, and flexibility of a Solo 401k for yourself? Click here to fill out our short online form and see if you qualify.

Was this article helpful?

Still can't find what you are looking for?

Our award-winning customer care team is here for you.

Contact Support

It's Your Retirement Money. Invest It Your Way.

Maverick 401k gives solo entrepeneurs more investment options and higher contribution limits than a traditional 401k.

See If You Qualify