A custom Solo 401(k) beats standard plans from Schwab or Fidelity for mega backdoor Roth contributions. Specialized providers offer better terms for this specific strategy, which lets you move large amounts into a Roth account each year.
If you want to do a mega backdoor Roth IRA contribution you can't just stick it directly into the Roth sub account. You need all three of those sub accounts. If you're going just straight to Schwab or straight to Fidelity, you're trying to get this out of a cookie cutter plan. That might not be the best route. You know the longer I do this the more I think it's worthwhile hitting up one of the companies on our recommended retirement account and HSA page. These people are used to doing this. They have people come to them every day, white coat investors every day that they're setting up solo 401ks for that have these features. And yes, getting a customized Solo 401K is probably going to cost you a few hundred dollars the first year and one or $200 every year after that. That is nothing compared to the benefits you're going to have from having this customized 401k instead of the cookie cutter plan you're going to get at Schwab or Fidelity.
Physician Takes a Youth Sports Team to the State Championship - MtoM Podcast #236
