MARK KOHLERMain Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, Main Street Professionals, LLC · Owner at Main Street Professionals, LLC

Don't Fall for These Solo 401k Myths

16 Aug 2026 · 0 min

Watch on YouTube

0:29

Mark Kohler clears up four Solo 401(k) myths: you can have one alongside an employer 401(k), your spouse can participate even if they work elsewhere, you can hold an IRA and work 401(k) at the same time, and you're not limited to stocks—any investment your custodian allows works.

Let's debunk a few myths. Number 1, you can have a work 401 if you have a day job and a solo 401. Number 2, your spouse could have a day job and participate in your solo 401 in your small business. You can have an IRA and a solo 401 and a work 401. You can have all 3. Nothing wrong with that. And number 4, see if you can come up with 4, Matt. I'm going to do number 4 myth. I got some more. You can invest your solo 401 in anything you want. It does not have to be in Wall Street marketable securities.