Skip to content Personal Investing

Choose a site

Enterprise Corporate Personal Investing Workplace Retirement Financial Advisors/Intermediaries Institutional Investors/Consultants Recordkeeping Sponsors/Consultants
United States
English United States

Localization Settings

Current Selection

Americas

(1 item)
United States
English United States
United States
English
Help Account Types

Account Types

Whether you’re saving for retirement, planning for your family’s future, or investing your extra cash, we can help you get started.

Explore All Account Types

Retirement

Retirement Explore Retirement IRAs Roth IRA Traditional IRA Rollover 401(k) & Transfer IRA Small Business, Self-Employed & 403(b) Plans

Retirement Guidance

Retirement Guidance Saving for Retirement Approaching Retirement Living in Retirement Roth vs. Traditional IRA Rollover 401(k) Options

General Investing

General Investing Explore General Investing Individual Joint Trust Minor

College Savings

College Savings Explore College Savings T. Rowe Price College Savings Plan Maryland College Investment Plan Alaska 529

Brokerage

Brokerage Explore Brokerage
Funds

Funds

Our wide selection of mutual funds and ETFs provides you with the building blocks for a diversified portfolio.

Explore Funds

Mutual Funds

Mutual Funds Learn about Mutual Funds View All Mutual Funds Compare Mutual Funds T. Rowe Price® Select Funds Morningstar 4- & 5-Star Rated Funds Stock Funds Bond Funds Target Date Funds Asset Allocation Funds Money Market Funds Daily Prices Historical Performance Mutual Fund Dividend Distributions Mutual Fund Prospectuses & Reports I Class Shares Closed Funds

Exchange Traded Funds (ETFs)

Exchange Traded Funds (ETFs) Learn about ETFs View All ETFs ETF Dividend Distributions ETF Prospectuses & Reports
Advice

Advice

Our Advice solutions apply our decades of investing experience to help you meet your goals.

View Advice Solutions

Retirement Advisory ServiceTM

Retirement Advisory ServiceTM

Partnering with your advisor, set actionable strategies for your investments and retirement planning.

Explore Retirement Advisory Service

The ActivePlus Portfolios® Program

The ActivePlus Portfolios® Program

Get a model portfolio recommendation based on your timeline and risk tolerance – in minutes.

Explore the ActivePlus Portfolios Program

Private Asset Management

Private Asset Management

Direct access to a dedicated portfolio manager who actively manages your assets of $5 million +.

Explore Private Asset Management
Resources

Resources

Investment planning resources for your many financial goals.

Explore Resources

Tools

Tools Explore Tools Compare Funds My Watchlist Retirement Income Calculator Automatic Buy Research & Analysis

Planning

Planning Explore Planning Investing Basics Required Minimum Distributions College Savings Planning Asset Allocation Planning Tax Planning Estate Planning Social Security Planning Charitable Giving

Insights

Insights Explore Insights Markets & Economy Personal Finance Retirement Planning Retirement Savings Asset Allocation Equities Fixed Income

Life Events

Life Events Explore Life Events Inheriting an Account Job Change Family Events
About Us

About Us

Learn how we've focused since 1937 on one simple goal: to help you achieve yours.

Learn About Us

Why T. Rowe Price?

Why T. Rowe Price?

Discover how our approach has set us apart for over 80 years, and has helped millions of people invest in things that matter most.

Explore Why T. Rowe Price

Summit Program Exclusive Client Benefits

Summit Program Exclusive Client Benefits

Learn about our complimentary client benefits program designed to help you invest more confidently.

Learn about the Summit Program
Open an Account
United States
English United States

Individual or Solo 401(k)

For one-person business owners (and their spouse working for the business) who want the opportunity to save more for retirement.

Save more with an Individual 401(k) Plan

This 401(k) plan allows one-person business owners (and their spouse working for the business) the opportunity to save even more for their retirement.

Call 1-800-831-1344 to get started.

Download the Individual 401(k) Guidebook (PDF)

  • Eligible Employer: Self-employed individuals or small business owners (and their spouse working for the business) with no eligible employees.

  • Employer Deductible Limit: 25% of total compensation* of eligible participants (owner, and if applicable, working spouse).

  • Maximum Contributions for Employees: For 2024, the lesser of $69,000 or 100% of compensation. For 2023, the lesser of $66,000 or 100%, not including any catch-up contributions.

  • Salary Deferrals Allowed: Yes, may contribute the lesser of: 
    100% of compensation or, for 2024, $23,000 ($30,500 if age 50 or older); for 2023, $22,500 ($30,000 if age 50 or older).

  • Employer Fees: No annual employer fees or set-up costs.

  • Annual Participant Account Service Fee: $20 fee may apply1

  • Plan Set-up Deadline: Your company's tax filing deadline (including extensions)

  • Reporting Requirements: Annual IRS Form 5500 filing when combined plan assets exceed $250,000.

  • Investment Options: Choose from more than 150 no-load mutual funds

Want to learn more about Individual 401(k) Retirement Plans? View our frequently asked questions page.

Individual 401(k) Plan Benefits

Significant Tax Deferral Potential 

  • Contributions to an Individual 401(k) Plan can help reduce your current taxable income while saving for retirement.

Consider the Example Below:

Individual 401(k) Benefits
  Without an
Individual
401(k) Plan**
With an
Individual
401(k) Plan**
Net Business Income $100,000 $100,000
Less: 1/2 Employment Tax $7,065 $7,065
Less: Standard Deduction $29,200 $29,200
Less: Plan Contribution $0 $41,587
Taxable Income $63,735 $22,148
Regular Tax Due $7,184 $2,215
Self-Employment Tax Due $14,130 $14,130
Total Tax Before Tax Credits $21,314 $16,344
Tax Deferred** $0 $4,969
  • Choice of either pre-tax and/or after-tax (Roth) salary deferral contributions.
  • Tax-deferred growth potential and generous contribution limits allow you to maximize your retirement plan (PDF) needs.

  • Age 50 or older and able to make "catch-up" contributions in addition to your salary deferral contributions.

Low Cost

  • We keep our mutual fund expenses low to help you save even more.2

Helpful Resources

All investments are subject to market risk, including the possible loss of principal. Mutual funds are subject to management fees and expenses.

A retirement account should be considered a long-term investment. Retirement accounts generally have expenses and account fees, which may impact the value of the account. Early withdrawals are subject to taxes and possible penalties. For more detailed information about taxes, consult a tax attorney or accountant for advice.

*Maximum amount of compensation that can be used in determining contribution is $345,000 for tax year 2024 and $330,000 for tax year 2023. This amount is increased periodically for inflation.

**Based on 2024 IRS Tax Tables. This chart represents an unincorporated, self-employed, married individual under age 50 with two dependent children, filing jointly. The individual has net business income of $100,000 and the spouse has no earned income. The chart shows the difference between the tax due if no contributions are made and the tax due if the maximum contribution is made to an Individual 401(k) Plan. While personal exemptions have been eliminated, there is a child tax credit each child for 2024, subject to phase-out at a higher income level. This calculation has not taken into account the pass-through deduction that may be available. Actual savings will vary depending on your personal circumstances and the availability of the pass-through deduction. Please consult with your tax advisor to discuss your specific situation.

1An annual $20 account service fee is charged for each mutual fund account with a balance below $10,000. The $20 account service fee will be waived for the following circumstances: Subscribe to electronic delivery of statements and confirmations; maintain an individual combined balance of $50,000 or more for all T. Rowe Price accounts (including mutual funds, Brokerage, and Small Business Retirement Plans); or qualify for the T. Rowe Price Summit Program. Participants can subscribe to paperless delivery via T. Rowe Price Workplace Retirement once their account is established. If the Participant Account is closed during the year, a $20 closeout fee will be deducted automatically from the proceeds of the total redemption. However, the closeout fee is waived when an account service fee was previously assessed to the participant account for that year or when the proceeds are being used for a rollover, transfer or conversion to a T. Rowe Price retirement plan account or T. Rowe Price IRA.

2Source: Lipper Inc. 140 of 153 of our Investor Class mutual funds (excludes mutual funds not available for direct purchase) more than 6 months old had gross expense ratios below their Lipper averages based on fiscal year-end data available as of 12/31/2024.

202403-3296035