Rolling an old SIMPLE IRA into a solo 401k - Pros / cons?
Hello, I am considering opening a solo 401k from Nabers (self employed, sole proprietor). I am mainly attracted to the plan because I could borrow a % of the 401k balance for emergencies, but it will take me some time to build the fund up. I have an old SIMPLE IRA (6 years old). I was thinking, to increase the amount I might be able to borrow in an emergency, to roll the SIMPLE IRA over the solo 401k. My concern is that some of the equities I have in the SIMPLE have lost value but could recoup the value in the next few years. If I liquidate and roll over, aren't I "locking in the losses" in the SIMPLE? If so, is it possible to only sell certain equities and roll them over to the solo 401k? I'd appreciate any ideas on how to do this better.
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