MySolo401k vs Carry Solo 401k (2026)
A comprehensive comparison to help you choose between MySolo401k and Carry Solo 401k
MySolo401k
MySolo401k offers the most cost-effective non-prototype Solo 401k with full features, checkbook control, and the flexibility to invest with any brokerage.
Visit MySolo401kCarry
Carry delivers a polished, modern Solo 401k experience with automated Mega Backdoor Roth and the lowest entry cost, backed by strong venture funding.
Visit CarryThis comparison features two highly-rated Solo 401k providers that represent different philosophies in retirement plan administration. MySolo401k has spent over 15 years establishing itself as the industry standard for self-directed Solo 401k plans, building a reputation for reliability and the lowest ongoing costs in the market. Their $125 annual fee after the first year makes them the clear choice for cost-conscious investors planning to hold their accounts for the long term.
Carry, backed by Y Combinator and launched in 2022, represents the new generation of fintech-driven retirement solutions. Their mobile-first approach and automated Mega Backdoor Roth conversions appeal to tech-savvy entrepreneurs who value convenience and modern user experiences.
Both providers offer non-prototype plans with checkbook control and support for alternative investments, but they differ significantly in their pricing structure and operational approach. MySolo401k charges $525 upfront but only $125 annually thereafter, while Carry eliminates setup fees entirely but charges $299-$399 per year on an ongoing basis. This creates a clear crossover point where MySolo401k becomes more economical over time.
The decision between these two providers often comes down to whether you prioritize proven longevity and lower lifetime costs, or whether you value a polished mobile experience and automated features that simplify complex transactions like Mega Backdoor Roth conversions.
Our Rating
Pricing Comparison
| Fee Type | MySolo401k | Carry |
|---|---|---|
| Setup Fee | $525 | $0 |
| Annual Fee | $125 | $299-499 |
| Monthly Fee | N/A | $29-49 |
| First Year Total | $650 | $299-499 |
Long-Term Cost Analysis
See how costs add up over time
| Time Period | MySolo401k | Carry | Difference |
|---|---|---|---|
| 1 Year | $650 | $399 | +$251 |
| 3 Years | $900 | $1,197 | -$297 |
| 5 Years | $1,150 | $1,995 | -$845 |
| 10 Years | $1,775 | $3,990 | -$2,215 |
Green highlighting indicates the lower-cost option for each period.
Feature Comparison
| Feature | MySolo401k | Carry |
|---|---|---|
Roth Contributions After-tax contributions with tax-free growth | ||
Participant Loans Borrow up to $50,000 from your plan | ||
After-Tax (Mega Backdoor) Contribute beyond standard limits | ||
Alternative Investments Real estate, crypto, private equity | ||
Checkbook Control Direct investment management |
Pros and Cons
Pros
- Lowest annual fee among full-service non-prototype providers ($125/year)
- IRS-approved plan documents
- Full checkbook control with trust account
- Wide range of alternative investments (real estate, crypto, private equity)
- Supports Mega Backdoor Roth strategy
- Can connect to any brokerage (Fidelity, Schwab, etc.)
- Includes IRS audit support at no extra cost
Cons
- Higher upfront setup fee ($525)
- Requires more self-management than prototype plans
Pros
- Lowest first-year cost ($299 Core tier)
- No setup fee
- Modern, tech-forward platform with mobile app
- Automated Mega Backdoor Roth conversions
- Integrated banking through Grasshopper Bank
- Participant loans up to $50,000
- Y Combinator backed with strong funding
Cons
- Newer company (founded 2022)
- Alternative investments require Pro tier
- Crypto only available in IRAs, not Solo 401k
User Sentiment
MySolo401k
Receives the highest rating in the unbundled document provider category. Users specifically cite "Daily Office Hours" webinars and active community forums as standout support features. Users feel supported in complex compliance matters.
Carry
Receives a strong rating (4/5). It is the most "modern" experience available. User experience is consistently rated as superior. The only hesitation stems from relative youth compared to established players like MySolo401k, leading to some caution regarding long-term stability.
Our Verdict
Both MySolo401k and Carry earn our 4.5-star rating, making this one of the closest comparisons in the Solo 401k space. For most long-term investors, MySolo401k offers the better overall value. Their $125 annual fee is roughly half what Carry charges, and that difference compounds significantly over a 10-20 year retirement savings horizon. Their 15-year track record also provides peace of mind that newer providers simply cannot match.
However, Carry makes a compelling case for certain investors. If you are just starting out and want to minimize upfront costs, Carry's zero setup fee gets you into the game immediately. Their automated Mega Backdoor Roth feature eliminates the manual paperwork that MySolo401k requires, which is valuable if you plan to make regular after-tax contributions. The Gusto payroll integration also streamlines contribution tracking for businesses using that platform.
The bottom line: choose MySolo401k if you are planning for the long haul and want proven reliability at the lowest ongoing cost. Choose Carry if you prioritize a modern mobile experience, need automated Mega Backdoor Roth conversions, or want to start with zero upfront investment.
Which Provider is Right for You?
Choose MySolo401k if:
MySolo401k is ideal for cost-conscious investors who plan to maintain their Solo 401k for many years. If you value a proven track record, want the lowest ongoing fees in the industry, and do not mind handling some administrative tasks manually, MySolo401k delivers exceptional long-term value. Their active community forums also provide peer support that newer providers lack.
Choose Carry if:
Carry is the right choice for tech-forward entrepreneurs who want a polished mobile experience and automated features. If you plan to use Mega Backdoor Roth conversions regularly, use Gusto for payroll, or simply want to minimize your initial investment while testing the Solo 401k waters, Carry's modern platform delivers convenience that justifies its higher ongoing cost.