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The trade-off is the self-401(k) will likely cost more to administer each year...both direct and indirect costs.

I disagree. So far, I have had no administration costs for DH's self-401k that he has at Fidelity. I am the Plan Administrator, so he doesn't have to pay me anything, and Fidelity doesn't charge any fees. There is tax paperwork to fill out, but that doesn't happen until the assets are more than $100k, and from what I can tell by looking at the forms, it is fairly straightforward.

Whe test-drove a financial advisor at one point, and he offered to take over the Plan Administration for $250. For that, they'd prepare the very short tax form. That was it.

There is no reason you have to pay anyone any fees on any of these accounts. They can easily be self-managed.
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