If you're self-employed, either a solo 401(k) plan or Simplified Employee Pension (SEP) IRA can be an excellent choice. Both solo 401(k) plans and SEP IRAs are tax-advantaged accounts. However ...

Relying primarily on savings from a 401(k) plan to fund retirement dreams could potentially set retirees up for financial ...

If you only earn a few thousand dollars in freelance income for the year, you can contribute much more to a solo 401(k) than you can to a SEP. You can contribute up to 100% of your self-employed ...

Review and file an amended tax return: If after filing your taxes you discover missed deductions or credits for 2024 or ...

Here's a comparison of three popular self-employed retirement savings plans: the solo 401(k), the SEP IRA and a SIMPLE IRA. See which option is right for your retirement planning needs.

Use a taxable brokerage account to supplement IRA savings. Open a solo 401(k) or SEP IRA if self-employed for higher limits. Key findings are powered by ChatGPT and based solely off the content ...

SEP IRAs are employer-funded retirement accounts with contributions based on employee salaries. Business owners and self-employed people who fund a SEP IRA are contributing as the employer ...

Self-employed workers and small-business owners who want an easy and inexpensive retirement plan should consider a Simplified Employee Pension IRA, or SEP IRA for short. SEP IRA plans are easier ...

An employee is eligible to participate in a SEP IRA if he or she is at least 21 years old and has worked for the company in three of the last five years, and received at least $600 in compensation ...

Options such as a Solo 401(k), SEP IRA or SIMPLE IRA may offer higher contribution limits and more flexibility than traditional or Roth IRAs. Retirement advice typically focuses on maximizing ...

Solo 401(k), Solo 401(k) Roth, SEP IRA, and Simple IRA $150 bonus when signing up 1% match on every dollar you roll over and contribute to your account $0 0% What is a Roth IRA? How to Choose the ...