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.

There are several different ways for self-employed individuals to save and invest for retirement, and two of the top account types are the SEP IRA and the Solo 401(k). Both are readily available ...

Self-employed people can still save for retirement – and benefit from ... you can contribute $13,940 to a SEP IRA or $33,440 to a solo 401(k) (which is $19,500 as the employee plus $13,940 ...

And those who are self-employed are also on their own when ... Fidelity also offers a SEP IRA and a solo 401(k). Charles Schwab offers traditional and Roth IRAs as well, with no-fee trading ...

Retirement plans for the self-employed range from the good to the outrageously good, and can allow you to save much more than you ever could with a traditional employer plan. A well-chosen ...

Without access to employer-sponsored 401(k) plans, self-employed workers must pursue other strategies for retirement saving. Small business owners often reinvest in their businesses instead of ...

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, not ...

Solo 401(k) allows business owners with no employees to set aside up to $70,000 in 2025. Additional catch-up contributions up to $11,250 are available for certain age groups. Self-employment tax ...

The contribution limit for a SEP-IRA for 2024 is 25% of your compensation, or $69,000 — whichever is less. A solo 401(k) is a retirement plan for self-employed people without employees (a spouse ...

A SIMPLE IRA, or Savings Incentive Match Plan for Employees, is a type of traditional IRA for small businesses and self-employed individuals ... in retirement. Unlike SEP IRAs, SIMPLE IRAs ...

A SIMPLE IRA, or Savings Incentive Match Plan for Employees, is a type of traditional IRA for small businesses and self-employed individuals ... in retirement. Unlike SEP IRAs, SIMPLE IRAs ...