The conventional wisdom regarding the solo 401(k) vs SEP IRA question is that self-employed people should choose the solo 401(k) because in most cases, the potential tax savings are higher.

A solo 401(k) and SEP IRA have the same total contribution limit for people younger than 50 ($70,000 in 2025, 69,000 for 2024 ...

If rolling over a 401 (k) takes two months, you could miss out on any upturns in the market, potentially costing you a lot of ...

While saving for retirement is crucial, knowing what that looks like can be difficult. Self-employed individuals must choose between accounts like a SEP IRA or a solo 401(k). Both accounts have ...

An IRA portfolio is not limited to US stock markets, Bonds and Gold. For those wishing to increase the resilience and growth ...

The tax benefit of a solo 401(k) and SEP IRA is tax-deferred growth, offering the benefit of an initial break. You won't pay tax on contributions and growth until you withdraw during retirement at ...

IRA stands for an individual retirement account. That “individual” part means you can open one independently, unrelated to your employer. However, you can only contribute to an IRA with earned ...

IRA stands for individual retirement arrangement. That’s the official name given by the IRS, but most people think of IRAs as individual retirement accounts, and that’s exactly what they are.

A solo 401(k) and SEP IRA have the same total contribution limit ($66,000 for 2023). However, if you’re at least 50 years old, the overall limit is $73,500 in 2023 with a solo 401(k) plan.

Contributions to a Solo 401(k) or SEP IRA are generally tax-deductible, reducing the business owner’s taxable income for the year. Additionally, both plans have deadlines tied to tax filings, giving ...