Credit Karma - Saving For Retirement When You Are Self-Employed
Saving for retirement when self-employed is a completely different animal compared to those who are saving and in a corporate setting.
Thankfully, if you are self-employed you have a ton of options available. In fact, the government gives you a ton of perks that make it possible to save a lot more than your corporate brethren.
Where should you start? Matt Hylland is interviewed in this article from Credit Karma on Solo 401(k)s and other retirement savings options for those who are self-employed:
Solo 401(k)s offer the highest potential for tax deferred savings, but typically come with higher setup costs and fees.
Another option is a SIMPLE IRA, which we discuss in detail in a blog post here: