Some things to consider:Solo 401(k) plans have a potential higher contribution limits if earnings are high enough.Are you going to have employees?Access to funds are treated differently between an IRA and 401(k). The 401(k) can be structured so that you can borrow against it. Here is a great resource that may help you: https://www.irs.gov/retirement-plans/retirement-plans-for-self-employed-people Best wishes!Cindy

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solo 401k vs sep ira

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May 22, 2024
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Cindy4 12

Some things to consider:

Solo 401(k) plans have a potential higher contribution limits if earnings are high enough.
Are you going to have employees?
Access to funds are treated differently between an IRA and 401(k). The 401(k) can be structured so that you can borrow against it.

Here is a great resource that may help you: https://www.irs.gov/retirement-plans/retirement-plans-for-self-employed-people

Best wishes!

Cindy

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