Question

Retirement Account

Forum|Forum|4 years ago
October 27, 2021
1 reply
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I'm 55+, retired but now doing consulting. What type of retirement account (SEP, 401K, etc) is best for me? Pros/Cons of recommendation?

Michele_H

Hi @tlcampbell0427 you should choose the best one that suits your tax situation. There are benefits to both types of plans. I am attaching several links that will help you to make this determination. It depends on the amount of income and the amount you would like to contribute.

https://www.investopedia.com/articles/financial-advisors/012716/solo-401k-vs-sep-which-best-biz-owners.asp

https://www.guideline.com/blog/sep-ira-vs-401k/

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