Author Topic: Best Retirement Accounts for Self Employed?  (Read 2259 times)

Frugalady10

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Best Retirement Accounts for Self Employed?
« on: June 02, 2013, 02:02:40 PM »
Hi, i was wondering if anyone had any suggestions of the best retirement savings account for a self employed person? Right now (my husband is self employed) we have a Roth IRA through our bank and I am thinking of opening an IRA through Vanguard, but I wanted to hear what other people have.

grantmeaname

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Re: Best Retirement Accounts for Self Employed?
« Reply #1 on: June 02, 2013, 03:29:37 PM »
You should see about an SEP IRA. They have a much higher contribution limit than traditional and Roth IRAs.

brewer12345

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Re: Best Retirement Accounts for Self Employed?
« Reply #2 on: June 02, 2013, 04:10:29 PM »
DW uses a solo 401k through Fidelity.  It is very flexible and allows a lot more deferral than an IRA.

Frugalady10

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Re: Best Retirement Accounts for Self Employed?
« Reply #3 on: June 02, 2013, 05:47:21 PM »
Thanks I will have to check both of them out.

frompa

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Re: Best Retirement Accounts for Self Employed?
« Reply #4 on: June 04, 2013, 02:56:08 AM »
I'm self employed and I do a SEP and a traditional IRA, so I can shelter a good chunk every year. Read up on SEPs. If your circumstances allow it, you will likely find it very useful. Best of luck.

PGH

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Re: Best Retirement Accounts for Self Employed?
« Reply #5 on: June 04, 2013, 04:52:25 AM »
I have a solo 401k and solo Roth 401k through eTrade. You can set up both with loan provisions as well.