Best Retirement Accounts for Self Employed?

[Frugalady10]

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]

You should see about an SEP IRA. They have a much higher contribution limit than traditional and Roth IRAs.

[brewer12345]

DW uses a solo 401k through Fidelity.  It is very flexible and allows a lot more deferral than an IRA.

[Frugalady10]

Thanks I will have to check both of them out.

[frompa]

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]

I have a solo 401k and solo Roth 401k through eTrade. You can set up both with loan provisions as well.