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One of the benefits a traditional IRA has over a 401(k) plan is complete investment flexibility. ... SEP-IRA. A SEP-IRA can be a retirement plan option if you run your own business in addition to ...
The self-employed have several plan options, including defined contribution plans such as a solo 401(k), SEP IRA and SIMPLE IRA. But they also have some defined benefit options, too.
With a traditional IRA or 401(k), you only pay taxes on your investments when you withdraw from the account. ... It provides some of the benefits of a traditional 401(k) for those who don't have ...
SEP IRA vs. a 401(k) vs. a Roth IRA The SEP IRA is a popular retirement account, and those who have the option for a SEP IRA may also be considering a 401(k) or a Roth IRA account. Here are some ...
“Continue contributing to a Roth or traditional IRA, but remember the contribution limits are relatively low compared to a 401(k),” Meyer said. (The maximum contribution is $7,000 for 2024).
Continue reading → The post SEP IRA vs. Solo 401(k): Which Is Better? appeared first on SmartAsset Blog. ... In place of an employer-provided retirement plan like a 401(k), you may consider ...
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