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Solo 401(k) vs SEP IRA: Which is better?

Published January 24, 2022

The solo 401(k) and SEP IRA are two of the best retirement plans available for a small business owner - even a self-employed freelancer - looking to set up a professional caliber plan. It can be hard to save for retirement during a rough economy, but these plans are easy for small outfits to start quickly while generating serious tax breaks and preparing for the future.

Here's what you need to know about the solo 401(k) and SEP IRA, and when to use each plan.

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MSN Money

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Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.

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