Solo 401K Basics for Self-Employment Income (For 2020 & 2021)

This is the second of a multi-part series on retirement accounts for self-employment income. I previously gave a rundown of SEP IRAs. In this post, I’ll cover the mighty Solo 401K. And up next: the SIMPLE IRA. Those who have or plan to have self-employment income should find this relevant. If you don’t fall in to those categories, you can let curiosity be your guide. What is a Solo 401K? The Solo 401K has a ridiculous amount of alternative names. It is also commonly referred to as an Individual 401K, Solo-K, Self-Employed 401K, Uni-K, and the One-Participant 401K, among others....

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