Having become fully self-employed in recent years, I thought it would be a good time to revisit and update my research on the primary retirement accounts that those with self-employment and 1099 income can take advantage of: SEP IRAs, SIMPLE IRAs, and Solo 401Ks. If you have self-employment income (or plan/hope to at some point), or any side project or side hustle income, this should be of interest. I’ve previously opened and contributed to both an SEP IRA and Solo 401K, so I have personal experience with both. This article, an overview of SEP IRA basics, will be part 1
The post SEP...
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[Read the rest of the story at 20somethingfinance.com]